Strategic Roadmap for European HealthTech and MedTech Shareholder Value in 2026

Nelson Advisors
1 hour ago
16 min read

Strategic Roadmap for European HealthTech and MedTech Shareholder Value in 2026

The European healthcare technology and medical technology (MedTech) landscape entering 2026 stands at a profound inflection point, characterised by a transition from the speculative fragmentation of the early 2020s to a disciplined era of "Industrial Maturity". The macroeconomic environment has shifted decisively from the "growth at all costs" paradigm that defined the Zero Interest Rate Policy (ZIRP) era to a rigorous focus on "profitable efficiency," unit economics and regulatory fortitude. This is not merely a cyclical adjustment; it is a structural transformation of the asset class.

For founders and boards operating in this space, 2026 is not simply another fiscal year; it is a "clearing event" driven by Regulatory Darwinism. The simultaneous full enforcement of the EU Medical Device Regulation (MDR), the mandatory utilisation of EUDAMED, the In Vitro Diagnostic Regulation (IVDR) and the implementation of the EU AI Act has created a high-barrier environment. These regulations are no longer administrative hurdles but the primary determinants of asset value. In this ecosystem, regulatory compliance has mutated into a financial asset, a "compliance moat" that protects incumbents and validated scale-ups while effectively barring undercapitalised entrants.

Furthermore, the capital markets in 2026 are defined by the "Dry Powder Paradox." While private equity and venture capital funds hold nearly $2.5 Trillion in unallocated capital, deployment is highly selective, favouring platforms that demonstrate industrial logic over theoretical potential. The "Series B+ Gap" has widened, creating a bifurcation where companies either achieve "industrial scale" or face distressed acquisition. The investment logic has shifted from "venture subsidies" to "industrial logic," where value is created through operational leverage, vertical integration, and the arbitrage of fragmented markets.

This report provides a strategic blueprint for European founders to maximise shareholder value in this transformed landscape. It synthesises regulatory deadlines, capital market trends, and operational shifts into ten critical imperatives. It is written for the sophisticated operator who understands that in 2026, the margin for error has vanished, and the opportunity for category dominance has never been higher for those who can execute with precision.

1. Fortify the "Compliance Moat": Leveraging Regulatory Darwinism as a Valuation Driver

In the prevailing market conditions of 2026, regulatory status has ascended to become the single most critical metric for valuation, surpassing traditional SaaS metrics like Annual Recurring Revenue (ARR) growth in early-stage assessments. The market is undergoing a phenomenon best described as "Regulatory Darwinism," where the exponentially high cost and complexity of compliance act as a filter, ruthlessly eliminating "science projects" and rewarding "industrial assets" that have successfully navigated the labyrinth. Founders must pivot their strategic mindset from viewing regulation as a cost centre, a tax on innovation, to treating it as a defensive moat that justifies significant valuation premiums.

The 2026 Regulatory Convergence: A Perfect Storm

Three major regulatory timelines converge in 2026, creating a bottleneck that will strangle unprepared ventures while propelling compliant firms to leadership positions. This convergence creates a binary outcome for companies: those with certificates are investable assets; those without are distressed liabilities.

Critical Regulatory Deadlines and Milestones in 2026

Regulation	Key Deadline	Strategic Implication & Founder Action
EU MDR (Medical Device Regulation)	May 26, 2026	Deadline for Class III custom-made devices; marks the effective end of the transition period for many legacy devices. This creates a supply crunch and an M&A opportunity for compliant firms.
EUDAMED (European Databank on Medical Devices)	May 28, 2026	Mandatory use of Actor, UDI/Device, Certificate, and Market Surveillance modules. Transparency becomes absolute; competitors' failures become visible.
EU AI Act	August 2, 2026	Enforcement begins for High-Risk AI systems (Annex III), including many medical AI tools. Non-compliance risks fines up to 7% of global turnover and market withdrawal.
NIS2 Directive	Throughout 2026	Full enforcement of cybersecurity requirements for "essential entities," extending liability to the C-suite.

Navigating the Notified Body Bottleneck

The "bottleneck" predicted for 2026–2027 regarding Notified Body (NB) capacity is now an operational reality. NBs are facing a massive surge in demand as thousands of legacy devices, previously marketed under the Medical Device Directive (MDD) or In Vitro Diagnostic Directive (IVDD), rush to transition to the new Regulations before the final cutoffs. The removal of the "sell-off" provision means that non-compliant inventory cannot even be liquidated, turning assets into write-offs overnight.

