M&A advisory for digital health companies
Digital health M&A is shaped by a hard split between commercial story and clinical / regulatory reality. Buyers will pay premium revenue multiples for a digital health business, but only if reimbursement is durable, FDA / MDR posture is clean, and clinical evidence stands up to specialist diligence. The number of deals that die in clinical diligence after a clean commercial process is uncomfortably high.
Buyer types are unusually fragmented. EHR consolidators (Epic-aligned platforms, Oracle Cerner, Veradigm), payer-backed platforms (UnitedHealth/Optum, Elevance, CVS Health), medtech strategics (Medtronic, Stryker, Philips, Siemens Healthineers), pharma services groups and digital-health-focused PE (Bain, KKR, Welsh Carson, Nordic Capital) each ask completely different questions and value completely different things. An asset built for an EHR roll-up is rarely the same one a payer wants to vertically integrate.
Flow advises across digital health - care delivery, clinical software, health data and AI, life sciences tooling - and runs sell-side processes built around the regulatory and reimbursement evidence each buyer type actually needs.
M&A goes smoother with an advisor that understands digital health
Pick the buyer archetype first
EHR consolidators, payer platforms, medtech strategics and healthcare PE diligence on completely different things - data interop, reimbursement durability, device economics, clinical evidence. We identify which archetype the asset is built for before launch, so the equity story, data room and process all point at the right pool.
Reimbursement story, defended
Buyers stress-test reimbursement mix, payer concentration and CPT code durability. We rebuild the revenue model the way payer / provider diligence will - by payer, by code, by indication - so the topline isn't repriced when reimbursement risk surfaces in commercial diligence.
Clinical and regulatory pre-flight
FDA, MDR, IVDR posture and clinical evidence quality are where digital health deals quietly fall apart. We pre-empt the regulatory and clinical workstreams - quality systems, 510(k) status, CE marks under MDR, real-world evidence - so the deal isn't ambushed in week eight of diligence.
Reach the healthcare buyer set
Healthcare M&A runs through a known but fragmented list - Optum, Elevance, CVS, Oracle Cerner, Medtronic, Stryker, Philips, plus the healthcare-focused PE bench (Bain, KKR, Welsh Carson, Nordic). We map who is actively buying which sub-vertical, and approach the right corporate development teams directly.
Recent M&A deals we closed
We've closed sell-side and buy-side transactions across European, US and emerging-market tech.
Our M&A track record spans strategic exits to corporate acquirers, PE buyouts, and cross-border deals where regulatory and structuring complexity actually matters.
We acted as exclusive sell-side advisor to MAILINGWORK, a Chemnitz-based email marketing software platform, on its sale to French digital marketing leader Positive Group.
Recent M&A advisory digital health track record
Selected M&A transactions and prior deal experience.
M&A advisory for all digital health niches
From digital therapeutics to EHR & practice management, we're a specialized M&A advisor to digital health companies.
Our M&A experience spans across all digital health verticals.
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Recent digital health insights
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