MedTech M&As in 2025: A Roundup

MedTech M&As in 2025 featured an array of transactions — from acquisitions that bolster interventional systems and digital testing capabilities to strategic moves in manufacturing and specialized equipment — that underscore the sector’s commitment to advancing technology and operational excellence.

Stay tuned for Xtalks’ monthly updates on M&As across the MedTech sector, with the next installment covering March 2025, as we continue to track and analyze emerging trends in MedTech M&As.

This blog covers transformative deals in the medtech space — from device innovations to manufacturing enhancements — that are driving product excellence and expanding global capabilities.

Interventional Devices & Surgical Technology

• Aptyx – Medical Murray’s NC Facility: Aptyx expanded its interventional portfolio by acquiring Medical Murray’s North Carolina facility — specializing in catheter‐based interventional products and transcatheter implants — to support its next-generation system launch.
• KARL STORZ – T1V’s Medical Biz: KARL STORZ strengthened its global digital surgery suite by acquiring T1V’s medical business, which includes the CollaboratOR system exclusively sold since 2018, to integrate advanced hardware and software solutions.
• Boston Scientific – Bolt Medical: Boston Scientific enhanced its cardiovascular offerings by acquiring Bolt Medical, the pioneer of the intravascular lithotripsy concept developed in 2019, in a $664 million deal with milestone-based payments.
• Stryker – Inari Medical: Stryker fortified its innovation in vascular therapies by acquiring Inari Medical — whose non-thrombolytic clot removal solutions complement its neurovascular portfolio — in a transaction valued at roughly $4.9 billion.
• Tyber Medical, Intech & Resolve Surgical Technologies (Merger): Tyber Medical, Intech, and Resolve Surgical Technologies have merged to create a next-generation medtech solutions provider that unifies product development with enhanced after-sales service.
• Argon Medical Acquires SeQure and DraKon Microcatheters: Argon Medical broadened its oncology intervention portfolio by acquiring the SeQure and DraKon microcatheters, enabling precise therapeutic delivery in cancer treatments.
• Teleflex – Biotronik’s Vascular Intervention Unit: Teleflex, a leader in medical technology, will acquire Biotronik’s vascular intervention unit for approximately €760 million (roughly $823 million). This acquisition strengthens Teleflex’s interventional device portfolio and aims to enhance treatment outcomes in vascular procedures.​
• Boston Scientific – SoniVie Ltd: Boston Scientific expanded its interventional medical devices portfolio by acquiring SoniVie Ltd. The move integrates innovative technology that complements Boston Scientific’s existing interventional solutions, aiming to drive improvements in procedural outcomes.
• Medtronic – Nanovis Nano-Surface Implant Technology: Medtronic acquired nano-surface technology from Nanovis, a cutting-edge treatment that accelerates bone growth on spinal implants. By incorporating this innovation into its next-gen spinal fusion devices, Medtronic aims to address key challenges in spinal surgeries.​
• Globus Medical – Nevro: Globus Medical announced an all-cash acquisition of Nevro, a company specializing in spinal cord stimulation devices for chronic pain management. Valued at around $250 million, this deal emphasizes the growing focus on innovative pain management solutions.
• DeRoay Acquires Predictive Oncology Skyline Medical Assets: DeRoyal acquired the STREAMWAY system, a closed-loop surgical fluid management platform designed to reduce biohazard exposure and eliminate canister-based waste handling in ORs.
• Ostial Corporation Becomes Verge Medical: Ostial rebranded as Verge Medical after acquiring Wavella, a catheter-based rotational atherectomy platform designed for eccentric calcified lesions in peripheral and coronary arteries.
• Alcon – LENSAR, Inc.: Alcon announced plans to acquire LENSAR, adding the ALLY femtosecond laser and Streamline software, which integrate real-time imaging and energy modulation for cataract surgery.
• Globus Medical – Nevro Corp.: Globus Medical finalized its acquisition of Nevro Corp. in an all-cash transaction, adding spinal cord stimulation systems for pain management to its therapeutic offerings. The deal taps into a $2.5 billion opportunity within the broader musculoskeletal market — one that includes potential growth in neuromodulation and adjacent care areas.
• VB Spine – Stryker (US Spine Business): VB Spine LLC was formed by Viscogliosi Brothers to acquire Stryker’s US spine business. The acquisition includes access to technologies like Mako Spine and Copilot, allowing VB Spine to broaden its presence in spinal implants and procedure-enabling platforms.
• Merit Medical – Biolife Delaware: Merit Medical acquired Biolife Delaware to strengthen its interventional product offerings with hemostatic agents. The products are used to manage bleeding during procedures in oncology, vascular access and spine surgery.