For founders, the strategic imperative is twofold. First, they must have secured Notified Body capacity well in advance. For those currently in the review queue, the focus must be on the impeccable quality of technical documentation. The "stop-the-clock" mechanisms utilized by NBs during reviews, where the timeline pauses while the manufacturer addresses deficiencies—are becoming lethal for cash runways in a tight funding environment. Ensuring first-pass acceptance is not just a quality goal; it is a treasury survival strategy.

Second, the valuation impact of this bottleneck is profound. Companies possessing a valid MDR/IVDR certificate in 2026 command a premium because they offer acquirers—particularly US strategics looking to enter Europe, immediate market access without the 18–24 month regulatory risk profile. The certificate itself is a transferable asset that enhances the enterprise value significantly above the sum of the technology and talent.

EUDAMED as a Transparency Engine and Competitive Weapon

From May 28, 2026, the European Databank on Medical Devices (EUDAMED) becomes mandatory for critical modules, including Actor Registration, UDI/Device Registration, and Notified Body Certificates. This shifts data transparency from a voluntary best practice to an obligatory standard.

For the astute founder, EUDAMED is more than a reporting requirement; it is a source of competitive intelligence. The public accessibility of the database allows companies to verify the certification status of competitors. Founders should actively monitor EUDAMED to identify competitors who have failed to meet the deadline or whose certificates have lapsed. These distressed competitors represent prime acquisition targets for "buy-and-build" strategies, allowing stronger firms to acquire customer bases and IP from non-compliant entities at distressed multiples. Conversely, ensuring one's own data is pristine in EUDAMED is essential for maintaining trust with hospital procurement departments, which will increasingly use the database to vet suppliers.

The AI Act Binary Filter

The EU AI Act, with key obligations for high-risk systems effective August 2, 2026, introduces a binary filter for investment in HealthTech. Medical AI tools classified as high-risk (which encompasses most diagnostic and therapeutic AI) must demonstrate robust data governance, human oversight, and transparency.

The investment consequence is immediate: Investors in 2026 are rigorously avoiding "Black Box" AI models. Founders must engineer "Glass Box" interpretability into their algorithms to satisfy Article 13 (Transparency) and Article 14 (Human Oversight) of the AI Act. Failure to do so renders the asset un-investable to institutional capital, regardless of the algorithm's performance metrics. The cost of retrofitting explainability into a black-box model is often prohibitive; thus, "privacy by design" and "compliance by design" must be evidenced in the technical due diligence process.

2. Operationalise "Profitable Efficiency": The Shift to EBITDA and Industrial Logic

The financial thesis for 2026 has definitively moved away from revenue growth at the expense of margins. The "Industrialisation" of the sector means that the cost of capital remains elevated compared to the pre-2022 era, and investors are prioritizing "profitable efficiency" over speculative scale.

The End of the "Growth at All Costs" Era

In the ZIRP era (2019–2021), valuations were often detached from unit economics, driven by user acquisition metrics and top-line expansion. In 2026, the metric of choice is EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) or a credible, near-term path to it. The market has fatigued on "science projects", companies with promising technology but broken business models.

The Evolution of the "Rule of 40"

Investors are applying a stricter, more nuanced version of the "Rule of 40" (Growth Rate + Profit Margin). In previous cycles, a company could satisfy this rule with 50% growth and -10% margins. For 2026, the weight is shifting heavily toward the profit component. High-growth, high-burn companies are seeing their multiples compressed to 3x–4x revenue, whereas profitable, moderate-growth platforms command 10x–14x EBITDA.This shift necessitates a rigorous review of the P&L, cutting non-essential R&D and focusing on high-margin product lines.

Arbitraging the Valuation Gap in Services

A specific opportunity exists for founders in "analog" healthcare services (veterinary, dental, ophthalmology) to structure their companies to take advantage of the valuation arbitrage driving Private Equity (PE) activity.

