All the Wellness M&A Deals and Investments in 2023

As the wellness category continues to boom, investor interest is brewing across major categories, including supplements, real estate and telehealth. Acquisitions, especially in the telehealth and health care space, reflect growing interest and commitment to the overall wellness category.

Here is a list of all the wellness mergers, acquisitions and investments so far in 2023:

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CVS Health Corp. announced it would acquire Oak Street Health Inc., a health care network for older patients, for $10.6 billion.

Cannabis tech firm Alleaves Inc. bought BioTrack, a cannabis software system, from health care software provider Forian Inc. for $30 million.

F45 Training received a $90 million subordinated debt facility led by affiliates of Kennedy Lewis Management LP. The company also named board member Gene Davis as chairman, added Timothy Bernlohr, Lisa Gavales, Steven Scheiwe and Ray Wallander as independent directors of the board and appointed Bob Madore as interim chief financial officer.


Oula, a modern maternity clinic, closed a $19.1 million series A round led by 8VC along with existing investors, including Chelsea Clinton’s venture capital firm Metrodora Ventures, the Female Founders Fund, Collaborative Fund and Alumni Ventures. Oula will expand its offerings to include sonography and additional group support.

Fast facial bar Glowbar closed a $10 million series A round led by Peterson Partners. It plans to double locations, to total 12, by the end of 2023.

Digital and in-person sexual health care provider TBD Health closed a $4.4M seed round led by Tusk Ventures. The company will expand to all 50 states.

Liquid I.V. invested $1.3 million in grants to MAP International, International Rescue Committee and University of California, Los Angeles Sustainable L.A. Grand Challenge to support clean water access.

Kadenwood, a plant-based wellness solution parent company, acquired probiotic and microbiome health brand Probulin.

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