So I haven't yet managed to get a picture of it, but my wolf Michele often loses all health after a level in which his companion was defeated. I think this has happened to me with another wolf and their companion, but I didn't realize the possible cause at the time. I've been trying to test it and I'm sure Michele had plenty of health at the end of the gauntlet level, but on the Rewards screen, he's defeated, along with his familiar.
Edit:
I managed to get a picture of the other companion in this gauntlet party being defeated and the corresponding wolf still being healthy after the level. The Furmus is with Wilbur, the kit. The Colpach is with Michele, the jocol.
Edit 2: Managed to get it happening to Michele. This image is the last damage taken from the poison before it went to the rewards screen. He clearly still has a little less than a quarter of his health left. Rewards screen: he's greyed out, no health.