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ViVE 2026 concluded on February 25th this week in Los Angeles, signalling a major shift in the industry, the "honeymoon phase" of experimental AI is over. The focus has moved from flashy pilots to operational accountability and measurable ROI.Here are 10 key observations and takeaways from the floor of ViVE 2026:1. The "Pilot to Platform" Pivot Executives agreed that the era of isolated AI pilots is closing. Health systems are now demanding enterprise-wide AI strategies that integrate directly into existing workflows. Investment is being funneled into tools that can scale across an entire organization rather than niche solutions that add to "app fatigue.2. Nursing Input is No Longer OptionalA major theme was the "Evolution of Nursing in a Tech-Enabled Future." Leaders emphasized that technology—especially ambient listening and AI documentation—often fails because it’s designed without bedside nurses at the table.The consensus: if a nurse didn't help build it, the frontline won't use it.3. Cybersecurity: From Prevention to Containment The narrative around cybersecurity has shifted from "keeping them out" to "limiting the blast radius." Radical moves were discussed, such as Baptist Health removing external email access for thousands of frontline staff to eliminate phishing risks—a strategy they call "Safe Mail."4. ROI is the New North Star With health systems facing thin margins, every digital tool must now prove its financial worth. Companies like Trinity Health shared roadmaps for eliminating nearly $80 million in operating expenses through tech-driven cost optimization, proving that digital health must now be a "margin protector."5. Interoperability as "Operational Transparency" Interoperability is moving beyond regulatory compliance (meeting CMS mandates) toward becoming a functional tool for clinical intelligence. The goal is no longer just "moving data," but ensuring that data provides a unified clinical view across imaging, pathology, and pharmacy in real time.6. The Rise of "Autonomous AI Agents" While 2025 was about "copilots," 2026 is the year of the Agent. Companies like Artera and HCLTech showcased autonomous AI agents capable of managing complex patient workflows, scheduling, FAQ resolution and intake, without human intervention, significantly reducing administrative burnout.7. Diagnostics at the Point of Care There was a heavy focus on moving high-level diagnostics out of specialized centers and into the community. Innovations in AI-enabled MRI interpretation and cardiology tools (like estimating heart function from limited imaging) are making specialty-level care accessible in local clinics.8. Direct-to-Employer Pharmacy Models GoodRx launched its "Employer Direct" platform at the show, reflecting a trend where employers are bypassing traditional pharmacy benefit frameworks to subsidize high-cost drugs (like GLP-1s) directly. This reflects a broader shift toward patient and employer agency in drug pricing.&nbsp;9. Patient-Led TransportationUber Health unveiled a new self-booking feature, allowing patients to book their own benefit-covered rides. Early pilots showed an 86% decrease in missed appointments, proving that giving patients autonomy—rather than relying on back-end provider booking—leads to better health outcomes.10. AI Governance as a Competitive Advantage As state and federal AI regulations tighten, organizations are positioning "AI Governance" as a business asset. Those who can prove their AI is transparent, unbiased, and safe are winning more contracts and patient trust than those who move fast and break things.Source: <a href="https://hlth.com/events/vive/" data-mce-href="https://hlth.com/events/vive/">https://hlth.com/events/vive/</a>

