This report examines the ten most defensible moats in the sector, ranked by durability and replicability barriers, with particular emphasis on their role in M&A valuation and strategic positioning.

European HealthTech this week is being shaped by early implementation steps around the EU AI Act / MDR–IVDR stack, fresh EU‑level funding windows, and several notable AI‑driven digital health rounds in Switzerland and Spain. Deal flow is clustering around preventive AI, automation of clinical workflows and AMR diagnostics, with MedTech regulatory tightening continuing to drive portfolio and due‑diligence behaviour into 2026.

On January 12, 2026, OpenAI confirmed the acquisition of Torch Health in an all-equity transaction valued between $60 Million and $100 Million. This strategic consolidation represents more than a mere talent acquisition; it signals the integration of critical infrastructure designed to solve the "context problem" in medical artificial intelligence. For nearly a decade, the promise of AI in healthcare has been stymied by the fragmentation of patient data, longitudinal records

The European MedTech and wellness landscape in 2026 is defined by a profound convergence of clinical rigor, environmental mandate, and digital intelligence. The industry has moved beyond the "wild west" phase of early biohacking and entered a period of definitive professionalisation, catalysed by the full enforcement of the European Medical Device Regulation (MDR) and the emergence of the EU AI Act. As health systems across the continent grapple with aging populations and a