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  1. Deals Analysis
August 4, 2021

Medical Devices industry artificial intelligence venture financing deals total $986.4m in North America in Q2 2021

Led by $255m venture financing of InSilico Medicine, total medical devices industry artificial intelligence venture financing deals worth $986.4m were announced in North America in Q2 2021, according to GlobalData’s deals database.

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The value marked an increase of 22.9% over the previous quarter and a rise of 66% when compared with the last four-quarter average of $594.31m.

North America held a 52.47% share of the global medical devices industry artificial intelligence venture financing deal value that totalled $1.88bn in Q2 2021. With a 52.47% share and deals worth $986.43m, the US was the top country in North America’s artificial intelligence venture financing deal value across medical devices industry.

In terms of deal activity, North America recorded 21 artificial intelligence deals during Q2 2021, marking a decrease of 22.22% over the previous quarter and a drop of 11.58% over the last four-quarter average. The US recorded 21 deals during the month.

North America medical devices industry artificial intelligence venture financing deals in Q2 2021: Top deals

The top five artificial intelligence venture financing deals accounted for 71.5% of the overall value during Q2 2021.

The combined value of the top five medical devices artificial intelligence venture financing deals stood at $704.88m, against the overall value of $986.4m recorded for the quarter.

The top five medical devices artificial intelligence deals of Q2 2021 tracked by GlobalData were:

1) B Capital Group Management, Baidu Ventures, Bold Capital Partners, CITIC Industrial Investment Fund Management, Deerfield ManagementLP, Eight Roads Ventures, Formic Ventures, Lake Bleu Capital, Lilly Asia ventures, Maison Capital Group, Mirae Asset Capital, Orbimed Advisors, Pavilion Capital Partners, President International Development, Qiming Venture Partners, Sage Partners, Sequoia Capital China, Sinovation Ventures and Warburg Pincus’ $255m venture financing of InSilico Medicine

2) The $165m venture financing of PathAI by 8VC , Adage Capital Partners, Biospring Partners, Bristol-Myers Squibb, D1 Capital Partners, General Atlantic, General Catalyst Partners, Kaiser Permanente Ventures, KdT Ventures, LabCorp Venture Fund, Merck Global Health Innovation Fund, Polaris Partners, Refactor Capital and Tiger Global Management

3) AME Cloud Ventures, Ardea Partners, Aspect Ventures, AXA Venture Partners, