IVD M&A has been reshaping the competitive landscape at pace. Labcorp agreed to acquire oncology and clinical-testing assets from BioReference Health in March 2025. Bio-Rad accepted a binding offer to acquire Stilla Technologies for digital PCR in February 2025. bioMérieux acquired SpinChip for microfluidics in 2024. Eurofins acquired SYNLAB's clinical diagnostics operations in Spain in April 2025. Fremman Capital acquired a majority stake in DIESSE Diagnostica in January 2025. Incumbents are systematically acquiring niche innovators in faster-growing segments — digital PCR, digital pathology, microfluidics, AI analytics — to preserve relevance across diversifying test settings.
This report provides significant competitor information, analysis, and insight critical to the development and implementation of effective marketing and R&D programs.
Topics Covered
• IVD M&A Overview 2023-2026 — Deal Volume, Value, and Trends
• Major Transactions — Detailed Analysis of Deals Over $100 Million
• Strategic Rationale — Technology Access, Segment Expansion, and Market Consolidation
• Most Active Acquirers and Their Strategic Agendas
• Divestiture Activity — Portfolio Rationalization and Non-Core Asset Sales
• Valuation Analysis — EV/Revenue and EV/EBITDA Multiples by Segment and Deal Type
• Venture Capital in IVD — Digital Diagnostics, Liquid Biopsy, and AI Platform Investment
• M&A Pipeline — Most Likely Transactions 2026-2027
• Competitive Implications — How Recent M&A Has Reshaped IVD Market Positions
Table of Contents
1. Executive Summary
2. Market Overview
3. IVD M&A Overview 2023-2026
4. Major Transactions
5. Strategic Rationale
6. Most Active Acquirers and Their Strategic Agendas
7. Divestiture Activity
8. Valuation Analysis
9. Venture Capital in IVD
10. M&A Pipeline
11. Competitive Implications
12. Competitive Landscape
13. Regional Market Analysis
14. Strategic Conclusions and Recommendations
15. Appendix
List of Tables
Table 1. IVD M&A Transactions — Complete List 2023-2026
Table 2. IVD M&A Transactions Over $100 Million — Detailed Analysis 2023-2026
Table 3. IVD M&A Valuation Multiples by Segment 2020-2025
Table 4. Most Active IVD Acquirers — Transaction Volume and Value 2020-2025
Table 5. IVD Divestiture Activity — Portfolio Rationalization 2023-2025
Table 6. Venture Capital Investment in IVD — Key Transactions 2023-2025
Table 7. IVD Startup Ecosystem — Likely Acquisition Targets 2026-2027
Table 8. M&A Pipeline — Most Likely Transactions 2026-2027
Table 9. Strategic Gap Analysis by Leading Supplier and Segment
Table 10. Key Risks and Mitigation Strategies
Companies Profiled
Abbott Laboratories
Becton Dickinson
Bio-Rad Laboratories
bioMérieux
DiaSorin
Hologic
Qiagen
Roche Diagnostics
Siemens Healthineers
Sysmex
