Total medical devices industry artificial intelligence deals worth $476.45m were announced globally for December 2020, with the $200m venture financing of Tempus Labs being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 110.3% over the previous month of $226.59m and a drop of 85.5% when compared with the last 12-month average of $3.29bn.

In terms of number of artificial intelligence deals, the sector saw a rise of 10.53% with 21 deals in December 2020 when compared to the last 12-month average of 19 deals.

In value terms, North America led the activity with artificial intelligence deals worth $321.13m in December 2020.

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Medical Devices industry artificial intelligence deals in December 2020: Top deals

The top five artificial intelligence deals accounted for 77% of the overall value during December 2020.

The combined value of the top five artificial intelligence deals stood at $366.87m, against the overall value of $476.45m recorded for the month.

The top five medical devices industry artificial intelligence deals of December 2020 tracked by GlobalData were:

1) Baillie Gifford, Franklin Templeton Investments, Google, Novo Holdings and T Rowe Price Associates’ $200m venture financing of Tempus Labs

2) The $65.68m venture financing of Remebot by CITIC Construction Investment, Heyin Capital, Jiuxian Capital, Matrix Partners China II Hong Kong, Xinding Capital and Zhongguancun Longmen Fund

3) General Catalyst Partners, John Doerr and Mosaic Health Solutions’ $40m venture financing of Well Dot

4) The $38.19m venture financing deal of Xinhe Biotechnology by Ltd., IDG Capital Investment Consulting (Beijing) Co., Kunlun Capital and Yahui Capital

5) Hitachi Ventures and Scale Venture Partners’ venture financing deal with Proscia for $23m.