PwC's Next in Health

Bringing medtech innovation to market requires more than a breakthrough technology. It takes the right capital, evidence, reimbursement strategy, and path to scale. In this episode of PwC’s Next in Health, Glenn Hunzinger and Brent Hill continue their conversation with Darshana Zaveri, co-founder and managing partner of Catalyst Health Ventures, and Geoff Pardo, general partner at Gilde Healthcare, exploring what it takes to turn promising medtech innovation into sustainable growth and patient impact. From funding and clinical evidence to M&A, product-market fit, and capital efficiency, the conversation examines how founders, investors, and strategic players are navigating an increasingly complex market.Discussion highlights:The evolving funding environment for early-stage medtech companies and what investors are looking for todayWhy clinical, regulatory, and reimbursement strategies increasingly need to be considered togetherThe forces driving medtech M&A, including portfolio optimization, new buyers, and the need for growthHow companies and investors can build toward meaningful value inflection points and potential exitsThe importance of capital discipline, investor alignment, strong leadership teams, and product-market fitWhere investors see the greatest opportunities for MedTech innovation over the next three to five years and beyondSpeakers:Glenn Hunzinger, US Health Industries Leader, PwCDarshana Zaveri, Co-founder and Managing Partner, Catalyst Health VenturesGeoff Pardo, General Partner, Gilde HealthcareBrent Hill, Managing Director, Medtech Strategy, PwCFor more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Medtech innovation is accelerating, creating new possibilities for how and where patients receive care. In this episode of PwC’s Next in Health, Glenn Hunzinger and Brent Hill are joined by Darshana Zaveri, co-founder and managing partner of Catalyst Health Ventures, and Geoff Pardo, general partner at Gilde Healthcare, for part one of a two-part conversation on the next wave of medtech innovation. From AI and connected care to less invasive technologies, robotics, and the shift beyond the hospital, the conversation explores the technologies and market trends reshaping medtech and where investors and innovators see the greatest opportunities ahead.Discussion highlights:How medtech innovation is evolving toward less invasive, more scalable, and increasingly connected technologiesAI’s growing role in devices, clinical decision-making, and connected careThe shift from hospitals to ambulatory settings and the home and what it means for medtech companiesEmerging opportunities across neuromodulation, robotics, biomaterials, drug-device combinations, and remote monitoringThe balance between creating entirely new categories and building on established marketsThe growing importance of clinical evidence and data in driving adoption and improving patient careSpeakers:Glenn Hunzinger, US Health Industries Leader, PwCDarshana Zaveri, Co-founder and Managing Partner, Catalyst Health VenturesGeoff Pardo, General Partner, Gilde HealthcareBrent Hill, Managing Director, Medtech Strategy, PwCFor more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Healthcare affordability continues to be one of the defining challenges facing the industry. In this episode of PwC's Next in Health, Glenn Hunzinger is joined by Thom Bales, Derek Skoog, and Philip Sclafani to discuss the findings from PwC's Behind the Numbers 2027 report and the forces driving medical cost trends toward 9% in 2027. From AI-enabled documentation and provider reimbursement to GLP-1 therapies, behavioral health, and payment integrity, the conversation explores what's contributing to rising costs—and where healthcare leaders can focus to improve affordability while continuing to advance innovation and patient care. Discussion highlights:Medical cost trends approaching 9% and the forces driving healthcare inflationAI's growing influence on clinical documentation, payment integrity, and reimbursementInnovation's impact on affordability, from GLP-1 therapies to cell and gene therapiesStrategies health plans, employers, and providers are using to improve affordability and reduce frictionThe evolving role of reimbursement, utilization management, and payment integrity in managing costsWhat rising medical costs mean for employers, consumers, and the future of healthcareSpeakers:Glenn Hunzinger, US Health Industries Leader, PwCThom Bales, US Health Services Advisory Leader, PwCDerek Skoog, Principal, Health Services, PwCPhilip Sclafani, Principal, Pharmaceutical and Life Sciences, PwCFor additional insights, check out our Behind