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  1. Deals Analysis
May 6, 2021

Canada’s medical devices industry sees a rise of 125% in deal activity in Q1 2021

Led by $115m private equity deal with Kardium, Canada’s medical devices industry saw a rise of 125% in overall deal activity during Q1 2021, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 27 deals worth $489.76m were announced in Q1 2021, compared with the last four-quarter average of 12 deals.

venture financing was the leading category in the quarter with 11 deals which accounted for 40.7% of all deals.

In second place was M&A with ten deals, followed by private equity with six transactions, respectively accounting for 37.04% and 22.2% of overall deal activity in the Canada’s medical devices industry during the quarter.

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In terms of value of deals, private equity was the leading deal category in Canada’s medical devices industry with total deals worth $203.96m, while M&A and venture financing deals totalled $182.98m and $102.82m respectively.

Canada medical devices industry deals in Q1 2021: Top deals

The top five medical devices industry deals accounted for 84.6% of the overall value during Q1 2021.

The combined value of the top five medical devices deals stood at $414.21m, against the overall value of $489.76m recorded for the quarter.

The top five medical devices industry deals of Q1 2021 tracked by GlobalData were:

1) Fidelity Management & Research and T Rowe Price Associates’ $115m private equity deal with Kardium

2) The $110m acquisition of 7D Surgical by SeaSpine

3) TELUS Health Solutions’ $70m asset transaction with Babylon Healthcare Services

4) The $65m venture financing deal with CorVista Health by Ambix Life Science Fund I and MedVenture Partners

5) Caisse de dépôt et placement du Québec’s private equity with Savaria for $54.21m.

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