Private Equity Firm Acquires Neue Health (~16.7x 2025 EBITDA, 7.6x 2026 Figures)
- Will Hamilton
- Oct 3, 2025
- 2 min read
Updated: 9 hours ago
On October 2, 2025, New Enterprise Associates (NEA) completed a take private transaction involving NeueHealth, Inc., a provider of value-based care solutions that integrates patient engagement, care coordination, and provider enablement tools aimed at improving clinical outcomes and reducing total cost of care. NeueHealth’s platform partners with provider organizations and payors to deliver risk-bearing care models, leveraging data analytics, technology-driven workflows, and clinician networks to improve quality metrics and population health management. NEA’s investment underscores continued private equity and venture capital interest in companies positioned at the intersection of digital health, value-based care, and provider enablement, where scalable platforms address shifting reimbursement models and payer/provider alignment.
The capital infusion from NEA is expected to support accelerated product development, broader market penetration, and strategic partnerships that strengthen NeueHealth’s footprint across risk-bearing provider networks and payor collaborations. This investment aligns with broader Managed Care M&A and financing activity in 2025, where investors are focusing on solutions that drive cost efficiency, care delivery transformation, and measurable outcomes in value-based arrangements. As healthcare systems and payors increasingly prioritize data-driven care coordination and performance-based reimbursement, NeueHealth’s position as an integrated care enablement platform is anticipated to benefit from sustained demand for technologies that bridge clinical, operational, and financial performance.
Managed Care EBITDA Multiples
According to the press release, the purchase price was $7.33 per share, implying an enterprise value of $1.465b. Revenue and adjusted EBITDA from the fairness opinion. With $1.72b and $87.5m of estimated 2025 revenue and adjusted EBITDA, respectively, the multiples work out to 0.85x revenue and 16.7x EBITDA. However, Neue Health was expected to scale quickly post-transaction, with estimated 2026 EBITDA of $193m, implying a forward multiple of only 7.6x.
Managed Care M&A Deal Volume
The number of announced managed care deals, which include health plans, population health, and payer services deals, among others, fluctuated wildly on quarter-by-quarter basis in 2025 near peak levels. Volume dropped to record low 15 in Q1 only to set a record high with 39 in Q3. Looking at the individual segments, declines in health plan deal volumes have been offset by increases in the payer services and health insurance brokerage subsegments.
Other Managed Care Deals
Read Scope Research's take on other managed care M&A transactions:
About Scope Research
The Scope Research Healthcare M&A Valuation Database currently has financial details related to 158 managed care deals, segmented by type, including 94 deals with disclosed EBITDA multiples. The managed care data can be purchased individually, while our affordable annual subscriptions provide access to all of our healthcare M&A databases and segments, updated continuously.
Don't hesitate to reach out to Will Hamilton at will@scoperesearch.co with questions about your specific situation.