Nelson Advisors: European HealthTech M&A Hotspots for 2027. A caveat before we start. Forecasting M&A a year out is partly about spotting where the money already is and partly about guessing where the next wave of consolidation breaks. We have tried to anchor each pick in transactions that have actually closed or been announced in 2025/2026 and to be candid where the thesis depends on things that haven't yet happened. Figures quoted from advisers and data providers are their