Transaction Monitor Occupational Health and Safety Services 2025

Mental health as a systemic shock. As the existing occupational health framework reaches its limits and the market reorganizes.

This week we published the Transaction Monitor Occupational Health and Safety Services 2025, in which we see that the M&A market has shown a different picture over the past year compared to 2024. Whereas in 2024 there were still several large transactions with a high total deal value, in 2025 we see more dispersed activity and a clear shift towards the mid-market segment.

This results in a market that is less driven by outliers and more characterised by a broader and more consistent M&A landscape. At the same time, the focus of buyers is shifting further from traditional occupational health services and sickness absence management towards a broader labour and health domain, in which mental health, prevention, and employability play an increasingly important role.

These developments show that the sector is gradually evolving towards a different market model, driven by growing demand for care and increasingly complex issues related to labour and health.

Our special thanks go to Fynn van den Booren of @arbo, Ruth de Heer of The Mental Move and Wim Wijnholds of Perspectief for their contribution to this publication.