• Highridge Medical – Bone Healing Division Divestiture: Highridge Medical divested its bone healing division to streamline its portfolio and increase investment in its spine and orthopedic surgery business. The divested products included electrical stimulation technologies designed to support bone growth in fracture healing.
• electroCore – NeuroMetrix: electroCore acquired NeuroMetrix, gaining access to Quell, a wearable neuromodulation device that delivers transcutaneous electrical nerve stimulation (TENS) for the treatment of chronic pain. The acquisition also includes regulatory approvals, reimbursement codes and an established commercial channel.
• Firefly Neuroscience – Evoke Neuroscience: Firefly Neuroscience acquired Evoke Neuroscience to expand its brain health portfolio with EEG-based tools. The acquisition brings FDA-cleared hardware and software used to assess cognitive function in conditions such as concussions and age-related cognitive decline.
• EssilorLuxottica – Optegra Clinics: EssilorLuxottica acquired Optegra’s network of ophthalmic clinics to build out its capabilities in surgical eye care. The clinics provide operating infrastructure for procedures like cataract surgery and laser vision correction across several European countries.
• Zimmer Biomet – Monogram Technologies: Zimmer Biomet is acquiring Monogram Technologies to expand its surgical robotics portfolio. The deal adds Monogram’s autonomous joint replacement platform, reinforcing Zimmer’s push into AI-driven, personalized orthopedic surgery.
• Companion Spine – Xtant Medical Holdings (Spine Assets): Companion Spine is acquiring spine implant assets — including Coflex and CoFix systems — from Xtant Medical Holdings. The deal broadens Companion’s lumbar spine offerings for degenerative back conditions.
• Alcon – LumiThera: Alcon will bring LumiThera into its vision care business, adding the company’s photobiomodulation device for early and intermediate dry age-related macular degeneration (AMD). The deal expands Alcon’s non-invasive treatment options for retinal diseases.
• Innovia Medical – Two Acquisitions (ENT & Ophthalmology): Innovia Medical has completed two acquisitions, adding ENT and ophthalmic surgical products to its portfolio. The move positions Innovia as a multi-specialty surgical device manufacturer.
• SK Capital – LISI Group’s Medical Division: SK Capital has entered exclusive negotiations to acquire the medical division of LISI Group. The division makes precision implants and instruments for orthopedics and dental applications.
• Teleflex – Biotronik (Vascular Intervention Business): Teleflex has completed its acquisition of Biotronik’s vascular intervention unit. The deal adds a portfolio of peripheral and coronary products, likely expanding Teleflex’s global reach in catheter-based treatments.
• Avista Healthcare Partners – Highridge Medical (Bone Healing Division): Avista Healthcare Partners has acquired the bone healing division of Highridge Medical. The divestiture allows Highridge to sharpen its focus on spinal innovation, while Avista gains access to regenerative technologies that support orthopedic recovery.
• Aspen Surgical – Cygnus Medical & Flagship Surgical: Aspen Surgical acquired Cygnus Medical and Flagship Surgical, adding infection control, instrument care and operating room safety products. The acquisitions expand Aspen’s perioperative portfolio and strengthen its presence in sterile processing departments and surgical safety.
• Driving Force – Wenzel Spine VMA Technology: Driving Force acquired Vertebral Motion Analysis (VMA) technology from Wenzel Spine. The FDA-cleared imaging system uses dynamic fluoroscopy to diagnose spinal ligament injuries, offering more precise diagnostics than standard MRI or X-ray.
• Investor Consortium – HistoSonics: HistoSonics, developer of the Edison histotripsy system for noninvasive tumor treatment, sold a majority stake to an investor group including K5 Global, Bezos Expeditions and Wellington. The $2.25 billion deal funds the expansion of histotripsy beyond liver tumors into kidney, pancreas and prostate indications.
• Alcon – STAAR Surgical: Alcon agreed to acquire STAAR Surgical for $1.5 billion ($28 per share), adding the EVO Implantable Collamer Lens line for myopia and astigmatism. The deal cleared antitrust review but faces shareholder opposition from Broadwood Partners, which argues the price undervalues Closing is expected within 6 to 12 months of the August 2025 announcement.
• Inverness Graham/Innovia Medical – Grace Medical and Hurricane Medical: Innovia Medical, backed by Inverness Graham, has completed the acquisitions of Grace Medical and Hurricane Medical. The additions strengthen Innovia’s position as a vertically integrated manufacturer of single-use surgical instruments and consumables for ENT and ophthalmic procedures.

