Investment and M&A transaction comps
Healthcare Investment & M&A Transaction Comps
Healthcare services, healthcare IT, medtech, diagnostics, life sciences tools and related healthcare transactions. Pure biotech rows are tracked separately where normal revenue multiples are less meaningful.
50
Reviewed transactions
19
With price data
4.6x
Median EV or valuation / revenue
15.1x
Median EV or valuation / EBITDA
| Year | Transactions | Priced | Median EV or valuation / revenue | Median EV or valuation / EBITDA |
|---|---|---|---|---|
| 2026 | 32 | 8 | 6.0x | - |
| 2025 | 3 | 0 | - | - |
| 2022 | 3 | 1 | 4.9x | 17.1x |
| 2021 | 3 | 2 | - | 11.9x |
Sortable transaction comps
Healthcare transaction table
Rows with reported value
13 / 25
Acquisition EV, USD
USD 73B
Investment EV, USD
-
Median EV / revenue
4.3x
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25 shown of 50 matching transactions. Click any transaction row for more detail.
Values are 100% enterprise values. Multiples divide EV by full-company revenue or EBITDA. Reported prices are assumed to be EV; explicit partial-stake prices are grossed up as estimates. Amounts paid are tracked separately.
| Select for comparison | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Tally Health Control | 2026-04-29 | Infinite Epigenetics | Undisclosed | Undisclosed | - | - | - | Confirmed 2 sources | ||
| 2026-04-27 | Astorg | USD 1.1B Consideration | 1,075 | - | - | - | Confirmed 1 source | |||
| XOMA Control | 2026-04-27 | Ligand | Undisclosed | Undisclosed | - | - | - | Confirmed 1 source | ||
| CathWorks Control | 2026-04-20 | Medtronic | Undisclosed | Undisclosed | - | - | - | Confirmed 1 source | ||
| Kelonia Therapeutics Control | 2026-04-20 | Eli Lilly and Company | Undisclosed | Undisclosed | - | - | United States | Confirmed 1 source | ||
| CrossBridge Bio Control | 2026-04-14 | Eli Lilly | Undisclosed Undisclosed | Undisclosed | - | - | - | Confirmed 1 source | ||
| Amplitude Vascular Systems Control | 2026-04-13 | Stryker | USD 835M Consideration | 835 | - | - | United States | Confirmed 2 sources | ||
| Clario Holdings, Inc. Control | 2025-10-29 | Thermo Fisher Scientific | Undisclosed | Undisclosed | - | - | - | Confirmed 1 source | ||
| Tianjin TSKF Pharmaceutical Co., Ltd. Control (12%) | 2025-06-27 | Haleon plc | Undisclosed | Undisclosed | - | - | China | Confirmed 9 sources | ||
| CentralReach Control | 2025-03-24 | Roper Technologies | Undisclosed | Undisclosed | - | - | - | Confirmed 1 source | ||
| Viatris OTC business Control | 2023-10-01 | Cooper Consumer Health | EUR 1.9B Consideration | 2,066 | - | - | Europe | Confirmed 2 sources | ||
| Oyster Point Pharma Control | 2022-11-07 | Viatris | Undisclosed | Undisclosed | - | 20.7x | - | Confirmed 1 source | ||
| Biohaven Pharmaceutical Control | 2022-05-10 | Pfizer | USD 12B Consideration | 11,600 | - | 13.5x | United States | Confirmed 1 source | ||
| Antares Pharma, Inc. Control | 2022-04-13 | Halozyme Therapeutics | Undisclosed | Undisclosed | 4.9x | - | - | Confirmed 1 source | ||
| Flexion Therapeutics Control | 2021-10-11 | Pacira BioSciences | Undisclosed | Undisclosed | - | 11.0x | United States | Confirmed 1 source | ||
| Rodeo Therapeutics Corporation Control (100%) | 2021-03-30 | Amgen Inc. | USD 55.0M Consideration | 55 | - | - | Seattle, Washington, United States | Confirmed 1 source | ||
| GW Pharmaceuticals Control | 2021-02-03 | Jazz Pharmaceuticals | USD 7.2B | 7,200 | - | 12.9x | - | Confirmed 1 source | ||
| Aimmune Therapeutics Control | 2020-08-31 | Sociétés des Produits Nestlé S.A. / Nestlé Health Science | USD 2.6B | 2,600 | - | - | United States | Estimated 1 source | ||
| Dermira Control | 2020-01-10 | Eli Lilly | USD 1.1B Transaction Value | 1,100 | - | - | - | Confirmed 2 sources | ||
| Celgene Control | 2019-01-03 | Bristol-Myers Squibb | Undisclosed Enterprise Value | Undisclosed | - | - | United States | Confirmed 2 sources | ||
| 2018-04-19 | The Procter & Gamble Company | USD 3.7B Enterprise Value | 3,700 | 3.7x | 17.2x | Global | Estimated 5 sources | |||
| VCA Inc. Control (100%) | 2017-01-09 | Mars, Incorporated | USD 9.1B Enterprise Value | 9,100 | 3.6x | - | United States | Confirmed 3 sources | ||
| Capsugel S.A. Control (100%) | 2016-12-15 | Lonza Group | USD 5.5B Consideration | 5,500 | 5.1x | 15.1x | United States | Confirmed 1 source | ||
| KYTHERA Biopharmaceuticals Control | 2015-06-17 | Allergan | USD 2.1B Consideration | 2,100 | - | - | - | Confirmed 1 source | ||
| DuPont Nutrition & Biosciences Control | 2005-07-01 | International Flavors & Fragrances (IFF) | USD 26B Consideration | 26,200 | 4.3x | 18.9x | United States | Estimated 2 sources |
FundComb transaction comps are informational only. Prices are shown as estimated enterprise value where available, with USD used as the default sorting currency; revenue and EBITDA multiples are shown where available. Values may be estimated, rumored, incomplete or derived from public information and should not be relied upon as financial, investment or valuation advice.