Buy-and-Build Strategy: PE firms are aggressively acquiring smaller, fragmented assets at lower entry multiples (6x–8x EBITDA) and integrating them into larger pan-European platforms. These consolidated platforms, once scaled, trade at significantly higher exit multiples (12x–15x EBITDA).
Actionable Insight: If a founder cannot achieve platform scale independently, the optimal shareholder value play in 2026 may be to position the company as a premium "bolt-on" for a larger PE-backed platform. This requires standardising back-office operations and financial reporting to ensure seamless integration post-acquisition, thereby making the target more attractive and commanding a higher premium.

Revenue Cycle Management (RCM) as a Cash Flow Engine

There is a massive capital rotation toward Revenue Cycle Management (RCM) and administrative automation tools. In an environment of strained public health budgets and hospital deficits, technologies that offer immediate ROI to healthcare providers by improving billing efficiency and reducing denials are highly prized.

Strategic Pivot: Founders of digital health platforms should pivot their value proposition to emphasize financial ROI for their customers (e.g., "Our tool saves the hospital €X per patient" or "Reduces administrative overhead by Y%") rather than purely clinical outcomes. Tools that directly improve the P&L of the customer are recession-resilient and command higher valuations because they are "must-haves" rather than "nice-to-haves".

3. Master the Data "Plumbing": Capitalizing on the European Health Data Space (EHDS)

While consumer-facing digital health apps have lost favor due to high customer acquisition costs and low retention, "smart capital" in 2026 is flowing into the "unsexy" backend infrastructure of healthcare, the plumbing that enables interoperability and data fluidity. The operationalisation of the European Health Data Space (EHDS) is the structural driver of this shift, creating a unified market for health data.

EHDS Implementation Timeline and Strategic alignment

The EHDS Regulation, having entered into force, is in a critical transition phase. By 2026, the focus is on the preparatory infrastructure for mandatory data sharing. The regulation creates two distinct value streams: Primary Use (patient care) and Secondary Use (research, innovation, and policy). Founders must align their technology to support the HealthData@EU infrastructure, ensuring they are not locked out of the ecosystem.

Table 2: EHDS Implementation Phase and Founder Actions

Timeline	Milestone	Strategic Implication for Founders
2026	Preparation for General Application	Invest heavily in FHIR and OMOP standards. Ensure data architecture is machine-readable and interoperable by design.
March 2027	Deadline for Commission Implementing Acts	Align product roadmap with emerging technical specifications for European Electronic Health Record Exchange Formats (EEHRxF).
2028-2030	Full Obligation for Secondary Use Access	Position proprietary datasets as "curated assets" for pharmaceutical and research buyers, leveraging the mandated access pathways.

Interoperability as a Product Requirement

In 2026, interoperability is not a feature; it is a market-entry requirement. The era of the "walled garden" in health tech is over.

The "Translation Layer": Startups that serve as middleware, translating legacy EMR data into modern standards like FHIR or openEHR, are high-value targets. These "plumbing" companies facilitate the connection between fragmented legacy systems and modern applications, a critical need for the realisation of the EHDS.
Data Sovereignty and Opt-Outs: With the EHDS facilitating cross-border data exchange, founders must ensure their systems respect the complex "opt-out" mechanisms and privacy safeguards mandated by the regulation. Platforms that can automate the management of patient consent and data rights across different jurisdictions will be essential infrastructure.
Monetization of Curated Data: The EHDS effectively creates a new asset class: Curated Clinical Data. Companies that hold proprietary, high-quality, longitudinal datasets (e.g., patient registries, real-world evidence banks) are becoming prime acquisition targets for pharmaceutical companies facing patent cliffs and needing real-world data to support R&D and market access.

4. Secure Reimbursement via National Fast-Tracks: Moving from Pilot to Permanent

A critical failure mode for European healthtechs in the past decade has been the "pilot trap", an endless cycle of unpaid or low-paid pilots with hospitals that never convert to statutory reimbursement. In 2026, maximising shareholder value requires bypassing the pilot trap by securing permanent reimbursement through national fast-track programs like Germany's DiGA and France's PECAN. These pathways provide the recurring revenue streams that investors demand.

Germany: The Mature DiGA Market

Germany's Digital Health Application (DiGA) pathway remains the gold standard for digital therapeutics reimbursement in Europe, but it has matured significantly by 2026.

