Medtech dealmaking has roared back in 2026, with deal value on pace to hit $80–100 billion. But underneath the headline growth, valuations have split sharply by deal size. Here's what's driving both ends of the market.

Middle Branch Partners' Larry Barr and Chuck Weikel review MedTech M&A at mid-2026: deal volume holds steady even as transactions shrink in size, valuations climb on quality over scale, and cross-border deals face tariff-driven friction while domestic activity stays smooth. Lending is available but more selectively deployed. On AI, both find rare agreement: real technology, not yet a real M&A driver.