10 Key Observations from ViVE 2026

Across Europe this week you’re seeing three main HealthTech threads: stepped‑up public funding (notably Ireland’s new ARC Hub), continued tightening of the MDR/IVDR–AI Act regime and selective early‑stage capital going into neuro and infrastructure‑style digital health.Public funding and hubs Ireland formally launched the €34.3m ARC Hub for HealthTech, with RCSI and University of Galway as partner institutions, to back research‑led innovation and commercialisation in medtech and digital health. 2026 Horizon Europe “Health” calls went live this month, with topics including digital‑mental‑health harms in youth and long‑COVID, reinforcing EU‑level non‑dilutive capital for data‑ and AI‑heavy health projects.​ Regulation and policy The Commission’s late‑2025 MDR/IVDR “simplification” package is now the reference point in 2026, focusing on streamlined notified‑body oversight, clearer recertification timelines, and more explicit software and cybersecurity requirements for SaMD and connected medtech. EU AI Act high‑risk provisions for clinical AI are phasing in (full enforcement in March 2026), which is already steering capital toward explainable “glass‑box” models to satisfy transparency and human‑oversight standards. The new EU Health Technology Assessment Regulation (EU 2021/2282), applicable since January 2025, is bedding in: EMA and HTA bodies will run joint clinical assessments for certain high‑risk devices, impacting evidence packages and pan‑EU pricing/market access strategy.​ UK–EU device access In the UK, MHRA opened a consultation on routes to access medical devices approved in Europe, aiming to leverage EU approvals while maintaining domestic oversight, which matters for EU–UK launch sequencing and label strategy.​ Capital flows and startups Female‑led Danish startup Hemi Health raised c.€4m to scale migraine and concussion digital therapeutics internationally, emblematic of ongoing appetite for neuro and specialty‑care DTx despite a generally disciplined funding climate. Recent dealflow commentary still highlights capital concentration in regulated adjacencies such as AMR diagnostics, cardiology, and robotics, with rounds like ShanX Medtech’s ~€24m financing cited as representative of early‑2026 medtech funding focus.​ Sector‑wide analyses describe 2026 as a “great rationalisation” period: the end of venture‑subsidised experimentation and a stronger “flight to quality” toward assets with robust revenue, regulatory clarity and HTA‑ready data. Data, EHDS and infrastructure 2026 is being framed as a preparation year for the European Health Data Space, pushing HealthTech and medtech players to prioritise EHDS‑ready data architectures, anonymisation, governance and cross‑border data‑sharing for AI training and validation.​ EU‑level programmes are explicitly funding backend “plumbing” such as interoperability layers, real‑time monitoring platforms, remote surgical support, and hospital cybersecurity aligned with EHDS‑style data flows.To discuss how Nelson Advisors can help your HealthTech, MedTech, Health AI or Digital Health company, please email <a href="mailto:lloyd@nelsonadvisors.co.uk" data-mce-href="mailto:lloyd@nelsonadvisors.co.uk">lloyd@nelsonadvisors.co.uk</a>&gt;&gt;&gt;&gt;European MedTech this week is dominated by Brussels‑driven regulatory moves around MDR/IVDR and EUDAMED, plus UK steps to lean on CE‑marked devices, all against a backdrop of “industrial maturity” in funding and capital allocation.MDR/IVDR and notified bodies The Commission’s late‑2025 MDR/IVDR simplification proposals are shaping 2026 discussions, targeting streamlined notified‑body oversight, clearer recertification clocks (e.g. 60‑day review, 15‑day certificate issuance), and reduced admin burden while holding safety constant. A draft Implementing Act on Annex VII requirements for notified bodies aims to harmonise how NBs operate, with more uniform expectations and processes expected to ease capacity constraints and improve predictability for manufacturers. New harmonised standards under MDR/IVDR (end‑January decisions) now cover neurosurgical implants, biocompatibility, clinical investigations, sterilisation and labelling, tightening the technical baseline for a wide range of device categories.​ EUDAMED and 2026 deadlines Four key EUDAMED modules (actor registration, UDI/devices, notified bodies &amp; certificates, market surveillance) are now confirmed functional, starting a six‑month transition into mandatory use. From 28 May 2026, new MDR/IVDR devices must be in EUDAMED before EU market entry, with phased timelines for legacy MDD/AIMDD devices, driving manufacturers to accelerate data, UDI and PMS readiness this year. UK: CE‑mark recognition MHRA has launched a consultation (running to 10 April 2026) proposing indefinite recognition of CE‑marked devices in Great Britain, dropping earlier plans for a hard switch to standalone UKCA approvals.​ The proposal would align GB transitions with EU timelines, introduce an international reliance route for higher‑risk devices, and sit alongside new UK post‑market surveillance rules already in force.​ Capital flows and EU‑level funding Recent medtech dealflow commentary still points to capital concentration in AMR diagnostics, cardiology and robotics, with financings like ShanX Medtech’s c.€24m round used as reference cases for where early‑2026 money is going. EU‑level programmes (Horizon Europe, EIC STEP and medical‑technology‑specific calls) are actively funding multinational clinical studies for orphan and “breakthrough” devices, including AI‑enabled solutions, with typical grants in the €6–8m range per project and equity cheques of €10–30m for deep‑tech scale‑ups. Strategic framing: “industrial maturity” Strategic outlook pieces frame 2026 as a “great rationalisation” or industrial maturity phase for European MedTech: less appetite for speculative, pre‑evidence device plays and more emphasis on profitable efficiency, robust PMS and HTA‑ready clinical data. The AI Act’s 2026 high‑risk enforcement timeline is now a binary filter for device‑integrated AI: only teams with strong data governance, documentation and human‑oversight architectures are seen as bankable medtech targets.To discuss how Nelson Advisors can help your HealthTech, MedTech, Health AI or Digital Health company, please email <a href="mailto:lloyd@nelsonadvisors.co.uk" data-mce-href="mailto:lloyd@nelsonadvisors.co.uk">lloyd@nelsonadvisors.co.uk</a>

