US medical devices industry experiences a drop of 21.7% in deal activity
According to GlobalData’s deals database, the US medical devices industry saw a drop of 21.7% in overall deal activity during April 2020, when compared with the average deal activity over the last 12 months.
During April, a total of 65 deals worth $459.95m were reportedly announced. This is less than the 12 month average of 83 deals.
By volume
The highest volume of deals came from the venture financing category. Here, there was 47 deals which accounted for 72.3% of all deals. In second place was M&A with 13 deals, followed by private equity with five transactions, respectively accounting for 20% and 7.7% of overall deal activity in the country’s medical devices industry during the month.
By value
In terms of the value of deals, venture financing was the leading deal category in the US medical devices industry with total deals worth $418.2m, followed by private equity deals which totalled $41.74m.
The top five medical devices industry deals accounted for 43.7% of the overall value during April 2020, and the combined value of these deals was $201.2m.
The top five medical devices industry deals of April 2020 tracked by GlobalData were:
- Cedars-Sinai Medical Center, John Doerr and Pitango Venture Capital’s $70m venture financing of Click Diagnostics
- The $50m venture financing of Dascena by Euclidean Capital, Frazier Healthcare Partners and Longitude Capital Management
- Clinton Capital Partners, Perennial Value Management, ROTH Capital Partners and Vickers Venture Partners’ $34m venture financing of Lumitron Technologies
- The $25m venture financing of AtaCor Medical by aMoon Partners, Broadview Ventures, Catalyst Health Ventures, Hatteras Venture Partners and Longview Ventures
- Casdin Capital and Sofinnova Crossover I Fund’s private equity deal with MaxCyte for $22.2m.
The overall value recorded for all deals that took place during April was $459.95m.