Medical technology companies in Europe are facing the daunting task of managing technological transformation under heavy regulation in order to maintain their position along the value chain. Important players are already recognising the need for cooperation to counteract the growing complexity of the market. Through M&A transactions, companies gain access to competencies, resources and customers. In this way, transformation can be accelerated, and the risk of being left behind can be reduced. M&A activities show that many successful companies are following precisely this path.