the numbers 2027 report at https://www.pwc.com/us/en/industries/health-industries/library/behind-the-numbers.htmlFor more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Glenn Hunzinger, PwC's US Health Industries Leader, speaks with James Woods, PwC's US MedTech Leader, about the forces shaping MedTech dealmaking in 2026. Despite capital market pressures, supply chain challenges, and geopolitical uncertainty, companies continue to invest in innovation, portfolio transformation, and growth opportunities. The conversation explores where capital is flowing, how companies are reshaping portfolios, and what dealmakers should watch in the months ahead.Discussion highlights:Continued MedTech deal activity despite capital market pressures and economic uncertaintyInvestment focused on cardiovascular technologies, robotics, connected care, and ecosystem-enabling solutionsPortfolio transformation as a driver of growth, shareholder value, and strategic repositioningConnected care's role in improving efficiency, patient outcomes, and healthcare deliveryPrivate equity activity across take-private transactions and portfolio carve-outsStrategic priorities for MedTech leaders balancing organic growth, M&A, and capital allocationSpeakers:Glenn Hunzinger, US Health Industries Leader, PwCJames Woods, US MedTech Deals Leader, PwCFor additional insights on the medtech deals landscape, check out our Medtech: US Deals 2026 midyear outlook https://www.pwc.com/us/en/industries/health-industries/library/medtech-deals-outlook.htmlFor more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Glenn Hunzinger, PwC's US Health Industries Leader, speaks with Dan Farrell, PwC's Health Services Deals Leader, about the forces shaping health services dealmaking in 2026. Despite ongoing reimbursement uncertainty, rising medical costs, and operational pressures, investors continue to deploy capital into assets with strong fundamentals and clear value creation opportunities. The conversation explores where capital is flowing, how AI is influencing investment decisions, and what dealmakers should prioritize in the second half of the year. Discussion Highlights: Resilient health services deal activity despite reimbursement uncertainty and rising medical costsInvestor focus on operational resilience, earnings durability, and clear value creation pathwaysContinued momentum in physician medical groups and behavioral health organizationsAI's growing role in diligence, operational performance, and value creation strategiesIncreased activity in portfolio optimization, carve-outs, and strategic capital allocationKey priorities for dealmakers navigating growth and value creation in the second half of 2026Speakers:Glenn Hunzinger, US Health Industries Leader, PwCDan Farrell, US Health services Deals leader, PwCFor additional insights on the health services deals landscape, check out our Health services: US Deals 2026 midyear outlook available now: https://www.pwc.com/us/en/industries/health-industries/library/health-services-deals-outlook.htmlFor more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Glenn Hunzinger, PwC's US Health Industries Leader, speaks with Dan Farrell, PwC's Health Services Deals Leader, about the forces shaping health services dealmaking in 2026. Despite ongoing reimbursement uncertainty, rising medical costs, and operational pressures, investors continue to deploy capital into assets with strong fundamentals and clear value creation opportunities. The conversation explores where capital is flowing, how AI is influencing investment decisions, and what dealmakers should prioritize in the second half of the year. Discussion Highlights: Resilient health services deal activity despite reimbursement uncertainty and rising medical costsInvestor focus on operational resilience, earnings durability, and clear value creation pathwaysContinued momentum in physician medical groups and behavioral health organizationsAI's growing role in diligence, operational performance, and value creation strategiesIncreased activity in portfolio optimization, carve-outs, and strategic capital allocationKey priorities for dealmakers navigating growth and value creation in the second half of 2026Speakers:Glenn Hunzinger, US Health Industries Leader, PwCRoel Van den Akker, US Pharma and Life Science Deals Leader, PwCFor additional insights on the pharmaceutical and life sciences deals landscape, check out our Pharmaceutical and Life Sciences: US Deals 2026 Midyear Outlook report, available now: https://www.pwc.com/us/en/industries/health-industries/library/pharma-life-sciences-deals-outlook.htmlFor more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

