Top 10 Medical Technology M&A Deals in the First Half of 2026

Source: MEDTECHDIVD

In the first half of 2026, global medical device mergers and acquisitions continued the momentum of reaching a decade-high level seen in 2025. Multinational giants such as Boston Scientific, Medtronic, and Stryker have all taken action to accelerate their entry into high-growth sectors.

According to a PwC report, the total value of medical device M&A in the first half of the year reached$36.5 billion, with both the transaction volume and amount exceeding the median levels of the same period in 2025.

Below are the top ten M&A transactions in the global medical device sector in the first half of 2026:

Amount: $14.5 billion

Announcement Date: January 15

Boston Scientific reached an agreement early this year to acquire Penumbra’s thrombectomy devices. Penumbra also markets hemostasis control systems, and its thrombectomy products are indicated for conditions such as pulmonary embolism, stroke, and deep vein thrombosis. In a January research note, BTIG analyst Ryan Zimmerman wrote that the transaction would enable Boston Scientific to enter new markets in thrombectomy and embolization therapy, adding a growth asset to its portfolio. Boston Scientific expects to close the deal within this year.

Amount: $9.9 billion

Completion Date: June 10

Danaher Acquires Masimo for $9.9 Billion, Establishing Itself as a Competitor to Medtronic in Pulse Oximetry MonitoringDanaher has acquired Masimo for $9.9 billion, cementing its position as a competitor to Medtronic in the field of pulse oximetry monitoring. The company believes that Masimo complements its existing Radiometer business, which focuses on blood gas analysis and other testing in acute care settings. Based on business overlaps, Danaher expects to achieve annual cost synergies of $125 million and annual sales synergies exceeding $50 million by the fifth full year following the completion of the transaction. Radiometer, founded in Denmark, can leverage its European presence to help Masimo grow in the region.

Amount: USD 1.5 billion

Announcement Date: May 18

Boston Scientific Pays $1.5 Billion for Approximately One-Third Equity Stake in MiRus, LLC. The transaction grants Boston Scientific an exclusive option to acquire MiRus’s transcatheter aortic valve replacement (TAVR) system, subject to an additional aggregate cash payment of $3 billion and the achievement of specified milestones. Boston Scientific stated that MiRus’s Siegel System is the first nickel-free, balloon-expandable TAVR valve designed to restore function and normal blood flow in severely stenotic aortic valves. Following setbacks with the Acurate Neo2, Acurate Prime, and Lotus Edge systems, acquiring this device could position Boston Scientific to re-emerge as a challenger in the TAVR market.

Amount: US$1.27 billion

Announcement Date: April 14

Avanos Medical Accepts Privatization Offer from Private Equity Firm American Industrial Partners. The specialized nutrition and pain management company competes with rivals such as Boston Scientific, Cook Medical, Medtronic, and Stryker. Avanos CEO Dave Pacitti stated that AIP will support the company in strengthening its competitive position.

Amount: $1.08 billion

Announcement Date: April 27

Thermo Fisher Scientific has accepted Astorg’s acquisition offer for its microbiology business. This business sells antimicrobial susceptibility testing and culture media products for clinical, pharmaceutical, and food safety applications. The private equity firm Astorg will operate it as an independent private platform.

Amount: $750 million upfront payment + up to $300 million in milestones

Announcement Date: May 7

Roche Agrees to Acquire PathAI, Gaining Ownership of Its Digital Pathology Platform. The Swiss company plans to promote the PathAI platform globally and integrate the acquired tools with its existing cancer diagnostic capabilities. Roche believes that PathAI’s clinical trial support and translational research capabilities are highly aligned with its expertise in companion diagnostics.

Amount: USD 950 million

Completion Date: June 25

Agilent Acquires Biocare Medical, Gaining Automated Immunohistochemistry Instruments and Reagents. The product line generated over $90 million in sales last year, with target markets including the diagnosis and research of cancer and infectious diseases. Agilent serves these same sectors through its Life Sciences and Applied Markets Group.

Amount: $435 million upfront payment + up to $400 million in milestones

Completion Date: May 7

Stryker Acquires Amplitude Vascular Systems, Adding an Intravascular Lithotripsy Platform to Its Portfolio. Johnson & Johnson Established a Leading Position in the IVL Space by Acquiring Shockwave Medical for $13.1 Billion in 2024. Boston Scientific and Abbott Have Since Entered the Field. In an April Research Report, Leerink Partners Analyst Mike Kratky Wrote That Amplitude’s Pulse System Is “One of the Most Credible Next-Generation Shockwave IVL Challengers.”

Amount: US$650 million

Announcement Date: May 20

Medtronic Agrees to Acquire SPR Therapeutics to Expand Its Neuromodulation Portfolio. SPR markets Sprint, a peripheral nerve stimulation device for the treatment of chronic pain. The device provides pain relief for up to 60 days. Medtronic views this temporary device as a pathway to earlier intervention for patients with chronic pain.

Amount: USD 585 million

Completion Date: April 20

Medtronic Acquires CathWorks to Secure Greater Influence in the Catheterization Lab. CathWorks markets a system called FFRangio, which leverages artificial intelligence and computational science to assess the entire coronary tree using conventional X-ray angiography. Medtronic has been jointly promoting this system in the United States, Europe, and Japan since 2022.