Materials & Manufacturing Solutions

• GEON Performance Solutions – Foster Corporation: GEON Performance Solutions diversified its offerings by acquiring Foster Corporation, a key supplier of high-performance biomedical polymers critical for medtech manufacturing.
• Intek Plastics – Five Star Plastics: Intek Plastics enhanced its production capabilities by acquiring Five Star Plastics, thereby expanding its suite of manufacturing services across the medical device sector.
• Gainline Capital Partners – M&M International: Gainline Capital Partners extended its operational scale by acquiring M&M International, a specialist in precision components that drives product innovation in medtech.
• Aspen Medical Products – Advanced Orthopaedics: Aspen Medical Products acquired Advanced Orthopaedics to extend its expertise beyond spine innovation and tap into the growing bracing and supports market. This move integrates Advanced Orthopaedics’ portfolio of bracing solutions and orthopedic soft goods, enhancing global reach and establishing a platform for rapid growth.​
• Integer – Precision Coating: Integer, a leading contract manufacturer in the medical device industry, announced the acquisition of Precision Coating. This acquisition enhances Integer’s capabilities in advanced coating technology, a key component in improving the performance and durability of implantable devices.
• Holdings – Surmodics Inc. (blocked by FTC): GTCR BC Holdings’ bid to acquire Surmodics Inc., a leader in hydrophilic coatings for medical devices, was blocked by the Federal Trade Commission (FTC) over antitrust concerns. The deal would have given GTCR control of over 50% of the outsourced coatings market, raising competition risks in a sector critical for implantable devices. This case is an example of the regulatory scrutiny on medtech consolidation, especially where market dominance may stifle innovation or drive up costs.
• SVP and Stellex – Exactech: Exactech, known for its Truliant and Vantage implant lines, was acquired by SVP and Stellex to support the continued development of its AI-powered Active Intelligence surgical planning suite.
• Medical Manufacturing Technologies (MMT) – Innova Design and Comco: Medical Manufacturing Technologies (MMT) acquired Innova Design, which specializes in catheter laser bonding technology. The acquisition strengthens MMT’s portfolio of medical device manufacturing solutions, adding advanced bonding and laser systems used in interventional cardiology. Previously, MMT acquired Comco, a specialist in micro-precision sandblasting systems used in medical device production. The addition expanded MMT’s microblasting and abrasive technology portfolio, strengthening its end-to-end capabilities for device manufacturing.
• TEAM Technologies – TAG3 Engineering and Duke Empirical: TEAM Technologies has acquired TAG3 Engineering, a medtech design and development firm. The deal expands TEAM’s capabilities in front-end device design, engineering, regulatory processes and verification and validation (V&V) testing for medical device companies. A few months earlier, TEAM acquired Duke Empirical, a designer and manufacturer of catheters and minimally invasive cardiovascular delivery systems. The acquisition enhanced TEAM’s full-service manufacturing capabilities and broadened its support for complex Class II and III medical devices.

