Q3 2026 Healthcare Industry Trends

Q3 2026 KEY HIGHLIGHTS

The largest transaction in Q3 2026 was Dassault Systèmes’ announced acquisition of ArisGlobal, the leading AI-native enterprise compliance platform for the Life Sciences industry, for $1.8 billion.

There were 90 financially sponsored transactions in the 1st 3 Quarters 2026, with an aggregate value of $4.7 billion, representing 29 percent of the total volume and 26 percent of the total value, respectively.

Q3 2026 KEY TRENDS

Total transaction value in Q3 2026 increased by 64 percent over Q2 2026, from $4.5 billion to $7.4 billion.

Total transaction volume in Q3 2026 increased by 3 percent over Q2 2026, from 107 to 110.

MULTIPLES & VALUE TRENDS

The median revenue multiple from 2025 through the 1st 3 Quarters of 2026 decreased 22 percent from 3.6x to 2.8x.

The median EBITDA multiple from 2025 through the 1st 3 Quarters of 2026 fell 21 percent, from 18.3x to 14.5x.

TOP TEN DEALS THROUGH Q3 2026

The top ten deals by value have seen five new additions since our half-year report. These include the previously mentioned announced acquisition of ArisGlobal by Dassault Systèmes, YDUQS’ announced merger with Afya Limited for $1.7 billion, Francisco Partners’ acquisition of Weave Communications for $622 million, Altaris Capital Partners’ acquisition of the Life Sciences & Healthcare segment of Clarivate for $600 million, and Frazier Healthcare Partners’ acquisition of MatrixCare for $490 million.

These five transactions, with an aggregate value of $5.2 billion, represented 29 percent of transaction value in the 1st 3 Quarters of 2026