Medical Technology M&A Activity Report Q3 2025

This report provides an overview of the Medical Technology mergers and acquisitions (M&A) activity for the third quarter of 2025. It documents that there were 102 announced transactions, which is flat compared to the previous quarter but significantly lower than the 165 deals recorded in Q3 2024. The report outlines that while transaction volumes are subdued, deal values remain elevated, indicating that investors are willing to pay premiums for specialized businesses. The report also discusses the impact of recent legislative changes, including permanent 100% bonus depreciation, which is expected to enhance cash flow and capital investment in the sector. Additionally, it notes that interest rate reductions by the Federal Reserve have eased financing pressures, creating a more favorable environment for M&A activity. The report highlights that strategic buyers were the primary drivers of transactions, accounting for 58% of total deal volume, with the Therapeutic Device segment leading in activity. Overall, the report presents a cautiously optimistic outlook for the Medical Technology sector's growth and M&A landscape.