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Medical Technology M&A Pulse – Q1 2026

June 4, 2026

MEDICAL TECHNOLOGY M&A MARKET DYNAMICS

  • M&A activity slowed in Q1 2026, with deal volume hitting a multi‑year low, reflecting a shift toward fewer, higher‑conviction transactions.
  • Strategic buyers dominated the market, accounting for ~87% of deals, as financial sponsor activity declined materially amid higher financing costs.
  • Deal activity in Q1 2026 reflected a continued pivot toward core, clinically essential segments, led by Medical Equipment (31%) and Services (24%), with Therapeutic Devices accounting for 16%, Contract Manufacturing ~11%, and Consumables/Disposables 7%, highlighting buyer focus on diagnostics, preventative care, and recurring‑demand end markets.

M&A activity in the Medical Technology sector stayed on par with the previous two quarters, with 105 announced transactions. Volume is significantly lower than the same quarter last year, with 135 deals in Q4 2024.

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M&A activity in the Medical Technology sector remained subdued in Q3 2025 at 102 announced transactions, significantly below the 165 deals recorded in Q3 2024.

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M&A activity in the Medical Technology sector remained subdued in Q2 2025, with 104 announced transactions, a decline from the 128 deals recorded in Q2 2024.

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MEDICAL TECHNOLOGY M&A MARKET DYNAMICS M&A activity in the Medical Technology sector was relatively soft in Q1 2025, with 118 announced transactions, falling short of the 135 deals recorded in Q1 2024. To keep pace with the relatively stable deal volumes seen over the past three years on a yearly basis, the market will need…

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MedTech M&A deal volume in 2024 remained consistent with 2023 levels despite headwinds from rising input costs and regulatory shifts over the past year.

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