It looks like so far, concerning multiplayer, that they would share a health bar in a similar vein of when you fought the two giant cyborgs that remind me of Jack from the Tekken series in stage 6 (this game may have came out first). I remember being unable to defeat those guys when I was younger. Great game that has been, no pun intended, brought back from the scrap heap.
Wonder if they'll follow the same story or expand upon it by giving the cyborgs some personallity(not like they need it because reasons).