This Week in European MedTech and HealthTech: 27th February 2026

Nelson Advisors Partner Lloyd Price interviewed by Healthcare Business International regarding hims &amp; hers acquisition of Australian Digital Health platform EucalyptusLloyd Price, partner at M&amp;A advisory firm Nelson Advisors, a consultancy that focuses exclusively on the healthcare technology (healthtech) and medical technology (medtech) sectors, tells HBI the acquisition serves both defensive and offensive purposes.“Strategically, it hedges against rising US regulatory risks surrounding compounded GLP‑1 drugs and DTC (direct-to-consumer) advertising, which have already impacted Hims through investigations and strained partnerships,” Price tells us.The move comes amid scrutiny of Hims &amp; Hers’ compounded GLP-1 offerings, including a withdrawn copy of the compounded version of weight loss pill Wegovy from Danish drugmaker Novo Nordisk, which triggered action from the Food and Drug Administration and a patent lawsuit. Despite strong growth in 2025, where the company recorded a 59% year- over-year growth in revenue to $2.35 billion, shares fell over 7% due to weaker than expected 2026 guidance.Strategic buyers are increasingly using acquisitions to expand into new markets and patient populations, as shown by Hims’ purchase of Eucalyptus, rather than traditional and local market-focused ‘buy and build’ strategies. Buyers now prefer scaled, multi‑condition platforms with strong regulatory, clinical, and data credentials over small point solutions, Price tells us.In the last few months, I have heard the phrase “Venture Capital has seeded and built the digital health market, private equity will now scale and make the market…” says Price.“High‑growth verticals like metabolic health, behavioural health, community care, and women’s health sit at the centre of a lot of PE fund interest in Europe, the US, and Asia.Top acquisition targets will be multi‑market‑ready platforms with clinical and regulatory sophistication, well evidenced and demonstrable financial or operational ROI — not just strong user engagement,” he tells us. However, rather than paying high, upfront cash multiples like before 2021, investors now prefer more structured deals with earn‑outs tied to recurring revenue, margin growth, and increasing regulatory strength, as per Price.“The Hims–Eucalyptus deal exemplifies this range, with a mix of headline and performance‑linked valuation through earn‑outs. As M&amp;A activity rebounds, top‑tier healthtech assets are expected to see modest multiple expansion driven by quality and competition, while weaker assets will stay in discounted, highly structured deal territory,” Price tells HBI.Source: <a href="https://www.healthcarebusinessinternational.com/hims-hers-acquires-australian-digital-health-platform-eucalyptus/#advancedSearchQueryAnchor">https://www.healthcarebusinessinternational.com/hims-hers-acquires-australian-digital-health-platform-eucalyptus/#advancedSearchQueryAnchor</a>

