European MedTech conglomerates, such as Philips, Baxter, Sanofi, and Fresenius, are under pressure from capital markets to optimise their Return on Invested Capital (ROIC), streamline operating structures and concentrate R&D expenditure on core blockbuster franchises. Consequently, non-core divisions, particularly specialised diagnostic units, standalone software solutions and regional hardware platforms, are being earmarked for divestiture.