MedTech M&A in 2026: Tracking Deal Activity

Medtech M&A activity rebounded in 2025 as companies shifted toward more deliberate portfolio reshaping, supported by renewed strategic confidence and softer valuations following slower activity in 2023 and early 2024 — trends highlighted in Bain & Company’s M&A report.

In our 2025 medtech M&A roundup, Xtalks observed a wide array of strategic transactions — from interventional systems and digital testing capabilities to manufacturing and specialized equipment deals — underscoring industry commitment to innovation and operational excellence.

In 2026, medtech M&A may continue to center on targeted acquisitions and divestitures, particularly in higher-growth clinical areas, outpatient-oriented technologies and data-enabled capabilities.

This Xtalks blog will provide a continuous roundup of medtech M&A transactions announced in 2026, tracking activity throughout the year.

Cardiovascular & Neurovascular Technologies

• Boston Scientific – Penumbra: Boston Scientific entered a definitive agreement to acquire Penumbra in a cash-and-stock transaction valuing the company at approximately $14.5 billion. The deal expands Boston Scientific’s cardiovascular and neurovascular device portfolio, including mechanical thrombectomy systems used to treat stroke, pulmonary embolism and other vascular conditions.
• Edwards Lifesciences – JenaValve Technology: Edwards Lifesciences will not proceed with its proposed acquisition of JenaValve Technology after a US district court granted an FTC injunction blocking the transaction. Edwards said it disagrees with the ruling and will continue advancing its transcatheter aortic valve programs independently.
• Haemonetics – Vivasure Medical: Haemonetics acquired Vivasure Medical in a transaction valued at up to €185 million (around $218.57 million), following a prior strategic investment. The deal adds Vivasure’s fully bioresorbable PerQseal Elite vascular closure system, which is under FDA PMA review and holds CE mark approvals for arterial and venous procedures.

Diagnostics & Imaging

Medtronic – CathWorks: Medtronic announced its intent to acquire CathWorks, exercising an option established through a prior strategic partnership. Valued at up to $585 million, the acquisition adds CathWorks’ AI-based FFRangio system, which enables non-wire-based assessment of coronary physiology from routine angiograms, pending FTC clearance.

Manufacturing & Supply Chain

Scanfil – MB Elettronica: Scanfil completed its acquisition of Italy-based electronics manufacturing company MB Elettronica, strengthening its presence in industrial, aerospace and medtech manufacturing. MB reported approximately €120 million (around $141.77 million) in 2025 revenue, with the transaction valued at up to €123 million (approximately $145.32 million), including performance-based payments.

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