Nelson Advisors interviewed by Healthcare Business International regarding hims & hers acquisition of Eucalyptus

Is this the end of the road for Patient Portals and patient engagement platforms in the UK?NHS England is proposing to remove much of the current market for third‑party patient engagement portals by pulling core hospital appointment management into the national NHS App, with an estimated saving of around £11M a year.Source: <a href="https://www.hsj.co.uk/technology-and-innovation/confusing-nhs-app-functions-to-be-standardised/7041174.article">https://www.hsj.co.uk/technology-and-innovation/confusing-nhs-app-functions-to-be-standardised/7041174.article</a>What HSJ is reportingHSJ reports that NHS England plans to “dismantle” the existing patient engagement portal supplier market by standardising functions and delivering key appointment features directly via the NHS App, rather than via multiple local portals.The move is framed as a cost‑saving and simplification measure, with internal estimates suggesting it could save roughly £11m annually across the system.Context: NHS App as default front doorGovernment and NHSE policy over the last 2–3 years has been to make the NHS App the primary “front door” for patient communication and appointment management, including through the Wayfinder/Secondary Care Integration Programme.By April 2025, more than 80–90% of hospitals were already exposing appointment services through the NHS App, which has tens of millions of registered users and is credited with reducing missed appointments and saving staff time.Implications for portal suppliersHSJ notes that NHSE has effectively “put patient engagement portal suppliers on notice” by signalling that core appointment functionality will be handled centrally, rather than procured locally from multiple vendors. ​ In this model, local and third‑party systems are expected to act more as back‑end “engines” feeding data and workflows into the NHS App, rather than as standalone patient‑facing portals in their own right.

End of the road for Patient Portals and patient engagement platforms in the UK?

Pitchfest is the start-up competition at Digital Health Rewired, where innovative digital health companies pitch live in front of NHS leaders, investors and industry peers.Following competitive online heats, eight start-ups have progressed to the live final at #Rewired26.Meet the finalists: • Ben Whately, Astron Health • Lloyd Humphreys, Cogniss • Valentina Milanova, Daye • Matt Kearney, Into-Action.Health Ltd • Grant Nolan, Jigsaw Medical 🧩 • Lucrezia Cester, LightHearted AI • Clint Schick, Mavis Technologies Limited • Andrew Darby-Smith, UpskillExpert judging panel:• Chris Chaney, Chief Executive, CW+ charity • Chris Sawyer, Innovation Lead, Digital Health, Innovate UK • Jon Hoeksma, CEO, Future Health Intelligence • Pei-Fen Lin, Clinical Director of Innovation, Moorfields Eye Hospital, London • Michael Morgan-Curran, CEO, Asclepius MedTech Limited • Sara Nelson, Programme Director, Digital Health London • Rowan Mould, Start Up Programme Manager, The Hill • Lloyd Price, Partner, Nelson Advisors • Mindy Simon, Co-Director, NHS Innovation Accelerator • Dillan Yogendra, Account Director, Silver Buck<a href="https://digitalhealthrewired.com/pitchfest/">https://digitalhealthrewired.com/pitchfest/</a>

Nelson Advisors joins expert judging panel for Digital Health Rewired Pitchfest 2026

