Med-tech M&A activity opened 2026 at a slower pace, with January deal value totaling $665.33 million, coming in well below the 2025 monthly average of $3.51 billion and trailing most individual months last year.

While in 2025 med-tech financings averaged $3.3 billion per month, January 2026 saw the sector bring in $1.52 billion across 39 transactions. It was the lowest monthly total since November 2024’s $924.59 million. However, a number of months last year saw fluctuating values, ranging from $1.65 billion in July to $8.26 billion in December 2025, indicating uncertainty as to how industry financings will shake out this year.