Our latest Health Tech Report Q3 2025 is here, revealing a pivotal shift as billion-dollar IPOs signal renewed investor confidence and Europe reaches a five-year peak in deal share.

Our key takeaways are:

• Digital Health IPOs Make a Comeback – Hinge Health and Omada Lead the Way: After years of constrained exits, the sector is experiencing a selective reopening. Hinge Health went public at USD 2.6 billion valuation with a 76% gross margin, while Omada achieved USD 1.1 billion valuation with a 61% margin. Both companies prove that measurable clinical outcomes and cost-effectiveness win in public markets.

• What makes these IPOs remarkable: Their employer-funded, insurance-backed business model creates predictable revenue streams through annual contracts rather than per-user fees. This drives strong unit economics, high customer lifetime value, and the scalability that public investors reward.

• Europe Hits Five-Year Peak – 27% of Global Deal Share: While US activity fell to 49% (lowest since Q4 2021), Europe demonstrated stronger resilience with funding down only 17% QoQ versus 23% globally. Growth-stage investments accounted for 67% of European rounds, as capital concentrated on proven, evidence-backed platforms.

• AI Mega-Deals Dominate Q3 – 35% of Total Funding: EliseAI and Ambience Healthcare alone captured 9% of transaction volume. The focus is AI-driven workflow automation and clinical documentation – addressing administrative overload that drives the heaviest burden in care delivery today.

• Therapeutic Segments Show Remarkable Resilience: Oncology (USD 3.1 billion), women’s health (USD 2.5 billion), and mental health (USD 2.1 billion) attracted the highest funding in the first nine months of 2025. Investors increasingly require validated clinical endpoints and real patient engagement data.

For an in-depth analysis and forward-looking insights into the Health Tech industry, request our Report for Q3 2025 below. 

Alternatively, connect directly with our partners and Health Care experts Kevin Kissner, Dr. Lars Veit, and Dr. Konstantin Schönborn to gain a competitive edge. 

Our Health Tech Report Q3 2025 is published solely in English.