The digital health ecosystem is witnessing the commercial maturation of intermediated business models, yet a critical distinction must be drawn between distribution channels and value origination. The business-to-business-to-consumer (B2B2C) model, characterised by partnerships between HealthTech companies and enterprise payers (employers, insurers), has become the default go-to-market strategy, primarily due to its ability to scale adoption and mitigate high customer acquisi

The European healthcare technology (HealthTech) mergers and acquisitions (M&A) market is navigating a period of cautious yet discernible rebound in 2025. This resurgence is primarily propelled by improving macroeconomic conditions, substantial private equity dry powder and a pervasive strategic imperative for digital transformation across the healthcare ecosystem.