Analysis of the key themes driving M&A activity reveals that artificial intelligence accounted for 7 medical devices deals announced in Q3 2022, worth a total value of $3.7m, according to GlobalData’s whitepaper on Artificial Intelligence in Medical Devices – M&A Deal Activity in Q3 2022. The $2.9m acquisition of Pilloxa by iZafe Group was the industry’s largest disclosed deal.

In value terms, artificial intelligence-related deal activity decreased by 82% in Q3 2022 compared with the previous quarter’s total of $20m and fell by 98% as compared to Q3 2021. Related deal volume increased by 133% in Q3 2022 versus the previous quarter and was 22% lower than in Q3 2021.

Top 5 M&A deals related to artificial intelligence in the medical devices industry since 2021

Target	Acquirer	Deal Value ($M)	Deal Date
Preventice	Boston Scientific	$1,225M	Jan-21
Decipher Biosciences	Veracyte	$600M	Feb-21
Modern Fertility	Roman Health Ventures	$225M	May-21
Inventive Healthcare Solutions; Virusight Diagnostic		$111M	Aug-21
Vicarious Surgical		$102M	Apr-21

Source: GlobalData Deals Database

Ranking of financial advisors for Artificial Intelligence related deals in the medical devices industry, 2022

The top-ranked financial advisors supporting these M&A deals in 2022 were ARC Group; First Analysis Securities; Mangold Fondkommission with 1, 1, 1 deals respectively.

Advisor Name	2022 Rank	2021 Rank
ARC Group	1	-
First Analysis Securities	1	-
Mangold Fondkommission	1	-
Turner Pope Investments (TPI)	1	-

Source: GlobalData Deals Database

Ranking of legal advisors for artificial intelligence related deals in the medical devices industry, 2022

The top-ranked legal advisors supporting these M&A deals in 2022 were Bennett Jones; Bird & Bird; Nelson Mullins Riley & Scarborough with 1, 1, 1 deals respectively.

Advisor Name	2022 Rank	2021 Rank
Bennett Jones	1	-
Bird & Bird	1	-
Nelson Mullins Riley & Scarborough	1	-
Rimon	1	-
Wilson Sonsini Goodrich & Rosati Professional	1	1

Source: GlobalData Deals Database

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Acquisition, Asset transactions and Mergers.