Becker's Healthcare December 17, 2025
Patsy Newitt

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...

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Topics: Health System / Hospital, Mergers & Acquisitions / JV, Provider, Survey / Study, Trends
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