Hospital M&A Surges in 2026, Megamergers Hit Record Pace
Kaufman Hall's Oct. 13 quarterly report finds hospital and health system mergers and acquisitions in 2026 have already topped 2025's full-year total and are on pace for the busiest year since the pandemic began. The firm counted 56 announced deals through the third quarter, versus 46 for all of 2025, which was the lowest annual count since Kaufman Hall began tracking in 2011. Megamergers, deals where the smaller party has over $1 billion in annual revenue, have been announced for three consecutive quarters, with third-quarter deals totaling $8.2 billion in transacted revenue. Nonprofit systems drove most of the activity, serving as acquirer in eight of 16 third-quarter deals, as large systems pursue scale while midsize hospitals move early to preserve options.