Average HealthTech deal size has more than tripled since 2022, but the entry multiples that make a fund's vintage are still found below €250M EV. Global and European healthcare M&A surged in 2025, with global transaction value reaching $546.7 billion, a 38% increase year-over-year. In Europe, private equity healthcare buyout value reached $80.9 billion in 2025 and is projected to surpass $95.0 billion in 2026. Disclosed global healthcare buyout value exceeded $191 billion in

The European HealthTech and MedTech sectors are undergoing a profound transformation, moving from a fragmented, early-stage ecosystem to a mature, consolidating landscape ripe for sophisticated private equity (PE) strategies. This report serves as a strategic blueprint for PE firms aiming to capitalise on this evolution. The analysis reveals that the European digital health market has emerged as a global leader in funding growth, propelled by a strategic pivot towards fewer,