Becker's Healthcare December 17, 2025
After two volatile years marked by regulatory uncertainty and uneven deal values, health services mergers and acquisitions could pick up in 2026, according to a Dec. 16 report from PwC.
Here are 10 trends to know from the report:
1. Deal volume held steady throughout the year, generally in the mid-260s to low 300s per quarter, even as pricing moved around more.
2. Deal value dropped sharply from $19 billion in the fourth quarter of 2024 to $7 billion in the third quarter of 2025, then climbed to $22 billion in the fourth quarter of 2025 to date.
3. PwC said concerns about reimbursement policy and regulatory scrutiny are still weighing on valuations and slowing deal timelines, especially in...







