DealScape: Strategic M&A Is Back Across the Market

Goldman’s latest M&A outlook confirms what many in the field are experiencing firsthand: strategic dealmaking is regaining momentum. Despite broader macroeconomic uncertainty, CEOs and sponsors are leaning back into bold transactions, with a renewed focus on growth, innovation, and capability-building.

Key Trends Driving the Rebound

1. Confidence is returning at every level of the market.

While headlines focus on the record number of $10 billion–plus transactions, the surge in smaller deals is just as notable. Year-to-date, activity in this segment has risen by 37%. This reflects renewed confidence not only at the very top of the market, but across the full spectrum of M&A.

2. The lower middle market is seeing similar catalysts, particularly in healthcare.

Founders are pursuing both full and partial exits in response to evolving market dynamics.

Strategic acquirers are accelerating tuck-in acquisitions, especially in healthcare and tech-enabled services.

Sponsors are deploying creative capital solutions and building sector-specific investment theses.

Demand remains strong for differentiated platforms in care delivery, outsourced services, and healthcare infrastructure.

Perspective

For healthcare innovators, the renewed appetite for strategic M&A is creating opportunities across stages and subsectors. The current environment rewards businesses with differentiated positioning and strong fundamentals, whether they are exploring liquidity, growth partnerships, or creative capital structures.

At Sierra Pacific Partners, we specialize in working with founder-led businesses in healthcare to design tailored, high-integrity processes for both sell-side M&A and capital raising. Our view: the return of strategic M&A is not just a headline trend, it is reshaping opportunities across the lower middle market.