As the 2026 midterm elections approach, healthcare leaders are asking whether this is just another policy cycle or a more pivotal moment in an increasingly complex and fragmented landscape. In this episode of PwC’s Next in Health, Glenn Hunzinger speaks with Kelly Griffin and Philip Sclafani about how shifting policy dynamics, persistent cost pressures, and rapid industry transformation are reshaping strategy across the healthcare ecosystem. Discussion highlights:Why the 2026 midterms are less about sweeping reform and more about signaling the direction of the operating environmentHow affordability, transparency, and increased state-level action are shaping policy and driving industry changeWhy healthcare costs continue to rise and why traditional levers may not be enough to bend the cost curveHow pharma, payers, and providers are adapting business models amid regulatory pressure and evolving market dynamicsThe growing role of AI, partnerships, and ecosystem convergence in accelerating transformationWhat healthcare leaders should prioritize, from policy intelligence and scenario planning to operating effectively in a more fragmented environment  Speakers: Glenn Hunzinger, US Health Industries Leader, PwC Kelly Griffin, Director, Health Policy and Intelligence Institute, PwC Philip Sclafani, Principal, Pharmaceutical and Life Sciences, PwCFor more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

With $50 billion flowing through the Rural Health Transformation Program (RHTP), healthcare leaders are questioning whether this marks short term stabilization or a real opportunity to redesign rural care. In this episode of PwC’s Next in Health, Glenn Hunzinger speaks with Thom Bales and Jill Olmstead about how states are deploying funds, how accountability is shaping execution, and what sustainable rural transformation could look like. Discussion highlights:Why the RHTP differs from prior relief efforts, with funding tied to measurable outcomes and accountabilityHow states are prioritizing workforce sustainability, value based care, and regional partnershipsThe role of technology, telehealth, shared data infrastructure, and AI in expanding access and modernizing rural delivery modelsWhat successful execution requires across governance, compliance, milestone tracking, and multi state coordinationWhy provider engagement with state strategies and ecosystem collaboration will be critical to successWhat durable rural transformation could look like over the next three to five yearsSpeakers:  Glenn Hunzinger, US Health Industries Leader, PwC Thom Bales, US Health Services Advisory Leader, PwC Jill Olmstead, Principal, Health Services, PwCYou can access the full report here: https://www.pwc.com/us/en/industries/health-industries/health-policy-and-intelligence-institute/ruralhealth.htmlFor more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

From the JPM Healthcare Conference in San Francisco, Glenn Hunzinger, PwC’s Health Industries Leader, speaks with Jeremy Gelber, Partner at Vitruvian Partners, and Claire Love, Principal in PwC’s Deals Strategy practice to explore where healthcare investment momentum is building for 2026, how technology is reshaping value creation, and what investors are watching as care models, consumer behavior, and capital deployment continue to evolve.Discussion highlights:Where technology and AI are delivering near term returns by improving efficiency, reducing administrative friction, and streamlining care delivery and paymentWhy women’s health is gaining attention as an underinvested growth opportunity, driven by unmet need, changing consumer expectations, and attractive long term economicsHow regulatory uncertainty is influencing investment decisions, increasing the importance of scenario planning and flexibilityWhere deal activity is expected to pick up in 2026 across healthcare subsectors, including healthcare IT, pharma services, medtech, diagnostics, and biotechHow consumer trust, access to health data, and evolving behavior are shaping future care models and investment prioritiesSpeakers:Glenn Hunzinger, US Health Industries Leader, PwCJeremy Gelber, Partner, Vitruvian PartnersClaire Love, Deals Strategy Principal, PwCThis episode is also available as a video on our website: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast/2026-healthcare-investment-trends.html For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

From the JPM Healthcare Conference in San Francisco, Glenn Hunzinger brings together Sunil Patel of Merck and Sumit Khedekar of Citigroup for a conversation about where growth in the pharmaceutical and biotech industry is headed over the next five to ten years. They explore how scientific innovation, global sources of capital and talent, and a more forward looking approach to risk taking are shaping the future of healthcare, and why this moment may be pivotal for patients and the industry alike.Discussion highlights:Scientific innovation and unmet patient need remain the primary drivers of long term growth across pharma and biotechGlobal sources of innovation, including China, are reshaping licensing strategies and competitive dynamicsCompanies are increasingly willing to take calculated risk earlier in the drug development lifecycleValue creation depends on entering assets at the right inflection point rather than waiting for fully de risked launchesPayer dynamics, pricing pressure, and evolving consumer expectations are influencing how drugs are developed and commercializedSpeakers:Glenn Hunzinger, US Health Industries Leader, PwCSunil Patel, SVP, head of corporate development and business development & licensing, Merck Sumit Khedekar, Global head of Healthcare Investment Banking, CitigroupThis episode is also available as a video on our website: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast/where-will-growth-emerge-across-healthcare.htmlFor more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.