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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.

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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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.

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