2026 Status: The DiGA Fast-Track (managed by BfArM) is fully operational for Class I and IIa devices.However, the bar for demonstrating "positive healthcare effects" (pVE) has risen. The initial "easy wins" are gone; regulators now scrutinise data rigorously.
Strategy: Founders must move beyond the provisional listing (which allows 12 months of reimbursement) to permanent listing. This requires robust Randomized Controlled Trials (RCTs) or high-quality Real-World Evidence (RWE) that demonstrates a statistically significant benefit. Failure to convert to permanent listing results in de-listing, which can lead to a collapse in shareholder value and a loss of market credibility.

France: The PECAN Opportunity

France has introduced the PECAN (Prise en Charge Anticipated Numérique) scheme, offering a one-year "early reimbursement" bridge for digital therapeutics and telemonitoring, modeled to accelerate access compared to the traditional LPPR route.

Advantage: Unlike the strict initial requirements of DiGA, PECAN allows reimbursement before the completion of final clinical studies, provided there is "initial clinical evidence" and a presumption of innovation.
Execution: Founders should utilise the PECAN pathway to generate revenue while simultaneously gathering the conclusive data required for the permanent LPPR (List of Reimbursable Products and Services) listing. This dual-track approach reduces cash burn, provides non-dilutive funding, and validates commercial viability to investors early in the lifecycle.

UK and Nordics: System-Level Procurement

UK (NHS): The NHS in 2026 is focused on a massive "Analogue to Digital" transformation. The 2026 NHS Planning Framework incentivises technologies that release clinical capacity, such as AI scribes and primary care triage tools Founders should target "Framework Agreements" which simplify procurement for NHS Trusts.
Nordics: Finland is piloting a national reimbursement model for digital therapies modelled on DiGA/PECAN, launching in late 2025/2026. Founders should view the Nordics not just as a market, but as a premier testbed for generating high-quality RWE due to the region's longitudinal patient registries and unique personal identification numbers, which allow for long-term outcome tracking.

5. Implement "Vertical AI" with Governance: Beyond the Hype

The investment thesis for AI in 2026 has matured beyond the "hype cycle" of generalist Large Language Models (LLMs) to Vertical AO models trained on proprietary, domain-specific data sets that solve specific, high-value clinical or operational problems.

The Shift to "Clinical Co-Pilots" and Ambient Intelligence

Investors are no longer funding "AI for AI's sake" or generic chatbots. They are funding Ambient Clinical Intelligence (ACI) and workflow automation tools that reduce administrative burden without disrupting the clinician-patient relationship.

Use Case: AI notetaking tools that listen to consultations and generate real-time clinical summaries are being backed by health systems like the NHS to free up clinician time, addressing the workforce crisis.
Value Proposition: The value lies in the "unsexy" backend: coding automation, discharge planning, and patient flow optimization. These applications offer measurable efficiency gains (e.g., reducing appointment length by 8% or increasing patient throughput), which translates directly to the provider's bottom line.

High-Risk AI Compliance as a Differentiator

As noted in Section 1, the AI Act's enforcement in August 2026 acts as a binary filter.

Governance as a Product: Founders must implement a Quality Management System (QMS) that specifically addresses AI risks, aligning with ISO 42001 (Artificial Intelligence Management System). This includes "post-market monitoring plans" specific to AI performance drift, ensuring the model remains accurate over time.
Data Governance: High-quality, representative training data is essential not just for performance but for compliance with the AI Act's bias mitigation requirements. Founders must demonstrate the provenance and diversity of their training data to pass regulatory audits.

6. Engineer for Cyber-Resilience: NIS2 as a Clinical Priority

In 2026, cybersecurity is no longer merely an IT concern; it is a board-level liability and a clinical safety imperative. The NIS2 Directive is fully enforceable, significantly expanding the scope of "essential entities" to include medical device manufacturers, digital health providers, and laboratories.

The Liability Shift to the C-Suite

NIS2 introduces a paradigm shift by assigning personal liability to management bodies. Executives can be held personally accountable, including fines and suspension from office, for failure to implement adequate cybersecurity risk management measures.

Governance Implication: Founders must establish a dedicated cybersecurity governance committee with direct reporting to the Board of Directors. Cybersecurity is now a standing item on the board agenda.
Incident Reporting: The strict reporting timelines (24-hour early warning, 72-hour full notification) require automated incident response systems. Manual processes will fail to meet these statutory deadlines, exposing the company to fines of up to €10 Million or 2% of global turnover.

