Led by $3.12bn private equity deal with Evident, Asia-Pacific’s medical devices industry saw a drop of 32.82% in cross border deal activity during Q3 2022, when compared to the last four-quarter average, according to GlobalData’s deals database.
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A total of 22 cross border deals worth $3.3bn were announced for the region during Q3 2022, against the last four-quarter average of 32.75 deals.
Of all the deal types, venture financing saw most activity in Q3 2022 with 17 deals, representing a 77.3% share for the region.
In second place was M&A with four deals, followed by private equity deals with one transactions, respectively capturing an 18.2% and 4.6% share of the overall cross border deal activity for the quarter.
In terms of value of cross border deals, private equity was the leading category in Asia-Pacific’s medical devices industry with $3.12bn, followed by venture financing deals totalled $142.71m.
Asia-Pacific medical devices industry cross border deals in Q3 2022: Top deals
The top five medical devices cross border deals accounted for a 98.6% share of the overall value during Q3 2022.
The combined value of the top five cross border deals stood at $3.22bn, against the overall value of $3.3bn recorded for the quarter.
1) Bain Capital’s $3.12bn private equity deal with Evident
2) The $52.57m venture financing of CureApp by The Carlyle Group
3) Hillhouse Ventures and Proxima Ventures’s $14.8m venture financing deal with Shanghai Biohandler Life Sci-Tech
4) The $14.79m venture financing of Kolo Medical (Suzhou) by GAN Ventures and Walden International (China)
5) Meihong Investment, Powerfang Capital, Proxima Ventures and Taiyu Investment’s $14.37m venture financing deal with Beijing Leading Medical Valley Technology Development