Top healthcare mergers and acquisitions in March 2026
Every verified merger and acquisition in the healthcare sector in this period, ranked by disclosed value. Updated every morning.
We tracked 17 deals in the healthcare sector in March 2026, 16 of them with a disclosed value, worth $38bn in total. The largest was Merck & Co., Inc.'s $6.7bn deal for Terns Pharmaceuticals, Inc., ahead of Eli Lilly and Company and Centessa Pharmaceuticals plc at $6.3bn.
Top healthcare mergers and acquisitions in March 2026
- 125 MarMerck & Co., Inc. → Terns Pharmaceuticals, Inc.Merck agrees US$6.7bn deal for Terns PharmaceuticalsHealthcare / BiotechCompleted$6.7bn
- 231 MarEli Lilly and Company → Centessa Pharmaceuticals plcLilly agrees up to US$7.8bn deal for CentessaHealthcare / BiotechCompleted$6.3bn
- 331 MarBiogen Inc. → Apellis Pharmaceuticals, Inc.Biogen agrees US$5.6bn deal for ApellisHealthcare / BiotechCompleted$5.6bn
- 42 MarWelsh, Carson, Anderson & Stowe, Robert A. Ortenzio and Martin F. Jackson → Select Medical Holdings CorporationWCAS and Select Medical founders agree $3.9bn take-privateHealthcare / Rehabilitation and critical illness recoveryCompleted$3.9bn
- 56 MarLone Star Funds (Lone Star Fund XII) → Lonza Capsules & Health Ingredients (60%)Lone Star agrees CHF2.3bn carve-out of Lonza's capsules armHealthcare / Capsules and nutrition ingredientsAgreed$3bn
- 616 MarAmplifon S.p.A. → GN Hearing (GN Store Nord)Amplifon agrees €2.3bn deal for GN HearingHealthcare / Hearing aidsAgreed$2.6bn
- 76 MarServier → Day One Biopharmaceuticals, Inc.Servier agrees US$2.5bn deal for Day One BiopharmaceuticalsHealthcare / BiotechCompleted$2.5bn
- 820 MarNovartis AG → Pikavation Therapeutics (Synnovation Therapeutics)Novartis agrees US$2bn deal for Synnovation's PI3Kα unitHealthcare / BiotechCompleted$2bn
- 923 MarGilead Sciences, Inc. → Ouro MedicinesGilead agrees US$1.7bn deal for Ouro MedicinesHealthcare / BiotechCompleted$1.7bn
- 109 MarAgilent Technologies Inc. → Biocare MedicalAgilent agrees US$950m deal for Biocare MedicalHealthcare / DiagnosticsCompleted$950m
- 119 MarUniversal Health Services, Inc. → Talkspace, Inc.UHS agrees US$835m deal for TalkspaceHealthcare / Behavioural healthCompleted$835m
- 1227 MarOtsuka Pharmaceutical Co., Ltd. → Transcend Therapeutics, Inc.Otsuka agrees deal worth up to US$1.2bn for Transcend TherapeuticsHealthcare / BiotechCompleted$700m
- 1319 MarCollegium Pharmaceutical, Inc. → AZSTARYS (Corium Therapeutics)Collegium agrees US$650m deal for ADHD drug AZSTARYSHealthcare / PharmaceuticalsCompleted$650m
- 142 MarGyre Therapeutics, Inc. → Cullgen Inc.Gyre agrees US$300m all-stock deal for CullgenHealthcare / BiotechCompleted$300m
- 152 MarRadNet, Inc. → Gleamer SASRadNet buys Gleamer for up to €230mHealthcare / Radiology AICompleted$269m
- 1617 MarStrides Pharma Science Limited (via Strides Pharma International AG) → Sandoz branded generics portfolio in Sub-Saharan AfricaStrides buys Sandoz branded generics in Sub-Saharan AfricaHealthcare / Generic pharmaceuticalsAgreed$12m
- 1727 MarNovartis AG → Excellergy, Inc.Novartis agrees deal worth up to US$2bn for ExcellergyHealthcare / BiotechCompletedUndisclosed