🏥 Q3 2025 Healthcare M&A Report: Spain Leads Sector Consolidation

 

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The third quarter of 2025 confirmed that healthcare remains one of the most active sectors in the M&A landscape across Spain and Europe. Despite macroeconomic uncertainty, Spain has solidified its position as a strategic destination for foreign investment, with 73% of deals involving international counterparties.

 

🔍 Key Trends in Healthcare M&A

 

• Slight decline in deal volume: A total of 26 transactions were recorded in Spain during Q3, with financial investors leading more than half of them.

 

• Buyer profile:
  • 54% financial investors
  • 46% industrial buyers
  • 73% cross-border transactions

 

• Most active segments:
  • MedTech (23.1%)
  • Hospitals & Clinics (19.2%)
  • Pharma (15.4%)
  • Senior Residences (11.5%)
  • CDMOs & Diagnostics (7.7%)

 

💼 Notable Transactions in Spain

 

Some of the standout deals this quarter include:

• Sanitas acquired the “Nuestra Señora del Socorro” senior residence in Toledo.
• Esteve acquired assets from Regis Technologies in the U.S. to strengthen its CDMO offering.
• Fremman Capital invested in JAGQ Labs, reinforcing its biotech portfolio.
• DUBAG Group acquired PronoKal®, a specialist in medical weight-loss treatments.

🌍 Europe: 230 Deals in Q3

 

Across Europe, 230 transactions were completed, driven by both strategic and financial investors. Highlights include:

• Sanofi acquired a U.S.-based biotech firm focused on neurodegenerative therapies.
• L’Oréal expanded its premium skincare portfolio with the acquisition of Medik8.
• KKR invested in a Swedish pharmaceutical company to grow its European healthcare footprint.

 

✅ Conclusion

 

The Q3 2025 Albia IMAP report confirms that healthcare continues to attract strong investor interest. Consolidation, technological innovation, and the dynamism of segments like MedTech and Pharma are expected to drive further growth in the coming months.