Supply Chain Security and the SBOM

NIS2 mandates security assessments of the entire supply chain. This means that hospitals (Essential Entities) will demand rigorous security proof from their suppliers (MedTech startups).

Vendor Management: Medtech founders must audit their software suppliers (e.g., cloud providers, third-party libraries). Providing a Software Bill of Materials (SBOM) is becoming a standard requirement for selling into hospital systems that are themselves NIS2-compliant entities. Failure to provide an SBOM can disqualify a vendor from procurement tenders.

Optimise for the "Exit Window": Aligning with the Private Equity Liquidity Cycle

The macro-financial context of 2026 is defined by a massive backlog of private equity assets that need to exit. Funds from the 2019–2021 vintage are reaching the end of their holding periods, creating a "use it or lose it" dynamic. This creates a unique window for exits, provided companies align with the buyers' needs.

The "Private IPO" and Continuation Funds

With the public IPO market remaining selective and volatile, PE firms are utilising Continuation Funds to hold high-performing assets longer while returning liquidity to Limited Partners (LPs).

Strategy: Founders should position their companies as attractive assets for these continuation vehicles. This involves demonstrating consistent EBITDA growth, low churn, and a defensible market position. Being the "crown jewel" asset in a continuation fund can offer a partial exit for early investors while securing capital for the next growth phase.
Secondary Buyouts: We expect a wave of secondary buyouts where larger PE funds acquire platforms from smaller mid-market funds to execute the next phase of growth (e.g., international expansion). Founders should maintain relationships with upstream PE funds to facilitate these transactions.

Distressed M&A and Consolidation

For companies that have failed to secure reimbursement or achieve MDR compliance, 2026 will be a year of distress.

Acqui-hires and IP Sales: Large strategics will acquire struggling startups solely for their intellectual property or regulatory approvals ("compliance driven M&A").
Survival Strategy: Founders in a fragile cash position must explore strategic mergers early in 2026 before the "regulatory guillotine" of May/August 2026 forces a fire sale. Merging with a competitor to share the burden of regulatory compliance and commercial infrastructure can save shareholder value that would otherwise be wiped out in a bankruptcy.

Execute a Dual-Market Strategy: Navigating the EU-US Divergence

While Europe undergoes regulatory hardening, the US market remains a critical target for scale. However, the FDA is also evolving in 2026, particularly with the harmonisation of its Quality System Regulation (QSR) with ISO 13485 (the QMSR rule).

The FDA QMSR Alignment

In February 2026, the US FDA's Quality Management System Regulation (QMSR) goes live, aligning the US 21 CFR Part 820 with the international ISO 13485 standard.

Opportunity: This harmonisation reduces the friction for European companies (who are already ISO 13485 compliant) to enter the US market. The duplicate burden of maintaining two separate quality systems is significantly reduced.
Strategy: Founders should leverage their existing ISO 13485 certification to streamline US market entry. However, they must remain vigilant about specific FDA requirements that remain distinct (e.g., complaint handling, labelling and Medical Device Reporting) to avoid 483 observations during inspections.

US Market Entry as a Valuation Multiplier

European valuations are traditionally lower than US valuations. Establishing a commercial footprint in the US, even a modest one, can significantly expand the valuation multiple.

Reimbursement Arbitrage: The US reimbursement landscape (CPT codes) is often more fragmented but can offer higher per-unit revenue than European centralised systems. Securing US reimbursement (e.g., Remote Patient Monitoring codes) validates the business model for global investors and opens up a larger Total Addressable Market (TAM). A dual-market strategy diversifies regulatory risk; if a product is delayed in the EU due to Notified Body bottlenecks, US revenue can sustain the company.

Align with Corporate Venture (CVA) Needs: Solving the Pharma Patent Cliff

Large pharmaceutical and medtech incumbents are facing a severe "patent cliff" between 2026 and 2030, with an estimated $180 Billion to $400 Billion in revenue losing exclusivity. They are desperate for external innovation to fill their revenue gaps and defend their market position.

The "TechBio" Convergence

Pharma companies are aggressively acquiring AI-driven drug discovery platforms ("TechBio") to compress development timelines and reduce costs.

Generative Biology: Startups using Generative AI for molecule design, protein folding, and target identification are high-value targets.
Action: Founders in the TechBio space should structure their business development to offer "platform deals" rather than single-asset licenses. This aligns with Pharma's need for scalable R&D engines that can produce multiple candidates over time.

