In 2024, Winterberg Group actively expanded its presence in the Swiss healthcare sector through key acquisitions, amidst a fluctuating M&A landscape characterized by both initial strong activity and subsequent challenges.

Information on the Target

In 2024, the Swiss mergers and acquisitions (M&A) landscape has been characterized by a blend of opportunities and challenges, particularly for small-cap private equity players. Noteworthy transactions marked the beginning of the year, with substantial deals like Swisscom’s €8 billion acquisition of Vodafone Italia. This move aimed to enhance Swisscom's position in the Italian telecommunications market, illustrating the continued interest in strategic international expansions.

By mid-year, additional significant acquisitions, including Novartis’s purchase of Mariana Oncology for $1 billion, showcased the robust demand for cross-border investments, particularly in growth-oriented sectors such as technology and healthcare. Various players were active in this vibrant market, indicating a healthy appetite for strategic growth through M&A.

Industry Overview in Switzerland

The Swiss M&A market experienced a strong start in 2024, with four billion-euro transactions successfully closed in the first quarter alone. This strong performance was led by high-profile deals demonstrating both the resilience and ambition of Swiss companies. How