Total med-tech financings reached $8.54 billion in the first quarter (Q1) of 2026, reflecting a modest pullback from $9.33 billion in the same period of 2025 but remaining well above previous years. The Q1 2026 total exceeds the $6.45 billion recorded in Q1 2024 and $4.69 billion in Q1 2023, signaling continued recovery from the post-2021 downturn.

Two biotech and three med-tech companies are slated for Kosdaq debuts this month, signaling a potential rebound for Korea financings in 2026. Kanaph Therapeutics Inc. will open with a ₩40 billion (US$26.99 million) raise and Imbiologics Corp. will debut with ₩52 billion. Additionally, Mezoo Co. Ltd., Cosmo Robotics Co. Ltd. and Recensmedical Inc. will launch IPOs.

Two biotech and three med-tech companies are slated for Kosdaq debuts this month, signaling a potential rebound for Korea financings in 2026. Kanaph Therapeutics Inc. will open with a ₩40 billion (US$26.99 million) raise and Imbiologics Corp. will debut with ₩52 billion. Additionally, Mezoo Co. Ltd., Cosmo Robotics Co. Ltd. and Recensmedical Inc. will launch IPOs.

Med-tech financings totaled $6.08 billion in the first two months of 2026, slightly below the $6.31 billion raised in January to February 2025, a year-over-year decline of about 4%. Even so, the early 2026 total remains well above the openings seen in 2020 ($5.61 billion), 2022 ($4.36 billion), 2023 ($1.67 billion) and 2024 ($4.66 billion).

Pricing shares at $20 each, below the intended price range, insulin delivery company Minimed Group Inc. debuted with an IPO on Nasdaq March 6, raising $560 million. The company offered a total of 28 million shares, which would have brought the Northridge, Calif.-based company $742 million in gross proceeds if the IPO had priced at the midpoint of the $25-to-$28 price range disclosed in February.

Minimed Group Inc., Medtronic plc’s diabetes business, is looking to raise up to $784 million in its IPO. Medronic last May revealed plans to spin off the unit as an independent public company and expected to complete the separation within 18 months.

After a prolonged downturn, the med-tech IPO market rebounded in 2025, with deal value surging to $13.01 billion across 31 offerings. The recovery followed two muted years, with just $619 million raised in 2024 and a low-point of $110 million in 2023.

Insight Lifetech Co. Ltd. listed on the Shanghai Stock Exchange’s STAR market via an unprofitable biotech track reinstated last year, with the Feb. 5 IPO raising ¥998.64 million (US$143.93 million).

Global investors in med tech are confident about exit opportunities in the year ahead. The strategics have already started making acquisitions, the IPO window – which reopened last year – is expected to remain active, and the investment firms have companies in their portfolios that are well-positioned for exit. With fundamentals in the sector still robust, 2026 is expected to reward companies that deliver clear clinical value.

Insight Lifetech Co. Ltd. listed on the Shanghai Stock Exchange’s STAR market via an unprofitable biotech track reinstated last year, with the Feb. 5 IPO raising ¥998.64 million (US$143.93 million).