Medical Devices and Manufacturing

• Kingswood Capital – Drive DeVilbiss Healthcare: Kingswood Capital Management announced a definitive agreement on October 16, 2025, to acquire Drive DeVilbiss Healthcare, a global manufacturer of home medical and respiratory products. The acquisition aims to speed up product innovation and strengthen Drive’s presence across more than 100 countries.
• Praxis Packaging Solutions – Advanced Concept Innovations (ACI): Praxis Packaging Solutions acquired Advanced Concept Innovations (ACI) on September 25, 2025, expanding its contract packaging capabilities for pharma, medical devices and OTC products. The deal adds 160,000 ft² of manufacturing space in Florida and broadens Praxis’ national footprint to nearly one million ft².
• Boston Scientific – Nalu Medical: Boston Scientific announced a definitive agreement to acquire Nalu Medical, a developer of miniaturized, battery-free neurostimulation systems for chronic pain, for approximately $533 million in upfront cash. Nalu’s FDA-cleared system uses wireless peripheral nerve stimulation to treat intractable pain and has shown durable pain relief in clinical trials. The deal builds on Boston Scientific’s neuromodulation portfolio.

Diagnostics & Testing Services​

• Thermo Fisher Scientific – Solventum’s Filtration Business: Thermo Fisher Scientific plans to acquire Solventum’s purification and filtration business for roughly $4.1 billion. This division specializes in advanced filters and membranes used in both biologics production and medical device manufacturing, aiming to enhance both drug development and device safety.​
• Quest Diagnostics – Fresenius Medical Care’s Kidney Testing Assets: Quest Diagnostics agreed to acquire kidney testing assets from Fresenius Medical Care. Although financial details have not yet been disclosed, this move will bolster Quest Diagnostics’ capabilities in diagnostic testing, specifically for dialysis and kidney function.
• Advanced Instruments – Nova Biomedical: The merger combines Advanced Instruments’ osmolality and cell culture analyzers with Nova’s blood gas and glucose testing systems, creating a unified life sciences diagnostics platform.
• Firefly Neuroscience – Evoke Neuroscience: Firefly Neuroscience acquired Evoke Neuroscience for $6 million in a mix of cash and stock, with an additional $500,000 earn-out. The deal significantly increases Firefly’s EEG/ERP data assets, expands its IP portfolio and strengthens its commercial presence in cognitive assessment and brain health analytics.
• RadNet – iCAD: RadNet agreed to acquire iCAD in an all-stock deal valued at approximately $103 million, offering 0.0677 shares of RadNet for each iCAD share. The transaction brings iCAD’s AI-based mammography and oncology tools into RadNet’s DeepHealth platform, expanding its footprint in early cancer detection.
• Bruker – biocrates: Bruker acquired biocrates Life Sciences to expand its analytical portfolio with disease-related molecule measurement kits. The acquisition supports Bruker’s focus on clinical research and precision medicine in areas like metabolism and inflammation.
• Algernon – NoBrainer Imaging Centers: Algernon acquired NoBrainer Imaging Centers to develop Alzheimer’s-focused diagnostic clinics that use PET imaging for early detection of amyloid and tau proteins. The model integrates diagnostics with future treatment offerings based on Algernon’s investigational pipeline.
• Lantheus – Life Molecular Imaging: Lantheus will acquire Life Molecular Imaging in a $750 million deal. The acquisition will bring a portfolio of PET tracers for Alzheimer’s and oncology imaging into Lantheus’ nuclear diagnostics pipeline.
• RadNet – SeeMode Technologies: RadNet has taken over SeeMode Technologies, a Singapore-based AI firm focused on vascular imaging. The acquisition adds automated diagnostic capabilities to RadNet’s growing suite of AI tools.
• Premier Radiology – MetisMD: Premier Radiology has brought MetisMD under its umbrella to expand subspecialty reads and second-opinion services. The deal strengthens Premier’s national teleradiology footprint.
• GE HealthCare – icometrix: GE HealthCare signed an agreement to acquire icometrix, developer of AI-powered brain MRI analysis tools. The integration will strengthen GE’s neurology portfolio with decision support for Alzheimer’s disease, multiple sclerosis (MS) and other neurological conditions.
• Empatica – PKG Health: Empatica acquired PKG Health, integrating its movement disorder algorithms into Empatica’s FDA-cleared wearable platform. The deal strengthens digital biomarker tools for Parkinson’s trials and clinical care across 150 global sites.
• Glooko – Monarch Medical Technologies: Glooko acquired Monarch Medical, developer of the EndoTool insulin dosing platform. The move extends Glooko’s diabetes care from outpatient monitoring into inpatient glycemic management, offering a hospital-to-home solution to improve glucose control and reduce complications.

