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Average Multiples and Key Drivers of Digital Therapeutics (DTx) M&A deals in 2023

Lloyd Price

These multiples are down from the levels seen in 2022, but they are still higher than the average EV to sales multiple for all industries. Here are some additional insights into DTx M&A deals in 2023: The most active acquirers in the DTx M&A market are pharmaceutical companies, followed by technology companies.