In this year-end review, hosts Stephen Parente, Thom Gunderson, and Matt Stoll discuss key topics covered throughout 2025 in the On Background podcast: the impact of AI, investment trends, market uncertainties, and the future of MedTech. They explore the challenges and opportunities presented by AI in healthcare, the need for clear direction in investment, and the importance of innovation in drug development. The conversation also touches on healthcare costs, consumer engagement, and the regulatory landscape, setting the stage for future discussions in the coming year.