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Join Glenn Hunzinger, PwC’s US Health Industries Leader, and James Woods, PwC’s US Med Tech Leader, as they discuss the outlook for med tech dealmaking in 2026 and the strategies companies are using to drive growth amid market uncertainty. They explore how organizations are navigating capital market pressures, supply chain challenges, tariffs, and geopolitical risks while continuing to invest in innovation, connected care, and portfolio transformation. The conversation highlights the growing role of strategic acquisitions, divestitures, and private equity investment, as well as what leaders should prioritize to create value and maintain a competitive edge in an evolving healthcare landscape.
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We’ve summarized the full discussion in a short Q&A format so you can get the highlights in minutes.
What is keeping MedTech deal activity moving?
Q. Glenn Hunzinger
MedTech companies continue to face supply chain challenges, capital market pressures, and geopolitical uncertainty. What's keeping deal activity active?
A. James Woods
Despite a complex operating environment, MedTech deal activity remains strong and is tracking at a pace similar to last year. Companies continue to pursue tuck-in acquisitions, expand into adjacent markets, and invest in new business models that can support long-term growth.
Organizations remain focused on strengthening portfolios, enhancing competitiveness, and positioning themselves for future opportunities, even amid ongoing market uncertainty.
Where are companies placing their bets?
Q. Glenn Hunzinger
What types of assets and opportunities are attracting the most investment?
A. James Woods
Companies are prioritizing assets that can accelerate organic growth and strengthen portfolio performance. Areas attracting significant interest include cardiovascular technologies, robotics, connected care, and ecosystem-enabling solutions.
These sectors offer strong innovation pipelines and opportunities to create sustainable competitive advantages while addressing broader challenges across the healthcare ecosystem.
How are companies approaching portfolio transformation?
Q. Glenn Hunzinger
Portfolio management continues to be a major focus. How are leaders thinking about capital allocation?
A. James Woods
Organizations are taking a more disciplined approach to portfolio management. Many are evaluating which businesses support future growth strategies and which may be better positioned under different ownership.
Companies are increasingly divesting non-core assets while investing more aggressively in higher-growth opportunities that can improve organic growth and drive shareholder returns.
Why is connected care becoming a strategic priority?
Q. Glenn Hunzinger
Connected care continues to receive significant attention across the industry. What is driving that trend?
A. James Woods
Healthcare systems are facing growing pressures related to cost, workforce shortages, and an aging population. MedTech companies are uniquely positioned to help address these challenges by connecting data, devices, and care settings.
Connected care solutions can improve efficiency, enhance patient outcomes, and create new opportunities for growth beyond traditional device offerings. They also position MedTech companies to play a larger role across the healthcare continuum.
What role is private equity playing in the market?
Q. Glenn Hunzinger
Private equity remains active in MedTech. How are financial sponsors approaching the market today?
A. James Woods
Private equity continues to see attractive opportunities across the sector, particularly given current valuation levels. Sponsors are pursuing take-private transactions and carve-outs where they believe operational improvements, portfolio reshaping, and strategic repositioning can unlock additional value.
Private ownership can also provide companies with greater flexibility to transform business models and pursue growth strategies outside the pressures of the public markets.
What gives you confidence in the market outlook?
Q. Glenn Hunzinger
Despite ongoing uncertainty, what supports a positive outlook for the remainder of the year?
A. James Woods
Companies remain committed to investing in innovation and growth. Strategic buyers and financial sponsors continue to pursue opportunities that strengthen portfolios, improve competitive positioning, and support long-term value creation.
While market conditions remain challenging, the level of deal activity demonstrates continued confidence in the sector's growth potential and the opportunities created by ongoing portfolio transformation.
What should dealmakers focus on over the next six to twelve months?
Q. Glenn Hunzinger
As organizations evaluate future growth opportunities, what should leaders prioritize?
A. James Woods
Leaders should remain focused on disciplined portfolio management and growth-oriented capital allocation. The most successful organizations will proactively evaluate their portfolios, invest behind differentiated growth assets, and use M&A strategically to strengthen competitive advantages.
A balanced approach to organic and inorganic growth, combined with a clear focus on long-term value creation, will be critical to driving shareholder returns in the years ahead.
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