Nearly a year after the first U.S. commercial launch of the multicancer molecular residual disease (MRD) detection platform Pathlight, developer Saga Diagnostics entered a definitive merger agreement under which Roche Holding AG subsidiary Foundation Medicine Inc. will take over the firm in return for up to $595 million in payments.

Med-tech M&A activity surged in March 2026, with deal value reaching $23.66 billion, the highest monthly total since June 2022’s $36.27 billion and a sharp increase from $17.53 billion in February and $1.69 billion in January.

Regeneron Pharmaceuticals Inc. is entering the radiopharmaceutical space via a collaboration with Telix Pharmaceuticals Ltd. to jointly develop and commercialize next-generation radiopharmaceutical therapies.

Avanos Medical Inc. has agreed to be acquired by affiliates of American Industrial Partners (AIP)  in an all-cash deal valuing the company at approximately $1.272 billion. Under the terms of the definitive agreement, Avanos stockholders will receive $25 per share in cash for each share of common stock they hold.

Stryker Corp. has signed a definitive agreement to acquire Amplitude Vascular Systems Inc. (AVS) in a bid to strengthen its Peripheral Vascular portfolio, by adding a revascularization technology.

Regeneron Pharmaceuticals Inc. is entering the radiopharmaceutical space via a collaboration with Telix Pharmaceuticals Ltd. to jointly develop and commercialize next-generation radiopharmaceutical therapies.

Revenio Group Oyj has agreed to acquire ophthalmic diagnostics company Visionix International SAS for an enterprise value of €290 million (US$339 million) as it looks to become a leading player in the global eye care market. The deal expands Revenio’s offering with a highly complementary product and software portfolio, including optical coherence tomography equipment, an important and growing segment which is new to the company.

Med-tech deal value, excluding M&As, totaled $628.41 million in the first quarter (Q1) of 2026, an increase of about 322% from the $149.08 million recorded in Q1 2025 though a 36% drop from Q4 2025‘s $978.58 million.

Eli Lilly and Co. is deepening its investment in artificial intelligence-driven drug discovery through a multibillion-dollar expansion of its collaboration with Hong-Kong listed Insilico Medicine Inc. in a move that could broaden its reach into next-generation metabolic therapies. Under the deal terms, Insilico is eligible to receive $115 million up front, plus development, regulatory, and commercial milestone payments worth $2.75 billion, in addition to sales-based royalties. In exchange, Lilly gains exclusive global rights to develop and commercialize multiple candidates generated using Insilico’s AI platform, including preclinical oral therapies.

Eli Lilly and Co. is deepening its investment in artificial intelligence-driven drug discovery through a multibillion-dollar expansion of its collaboration with Hong-Kong listed Insilico Medicine Inc. in a move that could broaden its reach into next-generation metabolic therapies.