Digital Therapeutics, AI & Health Tech

• MoveUp – Deep Structure AI: MoveUp revealed plans to acquire Deep Structure AI to strengthen its AI-driven orthopedic care solutions. This strategic move is designed to integrate advanced deep learning technology into MoveUp’s digital health platform, enhancing the precision and personalization of orthopedic treatment planning.​
• Surgimate – ImplantBase: Surgimate’s acquisition of ImplantBase expands its surgical coordination software suite by adding an inventory logistics and sales operations platform, enhancing workflow efficiencies for medical device manufacturers and distributors.
• electroCore – NeuroMetrix: electroCore completed its $9 million acquisition of NeuroMetrix, including $4.49 per share in cash and performance-based contingent value rights. The addition of the FDA-cleared Quell system supports electroCore’s focus on non-invasive therapies for chronic pain and fibromyalgia, particularly within the VA healthcare system.
• Sun Nuclear – Oncospace: Sun Nuclear acquired Oncospace, a company providing software for radiation oncology that uses patient data to evaluate treatment outcomes and plan quality. The tools are designed to support evidence-based improvements in radiotherapy protocols and clinical decision-making.
• TailorCare – Stabl: TailorCare acquired Stabl’s computer vision platform for real-time patient monitoring during musculoskeletal (MSK) recovery. The technology enhances TailorCare’s digital rehabilitation ecosystem by enabling at-home exercise tracking without wearables.
• Zepp Health – Wild.AI: Zepp Health, parent of Amazfit, acquired the core assets of Wild.AI, a women’s wellness platform focused on hormone-informed training. The deal expands Zepp’s wearable ecosystem with personalized cycle-aware coaching tools for female athletes.

Drug Delivery & Respiratory Technologies

• Phillips Medisize – Vectura: Phillips Medisize bolstered its drug delivery portfolio by acquiring Vectura, whose proprietary dry powder inhaler technology expands its respiratory therapy solutions.
• Eyenovia and Betaliq Enter Reverse Merger: Eyenovia and Betaliq plan to merge, combining Optejet piezo-print technology for microdosing with EyeSol, a water-free formulation platform targeting glaucoma and dry eye.
• ResMed – VirtuOx: ResMed acquired VirtuOx, a virtual diagnostic company specializing in sleep and respiratory testing. While financial terms were not disclosed, the acquisition is expected to support ResMed’s connected health strategy and enhance access to home-based diagnostic services.

Women’s Health

• Hologic – Gynesonics: Hologic expanded its women’s health portfolio by acquiring Gynesonics, thereby enhancing its intrauterine imaging and transcervical fibroid treatment capabilities to capture a greater market share.
• Caldera Medical – Ethicon’s GYNECARE TVT Family of Products: Caldera Medical expands its women’s health portfolio by acquiring Ethicon’s TVT family — gaining proven pelvic floor repair devices that address stress urinary incontinence and pelvic organ prolapse.

Wound Care

• RF Health – HeelP.O.D. Pressure Offloading Device: RF Health acquires the HeelP.O.D. device, which leverages advanced sensor technology to monitor and redistribute pressure, reducing pressure injury risks in clinical and long-term care settings.

Specialized Equipment & Manufacturing Solutions

• Danaher Cryogenics – ADR Cryostat Product Line: Danaher Cryogenics reinforced its sub-kelvin technology portfolio by acquiring the ADR Cryostat product line, expanding its reach within the specialized cryogenics market.

Laboratory Workflow Tools

• STEMCELL Technologies – Cellular Highways: STEMCELL Technologies acquired Cellular Highways to expand its lab tools portfolio with microfluidic cell sorting systems. The technology supports automated, gentle cell separation in workflows relevant to cell therapy development and immunology research.
• Instrumentum – SPDx & SPSA: Instrumentum has acquired the Sterile Processing Express (SPDx) and Sterile Processing Services of America (SPSA), two sterile processing firms, to expand its reach in surgical support services. The move boosts Instrumentum’s national footprint in reusable device reprocessing and instrumentation prep.

Testing & Clinical Research

• NAMSA – US Medical Device Testing Operations: NAMSA has augmented its clinical research and testing capabilities by acquiring WuXi AppTec’s US operations in Minnesota and Georgia — its ninth acquisition since joining ARCHIMED — to enrich its service portfolio.

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