Medtronic plc acted on the increase in M&A and expansion of its investment ecosystem touted at the J.P. Morgan Healthcare Conference earlier this month with a $90 million infusion into Brisbane, Australia-based Anteris Technologies Global Corp. The investment had been contingent on a public offering of stock by Anteris, which it completed on Jan. 22. Together, the new funds for the biomimetic heart valve company totaled $320 million.

Zylox-Tonbridge Medical Technology Co. Ltd. plans to expand globally with M&As, company chairman and CEO Jonathon Zhong Zhao told BioWorld, starting with a stepwise acquisition of Optimed Holding GmbH and its subsidiaries, including Optimed Medizinische Instrumente GmbH.

Med-tech M&A activity cooled in 2025, with total reported deal value falling to about $42.14 billion, down from $57.9 billion in 2024 and far below the levels seen in 2021 and 2022, when annual totals exceeded $150 billion.

Boston Scientific Corp. looked ready to keep steamrolling down the acquisition path, carrying the momentum from last year, with the news that it is acquiring Penumbra Inc., a company that makes devices for interventional therapies to treat vascular conditions such as stroke and aneurysm, for a whopping $14.5 billion.

Affluent Medical SAS is becoming Carvolix after it entered into binding agreements to acquire Caranx Medical SAS for €16.6 million (US$19.34 million) and Artedrone SAS for €11.4 million. The aim is to create an integrated med tech company which will focus on revolutionizing cardiac valve replacement and stroke treatment through AI-driven autonomous mini-robots and innovative implants.

Edwards Lifesciences Corp. said it is scrapping plans to acquire Jenavalve Technology Inc. for $945 million after a federal court ruled against the company in a case brought by the U.S. Federal Trade Commission (FTC) to block the deal.

Haemonetics Corp. acquired Vivasure Medical Ltd. for €100 million (US$116 million) cash plus up to an additional €85 million (US$99 million) in contingent payments based on sales and other milestones. The deal continues nearly four years of increasing investment in Vivasure by Haemonetics in support of its latest version of the Perqseal vessel closure device.

In a big week for W.L. Gore & Associates Inc., the company reported plans to acquire Conformal Medical Inc. and received U.S. FDA approval for its Viabahn Fortegra venous stent for use in the inferior vena cava, iliac and iliofemoral veins.

It appears that Staar Surgical Co.'s proposed $1.6 billion merger with Alcon AG has been scrapped as Staar shareholders voted against the deal in a stockholder meeting on Jan. 6. In a statement Staar said it intends to terminate its merger agreement with Alcon. No termination fee will be payable by either party, and Staar will remain a stand-alone, publicly traded company.

Four optimization trends dominated the med-tech industry in 2025. Growth-driven acquisitions propelled major players into hot markets, while strategic realignments at several large companies prompted notable exits as well as a few tuck-in deals. Spin-offs continued their mixed performance, with several companies on track for significant splits and others changing plans. Private equity entered — and exited — with leveraged buy outs, and a record-setting cash out.