MedTech M&A didn't slow down for the weekend. Haemonetics moved on a vascular closure company out of Ireland. Laborie picked up a device that stops severe postpartum bleeding. Medtronic's diabetes business is heading toward an IPO. And Washington is back to making noise about tariffs on medical devices, which is enough to make any CFO reach for the antacids. Let's get into Issue #2.
Top Stories
Story 01
Haemonetics Corporation has acquired Galway-based Vivasure Medical in a deal valued at up to €185 million, €100 million upfront plus up to €85 million in milestone payments. Vivasure makes the PerQseal Elite, a fully bioabsorbable vascular closure system designed to seal large-bore arterial access sites after heart procedures. The device has CE Mark approval and a PMA application pending at the FDA. For Haemonetics, it's a direct play on the growing volume of transcatheter heart procedures that require reliable arterial closure.
Why This Matters
Acquiring a company before FDA approval is a high-risk, high-leverage move. Haemonetics is betting that the PerQseal Elite's CE Mark and PMA pipeline make the milestone structure worth it. For builders in catheter-based closure and hemostasis: transcatheter procedure volume is your growth engine, and strategic buyers are watching the PMA calendar closely.
M&A
€185M
Story 02
On January 28, Laborie Medical Technologies completed its acquisition of the JADA System and the team behind it from Organon, in a deal worth up to $465 million ($440M at closing, up to $25M in milestones). JADA is an FDA-cleared intrauterine device that uses low-level vacuum suction to stop abnormal uterine bleeding after delivery, one of the leading causes of maternal death worldwide. The deal brings more than 90 employees into Laborie and marks a deliberate push into obstetrics for a company best known for urology and GI diagnostics. Since closing, Laborie has begun integrating JADA's commercial team and expanding availability in U.S. hospitals.
M&A
FDA-Cleared
Story 03
Medtronic has filed for an IPO of MiniMed, its diabetes division that makes insulin delivery systems and continuous glucose monitoring sensors. The separation is part of Medtronic's portfolio simplification strategy, shedding slower-growth, capital-intensive business units to focus on higher-margin segments like cardiac ablation and surgical robotics. MiniMed plans to file for FDA approval of its next-generation patch pump, MiniMed Fit, by fall 2026.
IPO
Diabetes Tech
Story 04
The Treasury Secretary indicated this week that tariff rates previously struck down by the Supreme Court could return within five months, following ongoing Section 232 trade investigations. For the MedTech industry, which manufactures significant portions of its products offshore, particularly in Malaysia, Ireland, Costa Rica, and Mexico, tariff exposure is a material risk. Industry groups have been lobbying hard for exemptions, citing patient access and supply chain disruption concerns.
Tariffs
Trade Policy
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Market Movers
| Ticker | Company | Price | Wk Change |
|---|
| ISRG | Intuitive Surgical | $516.20 | ▼ 0.6% |
| SYK | Stryker | $356.10 | ▲ 0.4% |
| BDX | BD (Becton Dickinson) | $236.40 | ▼ 0.6% |
| JNJ | Johnson & Johnson | $155.90 | ▼ 0.8% |
| ABT ★ | Abbott | $141.80 | ▲ 2.6% |
| ZBH | Zimmer Biomet | $109.20 | ▼ 1.1% |
| BSX | Boston Scientific | $104.50 | ▼ 3.1% |
| GEHC | GE HealthCare | $92.40 | ▼ 0.5% |
| MDT | Medtronic | $87.20 | ▼ 1.4% |
| EW | Edwards Lifesciences | $69.40 | ▲ 1.6% |
★ Top Mover of the week (biggest % change). Sorted by stock price, highest to lowest. Data shown for illustrative purposes. Prices reflect approximate close, week of March 5, 2026.
Deep Dive
PFA Is Rewriting the Rules of Cardiac Ablation, And It's Moving Fast
Medtronic's 80% PFA growth last quarter wasn't a one-time quarter. It's the clearest signal yet that pulsed field ablation, a technique that uses rapid electrical pulses to destroy the heart tissue causing atrial fibrillation, is replacing the older method of burning tissue with heat. The shift has major implications for how hospitals buy equipment, how cardiologists are trained, and which device companies win the next decade.
- Published clinical trial data shows PFA achieves greater precision and fewer serious complications than thermal ablation. Traditional radiofrequency or cryoablation can damage adjacent tissue, including the esophagus, which sits directly behind the heart. PFA's electrical pulses are designed to target cardiac cells while leaving surrounding tissue unharmed. In published clinical trials including INSPECT and PULSE, PFA demonstrated fewer serious complications and faster procedure times compared to thermal methods. (Source: NEJM; trial publications 2023–2025)
- Three major players, three different strategies. Medtronic leads with its Farapulse system (acquired for $1.1B in 2021). Johnson & Johnson's Varipulse is cleared and growing. Boston Scientific is catching up with its own PFA platform. All three are competing for the same limited shelf space in electrophysiology labs worldwide.
- The installed base effect is real, and it's a moat. Hospitals that commit to one PFA platform invest in training, software integration, and capital equipment. Switching costs are high. The company that captures the most electrophysiology labs in 2026 will hold that position for years.
Bottom line: PFA isn't hype. The clinical data is solid, the adoption is accelerating, and the market is large enough, an estimated 200,000+ AF ablation procedures per year in the U.S. alone
(Source: Heart Rhythm Society), that the top players will all have room to grow. Watch Medtronic's Farapulse volume numbers each quarter as the leading indicator.
Industry Shifts
Shift 01
Advita Ortho has formed after orthopedic implant maker Exactech sold its assets in bankruptcy. The new company carries forward Exactech's joint replacement product lines, hip, knee, and ankle systems, under new ownership and leadership. It's a notable sign that even distressed MedTech assets retain commercial value when there's a clinical user base and an installed instrument set behind them.
Restructuring
Orthopedics
Shift 02
The ongoing Section 232 national security investigation into medical device imports has the industry watching Washington closely. The investigation, which could result in tariffs on products manufactured outside the U.S., has device makers re-evaluating their supply chain concentration in Southeast Asia and Latin America. AdvaMed and other industry groups are pushing for a medical device carve-out, arguing tariffs would raise costs for hospitals and patients without improving national security.
Trade Policy
Supply Chain
Fun Fact & Trivia
Fun Fact
A single da Vinci surgical robot costs between $1.5 million and $2.5 million to purchase, and then up to $170,000 per year in service contracts, plus $700–$3,500 per procedure in disposable instrument costs. Despite that price tag, more than 8,600 systems are now installed in hospitals worldwide. Surgeons who train on da Vinci often refuse to go back to open surgery.
MedTech Trivia
What year did the FDA clear the first MRI scanner for clinical use in the United States?
👇 Scroll to the footer for the answer
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