Core Insights - The medtech industry has achieved its seventh consecutive year of top-line growth, reaching a valuation of $584 billion as of June 30, with projected revenue growth of 6% to 7% by the end of 2025 [1][2] Investment Trends - Medtech venture capital (VC) investments increased by 16% in the first half of the year compared to the same period in 2024, with average financing rounds at $36 million, marking a 122% increase over 2024 [2] - Notable investments include Kardium, which secured C$340 million ($250 million), and CMR Surgical, which attracted around $200 million in equity and debt capital [3] M&A Activity - Overall M&A spending for 2025 reached $38.8 billion, with an average deal size of $497 million, reflecting an 11% and 72% increase from 2024 and the previous decade, respectively [5] - Major deals included Stryker's $4.9 billion acquisition of Inari Medical and Johnson & Johnson's $1.7 billion acquisition of V-Wave [5][6] - The M&A landscape is characterized by a focus on "fewer but more meaningful opportunities," indicating a trend towards more selective deal-making [6] IPO Landscape - There have been around five medtech IPOs in the surveyed period, including Beta Bionics and Kestra, both raising $204 million [7] - There is an ongoing appetite for medtech companies to pursue public offerings despite the limited number of IPOs [7]