2024 Hospital M&A signaled early optimism for 2025

This year’s most popular insight illustrated in infographic form.

Published in January, the Graphic of the Year highlighted data from Kaufman Hall’s 2024 Hospital and Health System M&A in Review, capturing a sector cautiously emerging from post-pandemic disruption. With 72 announced transactions in 2024, health system merger and acquisition activity began ticking back up toward pre-pandemic levels. In 2025, a slow first half of M&A activity took place in the shadow of macro-economic volatility and uncertainty prior to the OBBB’s passage. However, third quarter transactions trended upward and are more in line with historical trends, according to Kaufman Hall’s Q3 M&A Quarterly Activity Report.