The software sell-off and AI bubble fears are likely to create a more selective, valuation disciplined but still AI‑hungry environment for Digital Health, HealthTech and MedTech funding and M&amp;A across the rest of 2026.Big picture: what’s changed Listed software and software‑services are down c. 20–25% YTD, with c. USD 1tn of market cap wiped out and hedge funds materially short, which is pushing investors to reassess software and AI business models and compress multiples. At the same time, IT and AI capex are still growing strongly into 2026 (Gartner sees &gt;USD 6tn IT spend in 2026), so AI adoption and infrastructure build‑out are continuing even as “AI bubble” talk rises. HealthTech / MedTech strategics entered 2026 with expectations of an acceleration in M&amp;A, driven by better credit markets, easing antitrust in the US, and the need to acquire AI capabilities in RCM, provider ops and analytics. Funding: Digital Health &amp; HealthTech For the rest of 2026, expect:Tighter terms and lower valuations for generic SaaS‑like digital health: The public software derating will be used as a benchmark, driving lower revenue multiples for loss‑making workflow tools, point solutions and non‑differentiated SaaS. Capital rotation toward AI with proven ROI: In 2025, AI‑enabled digital health companies already captured a majority of VC dollars; that share is rising into 2026, but LPs and GPs are concentrating on use‑cases with measurable cost savings (RCM, billing, provider productivity) rather than speculative “AI platforms”. Longer diligence and more technical scrutiny: Investors are now explicitly testing AI defensibility (data moats, model performance, workflow integration) and resilience to disruption from hyperscalers / agentic tools, mirroring the discrimination now happening in listed software. Later‑stage rounds harder, earlier‑stage still active but smaller: Cross‑over and growth investors burned in software will demand clearer paths to profitability and payback periods in healthtech; seed and Series A will stay active but with smaller round sizes and stronger focus on regulatory / reimbursement path. Illustration: a Series C digital chronic‑care platform that would have raised at 12–14x NTM revenue in 2021–22 may now be guided toward 6–9x, with more structure (ratchets, liquidation preferences) and heavier evidence demands on outcomes and gross margin improvement, while an AI‑RCM or coding automation startup with strong unit economics can still command premium terms.M&amp;A: HealthTech &amp; MedTech Strategic and PE M&amp;A are likely to accelerate but become more barbelled and opportunistic:Strategics use the sell‑off to buy AI and software assets cheaper: Large payers, providers and MedTech OEMs already planned to buy AI‑enabled platforms in RCM, workflow automation and analytics; lower public and private valuations increase the universe of “digestible” targets and improve deal economics. Big Tech health bets become more disciplined: Interoperability and data‑exchange mandates in the US and elsewhere are still pushing Big Tech toward health data platforms, but the broader AI re‑rating will likely shift them from “growth at any price” to acquiring proven, scaled assets that slot into their cloud / data strategies. MedTech focuses on AI‑augmented devices and services: OEMs will keep acquiring AI‑enabled imaging, surgical planning, robotics software and post‑op monitoring platforms, as AI is now viewed as core infrastructure rather than optional add‑on; the derating in software helps de‑risk multiple paid on these targets. PE leans into carve‑outs and roll‑ups: With valuations down but AI adoption still necessary, PE will look to carve out under‑invested software units from corporates and build scaled platforms in RCM, rev‑ops, and specialty‑specific software, expecting to benefit from eventual multiple re‑expansion.Practical implications for 2026 strategy For the rest of 2026, this environment supports a “quality and efficiency” thesis:For founders: emphasise quantified ROI and defensibility (proprietary data, deep workflow integration, regulatory assets) over generic “AI” narratives; be prepared for down‑round optics but pursue strategic investors who value the asset in their P&amp;L. For acquirers: build pipelines around AI‑native assets in RCM, ops, and device‑adjacent software that are now cheaper relative to 2021–22, but subject them to stringent tech and reimbursement diligence. For investors: expect dispersion, winners with real AI leverage and healthcare economics still command healthy valuations and see exit routes via strategics, while “me‑too” digital health SaaS may face a lost vintageTo discuss how Nelson Advisors can help your HealthTech, MedTech, Health AI or Digital Health company, please email <a href="mailto:lloyd@nelsonadvisors.co.uk" data-mce-href="mailto:lloyd@nelsonadvisors.co.uk">lloyd@nelsonadvisors.co.uk</a>

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10 Key Observations from ViVE 2026

This Week in European MedTech and HealthTech: 27th Februa...

Nelson Advisors interviewed by Healthcare Business Intern...

End of the road for Patient Portals and patient engagemen...

Nelson Advisors joins expert judging panel for Digital He...

How could the Software sell off and AI bubble in early 20...