The European Union’s regulation of medical devices in Europe only began in the 1990s. Previously, member states acted independently, but the differing national requirements were replaced by EU directives including the 1993 Medical Devices Directive (MDD) and the 1998 In Vitro Diagnostics Directive (IVDD). What can they see that we can’t? Private equity bids for UK companies are soaring, while at the same time the UK stock market languishes at valuations well below US peers.