The New MedTech Battleground

Is the future of MedTech innovation shifting away from devices—and toward manufacturing? In this episode of Med Tech Gurus, we sit down with Mark Freitas, Managing Director and Life Sciences Leader at Alvarez & Marsal, to explore a major shift happening in MedTech: capital is moving away from traditional device acquisitions and toward advanced manufacturing platforms and CDMOs. As device complexity increases and technologies converge across hardware, software, and biologics, the ability to manufacture at scale is becoming a strategic differentiator—not just an operational function. Mark breaks down why 2026 is shaping up to be a pivotal year for MedTech M&A, with a surge in deal activity driven by private equity exits, OEM carve-outs, and platform roll-ups. He explains why scarcity of specialized capabilities—not revenue—is now driving valuation, and how regulatory infrastructure has emerged as a hidden but powerful competitive moat. We also explore how founders and operators should think about CDMO partnerships, when to own manufacturing versus outsource it, and why many companies get the timing wrong. For MedTech leaders, investors, and innovators, this episode delivers a clear message: the winners in the next wave of MedTech won't just build great products—they'll build (or partner for) the capabilities to make them.