Medtech M&A Market: Data 2025 – Outlook 2026
As specialized M&A advisors in the Healthcare sector, we would like to share with you a brief overview of the latest market data related to DACH (Germany, Austria, Switzerland) and an outlook for 2026. The Medtech & Digital Health industry continues to show consistently high transaction activity whilst deal valuations are trending upward again.
At this point, we would like to highlight some major observations:
- Constant deal activity with approx. 160 deals per year
- Most major deals inbound (e.g., Nexus to TA Associates, Biotronik VI to Teleflex, KIND to Demand), one major intra-DACH deal (KeriMedical to Medartis) and one big deal outbound (Genoox to Qiagen)
- Healthcare IT/digital health is a sought-after segment, as underscored by the transactions involving Nexus, Medavis, Frey, etc.
Our conclusions in a nutshell:
- EBITDA multiples in range of 6 to 13, with upward trend
- Range of sales multiples within range of 1.2 – 2.9 (not shown above)
- High variance of multiples underlines the importance of the equity story
Upshot:
The M&A market in Medtech & Digital Health remains fundamentally dynamic, but it is not immune to geo-global political and economic challenges. The recent increase in valuation levels may provide tailwind to potential sellers.
Do you have any questions? How can we support you?
Our Healthcare Practice Team – consisting of Dr. Christopher Klein, Magnus Höfer, and Christoph Osterbrink – will be happy to support you in the following activities:
- Acquisitions (entire companies, product lines, production sites, buy-and-build)
- Divestitures (also succession planning, spin-offs, carve-outs)
- Finance raisings (equity and/or debt)
