The European healthcare technology IPO landscape is entering a phase of "Rational Exuberance" in 2026, following a prolonged drought stretching from late 2021 through 2025. The IPO window is reopening—early February 2026 saw biotech companies pull in more than $1 billion from public markets in a single week, including Belgium's Agomab Therapeutics scoring a $200 million NASDAQ listing. However, the European HealthTech IPO market remains highly selective, accessible primarily

Firms like Nelson Advisors in the UK, Clipperton in France, and ConAlliance in the DACH region are at the forefront of this movement. These boutiques have redefined the advisory role by focusing on sub-sector granularity and "Founders for Founders" partnership models. They prioritise long-term strategic positioning over purely transactional outcomes, often helping founders navigate the transition from venture-backed growth to private equity platform consolidation.

The UK HealthTech mergers and acquisitions (M&A) market in 2025 is characterised by a "cautious yet discernible rebound". While global digital health funding has seen a decline, the European market, particularly within the UK, has demonstrated remarkable resilience, defying global trends with a significant surge in deal activity. This momentum is not uniform, however; it is marked by a profound bifurcation that separates the market into two distinct categories.

The healthcare industry is on the cusp of a profound transformation, shifting from a traditional model of patient engagement to an increasingly automated, self-directed paradigm. Patient engagement, a cornerstone of value-based care, has historically relied on a collaborative, human-centric partnership between patients and their care teams. However, this model faces inherent limitations in scalability due to administrative burdens, staffing shortages, and the increasing compl

Nelson Advisors Partner Lloyd Price invited to Judge the 'Digital Health Hub Foundation: Digital Health Awards 2025' at HLTH Event in Las Vegas, USA.

The IPO landscape for HealthTech startups in 2025 is likely to be dynamic, influenced by various factors such as market conditions, company performance and regulatory changes. While it's challenging to predict with certainty which specific companies will go public, the following six HealthTech startups have the potential to be among the IPO candidates: Omada Health, Hinge Health, Sword Health, Doctolib, Aledade, Quantum Health