Led by $355.38m acquisition of Beijing Wandong Medical Technology, Asia-Pacific’s medical devices industry saw a drop of 34.55% in deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.
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A total of 72 deals worth $1.48bn were announced for the region during Q1 2021, against the last four-quarter average of 110.00 deals.
Of all the deal types, venture financing saw most activity in Q1 2021 with 55 deals, representing a 76.4% share for the region.
In second place was M&A with 14 deals, followed by private equity deals with three transactions, respectively capturing a 19.4% and 4.2% share of the overall deal activity for the quarter.
In terms of value of deals, venture financing was the leading category in Asia-Pacific’s medical devices industry with $912.88m, while M&A and private equity deals totalled $382.93m and $183.33m, respectively.
Asia-Pacific medical devices industry deals in Q1 2021: Top deals
The top five medical devices deals accounted for a 59.5% share of the overall value during Q1 2021.
The combined value of the top five deals stood at $879.38m, against the overall value of $1.48bn recorded for the quarter.
The top five medical devices industry deals of Q1 2021 tracked by GlobalData were:
1) Midea Group’s $355.38m acquisition of Beijing Wandong Medical Technology
2) The $181.4m private equity deal with PHC by L Catterton Partners
3) ABC International, CCBI Tech Venture, Shiyu Capital Group, Sunland Capital, Thermo Fisher Scientific and YF Capital’s $150m venture financing of WuXi Diagnostic Investment (Cayman)
4) The $100m venture financing deal with NewMed Medical by Boyuan Capital, Dachen Caizhi, Junzi Capital, Orbimed Advisors, Temasek Holdings (Private), Yunfeng Capital and Zhang Kelingyi
5) Alwin Capital, BioTrack Capital, Kangji Medical Holdings, LYFE Capital, Poly (Hengqin) Capital Management, Sanzheng Health Investment, Shanghai Guohe Modern Service Industry Equity Investment Management and Vertex Ventures China’s venture financing with Shenzhen Jingfeng Medical Technology for $92.6m.
Verdict deals analysis methodology
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.