G2

Thesis

Digital health in the region combines access, financing and technology: memberships and coverage, telemedicine, pharmacy and clinical software. Investors value patient retention, relationships with providers and insurers, and regulatory compliance. We work at the border between healthtech and insurtech, as in Mutuus’s round, and have in-house sector analysis capability.

Buyer and investor dynamics

Investors are funds with health and inclusion theses, and corporate vehicles of insurers, pharmaceutical companies and hospital groups. Strategic buyers are hospital and laboratory groups, insurers and regional health platforms integrating digital channels.

Sector research

Capital, debt and M&A in the sector, with public sources cited.

Research

Healthtech: capital, debt and M&A in Mexico 2026

Andreessen Horowitz, Sierra Ventures and Kfund led rounds of USD 22 to 33 million in 2025 and 2026, strategic buyers acquire home care and hospital management, and digital health is now written into law.

· 6 min read

Public multiples

Listed comparable companies in the sector: price, market value, multiples and expected growth. Data as of 31 August 2026.

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  • 1.5x Median EV / revenue CY 26E
  • 17.1x Median P / E CY 26E
  • 10% Median revenue growth CY 26E
  • 15 Companies in the universe 3 LatAm

Market transactions

Analyses of recent deals in the sector: structure, value drivers and what they signal to the market.

Deal analysis

Arvo: USD 20 million Series A co-led by Kaszek and Base10

An artificial-intelligence platform that validates healthcare claims and authorisations, with more than USD 25 billion processed, raises capital for infrastructure, product and acquisitions after growing revenue and clients fourfold in a year.

· 5 min read

Deal analysis

Eden: USD 22 million Series A for its radiology operating system

A Mexican cloud RIS/PACS platform with more than 2,200 institutions and 13 million studies a year raises capital from a Silicon Valley fund and a Mexican business leader to go to Colombia and the United States.

· 5 min read

Deal analysis

ISA Saúde: USD 30 million Series B led by IFC

A home-hospital operator, profitable since 2024 and contracted with more than 25 health plans, raises development-finance capital to acquire traditional home-care providers and enter Rio de Janeiro.

· 5 min read

Deal analysis

Memed: BRL 80 million round co-led by DGF and BridgeOne

An electronic-prescription platform controlled by DNA Capital since 2021, at breakeven since June 2025 and projecting BRL 100 million in 2026 revenue, takes capital from two new funds to bring artificial intelligence to the prescription.

· 5 min read

Deal analysis

Mevo: BRL 95 million Series B extension led by Prosus

The Brazilian digital-prescription platform has raised BRL 340 million across eight rounds, priced the extension above its 2024 round and runs the business on a pharmacy marketplace connected to 100,000 active doctors.

· 5 min read

Deal analysis

Revena: USD 7.6 million seed round led by Canary

An artificial-intelligence platform for hospital revenue cycle, serving more than 60 hospitals and four of the ten largest networks in Brazil, raises a Series A-sized seed after growing more than 20 times in 2025.

· 4 min read

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