The biggest medtech deals of the last year offer a 2025 Medtech Big 100 preview

Here’s a look at the mergers and acquisitions that will help shape our 2025 Medtech Big 100 ranking of the world’s largest medical device companies.

Since we published our 2023 edition of the Medtech Big 100, several medical device companies on the list have struck billion-dollar deals, including Johnson & Johnson’s $13.1 billion purchase of Shockwave Medical, BD’s planned acquisition of Edwards Lifesciences’ critical care business for $4.2 billion, and Boston Scientific’s pending acquisition of Axonics for $3.7 billion.

These deals are not reflected in our 2024 Medtech Big 100 ranking, but they — and those listed below — are expected to be included in the companies’ next fiscal reports for our 2025 Medtech Big 100.

ANALYSIS: M&A drives 2024 Medtech Big 100 growth in sales, R&D spending and total employment

Here are the largest mergers and acquisitions we have covered since September 2023:

1. Johnson & Johnson acquired Shockwave Medical for $13.1 billion (Read more: Can J&J’s Shockwave crack the code for FDA approval of its Reducer implant?)
2. BD plans to acquire Edwards Lifesciences’ Critical Care business for $4.2 billion
3. Baxter plans to sell its kidney care business for $3.8 billion
4. Boston Scientific plans to acquire Axonics for $3.7 billion
5. Johnson & Johnson MedTech plans to acquire V-Wave for $1.7 billion (Read more: Why V-Wave’s heart failure tech is worth $1.7B to Johnson & Johnson)
6. Owens & Minor plans to acquire Rotech Healthcare for $1.36 billion
7. Edwards plans to acquire JenaValve and Endotronix for $1.2 billion
8. Boston Scientific plans to acquire Silk Road Medical for $1.16 billion
9. Carl Zeiss acquired Dutch Ophthalmic Research Center for $1.07 billion
10. Boston Scientific acquired Relievant Medsystems for $850 million
11. Enovis acquired LimaCorporate for $840 million
12. Steris sold its dental segment for $787.5 million
13. Surmodics plans to be acquired by private equity firm GTCR for $627 million
14. Inari Medical acquired LimFlow for $415 million (Read more: How LimFlow’s foot-saving system prevents amputations in patients with no other options)
15. Johnson & Johnson MedTech acquired Laminar for $400 million
16. Alcon acquired Belkin Vision for $385 million
17. ZimVie sold Spine and EBI business (now called Highridge Medical) for $375 million
18. Getinge acquired Healthmark for $320 million
19. Hologic acquired Endomagnetics for $310 million
20. Edwards acquired Innovalve for $300 million
21. Integra LifeSciences acquired Johnson & Johnson’s Acclarent for $275 million
22. Haemonetics acquired OpSens for $255 million
23. Smith+Nephew acquired CartiHeal for $180 million
24. Integer acquired Pulse Technologies for $140 million
25. Haemonetics acquired Attune Medical for $106 million
26. Merit Medical acquired EndoGastric Solutions for $105 million