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.
• Medtronic – Scientia Vascular: On March 10, 2026, Medtronic agreed to acquire Scientia Vascular for $550 million, with potential additional milestone payments. Scientia Vascular develops guidewires and catheters used to navigate complex brain blood vessels during stroke and aneurysm procedures. The acquisition will expand Medtronic’s neurovascular portfolio and support physicians performing minimally invasive stroke treatments.
• Edwards Lifesciences – JenaValve Technology (Blocked Acquisition): On January 9, 2026, a US federal court granted an injunction requested by the FTC blocking Edwards Lifesciences’ proposed acquisition of JenaValve Technology. The ruling prevents the companies from completing the transaction. Edwards said it disagrees with the decision.
• Alkem MedTech – Occlutech (Majority Stake Acquisition): On February 13, 2026, India-based Alkem Laboratories’ medical device division agreed to acquire up to a 55% stake in Occlutech Holding for €99.4 million (about $118 million). Occlutech develops minimally invasive implants used to treat structural heart defects. The deal marks Alkem’s entry into advanced cardiovascular devices and is expected to close by June 2026, subject to approvals.
• Quantum Surgical – NeuWave Medical: On February 24, 2026, Quantum Surgical acquired NeuWave Medical, a company developing microwave ablation technologies used to destroy tumors through minimally invasive procedures. Quantum Surgical develops the Epione robotic platform used in tumor ablation procedures. The companies will operate under the newly formed Precision IO Group.

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.
• Danaher – Masimo: On February 17, 2026, Danaher agreed to acquire Masimo for approximately $9.9 billion, including assumed debt. Masimo develops pulse oximetry and patient monitoring technologies widely used in hospitals and acute care settings. The company will operate within Danaher’s diagnostics segment after the deal closes, which is expected in the second half of 2026.
• Blackstone & TPG – Hologic: In February 2026, China’s State Administration for Market Regulation approved the planned acquisition of Hologic by private equity firms Blackstone and TPG. The $18.3 billion transaction will take the women’s health diagnostics and medical imaging company private. The deal still requires additional regulatory approvals and closing conditions.
• Abbott – Exact Sciences: On February 20, 2026, Exact Sciences shareholders approved the company’s proposed acquisition by Abbott. Under the agreement, Abbott will acquire the cancer diagnostics company for $105 per share in cash. The transaction is expected to close before the end of the second quarter of 2026, pending final regulatory conditions.

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.
• Arterex – Synecco: On January 6, 2026, Arterex acquired Synecco, an Ireland-based company that designs, develops and manufactures medical devices for other medtech companies. Synecco provides services such as device engineering, injection molding and assembly, including technologies used in structural heart treatments. The deal expands Arterex’s European design and manufacturing capabilities.
• Cinova Medical – Elastomer Technologies: On March 4, 2026, Cinova Medical acquired Elastomer Technologies, a California manufacturer specializing in silicone rubber components used in medical devices. Elastomer Technologies will continue operating at its current facility while Cinova expands a new cleanroom for silicone molding. The acquisition strengthens Cinova’s contract manufacturing capabilities for device components and finished products.
• MGS – Knudsen Plast A/S: On February 23, 2026, healthcare manufacturing company MGS acquired Knudsen Plast A/S, a Denmark-based injection molding specialist serving medical device manufacturers. Knudsen Plast operates facilities in Denmark and Slovakia and produces plastic components used in healthcare products. The acquisition expands MGS’s European manufacturing capacity and cleanroom production.

Medtech Platforms, Distribution & Market Expansion

• Johnson & Johnson – DePuy Synthes (Potential Divestiture Exploration): In February 2026, Johnson & Johnson began exploring a potential sale of its orthopedics business, DePuy Synthes, which could be valued at more than $20 billion. DePuy Synthes produces devices used in procedures such as hip and knee replacements. Discussions with potential buyers are at an early stage and may not lead to a transaction.
• Sanlam Private Equity – Medhold Group (Majority Stake Investment): On February 12, 2026, Sanlam Private Equity acquired a majority stake in Medhold Group, a Southern Africa-based distributor of medical devices and hospital equipment. Medhold supplies technologies for areas including orthopaedics, operating theatres, intensive care and clinical imaging. The investment is intended to support the company’s regional expansion and strengthen the distribution of medical technologies across Southern Africa.

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