MedTech Incumbents as Strategic Buyers

Medtronic, Johnson & Johnson, Philips, and Siemens Healthineers are using their corporate venture arms (CVA) as strategic reconnaissance tools.

Strategic Fit: These incumbents are looking for assets that integrate into their existing hardware ecosystems (e.g., AI software that runs on Siemens MRI machines or robotic surgery add-ons).
Partnership Strategy: Securing a strategic investment or commercial partnership with a major incumbent in 2026 is often a precursor to acquisition. It validates the technology and provides a distribution channel that startups cannot build organically. Founders should actively cultivate relationships with CVA teams, framing their startups as the "R&D department" that the incumbent cannot build internally.

10. Future-Proof via ESG & Supply Chain Transparency (CSRD)

Sustainability has graduated from a "nice-to-have" marketing message to a license to operate. The Corporate Sustainability Reporting Directive (CSRD) requires large companies to report on their environmental and social impact. While many startups fall below the direct reporting thresholds, they are indirectly affected as part of the supply chain of larger entities.

Emissions and the Supply Chain

Large medtech and pharma companies (the customers and acquirers of startups) must report on their Scope 3 emissions (which includes their supply chain).

Competitive Advantage: Founders who can provide granular, verifiable data on the carbon footprint of their products (e.g., sustainable packaging, energy-efficient software, localized manufacturing) become preferred suppliers.
Green Procurement: Hospitals and health systems, particularly in the Nordics and the UK (NHS Net Zero targets), are introducing strict environmental criteria into procurement tenders. Non-compliant vendors risk being locked out of the market entirely.

Social Governance and Diversity

Investors are increasingly scrutinising "Social" and "Governance" factors as indicators of risk.

Diversity & Inclusion: Diverse leadership teams are viewed as a proxy for good governance and innovation capacity.
Ethical AI: As part of ESG, the ethical use of AI (bias mitigation, fairness) is a key governance metric that aligns with the AI Act requirements. Demonstrating a proactive stance on ethical AI reduces reputational risk and appeals to ESG-focused funds.

Conclusion: The Great Rationalisation

The year 2026 represents a "Great Rationalisation" for the European HealthTech and MedTech sector. The era of easy money, regulatory ambiguity, and "growth at all costs" is over. It has been replaced by a landscape defined by industrial rigour, regulatory enforcement, and financial discipline.

For founders, the path to maximizing shareholder value lies not in chasing hype cycles, but in building robust, compliant, and efficient infrastructure. It requires a mastery of the "boring" elements of the business: Quality Management Systems, regulatory technical files, unit economics, interoperability standards, and cybersecurity protocols.

The winners of 2026 will be those who successfully navigate the "Regulatory Darwinism," turning compliance into a competitive advantage, and who position themselves as essential infrastructure in the digitized healthcare systems of Europe and the United States. They will be the "industrial assets" that attract the trillions of dollars of dry powder waiting to be deployed.

Summary Checklist for Founders in 2026

Regulatory: Secure MDR/IVDR certification immediately, prepare for AI Act enforcement (Aug 2026).
Financial: Optimise for EBITDA and the evolved "Rule of 40"; prepare financial data for PE due diligence.
Data: Align technology with EHDS technical standards; build native interoperability (FHIR).
Reimbursement: Convert DiGA/PECAN pilots to permanent listings with robust clinical data.
AI: Implement "Glass Box" Vertical AI with robust ISO 42001 governance.
Cyber: Ensure NIS2 compliance; establish Board-level cybersecurity oversight.
Exit: Position for the PE liquidity cycle (Continuation Funds/Secondary Buyouts).
Global: Leverage ISO 13485 for FDA QMSR alignment to open the US market.
Partnerships: Target Pharma/MedTech incumbents facing patent cliffs with platform solutions.
ESG: Provide specific carbon/sustainability data for supply chain reporting to customers.

Nelson Advisors > European MedTech and HealthTech Investment Banking

Nelson Advisors specialise in Mergers and Acquisitions, Partnerships and Investments for Digital Health, HealthTech, Health IT, Consumer HealthTech, Healthcare Cybersecurity, Healthcare AI companies. www.nelsonadvisors.co.uk

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