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.

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.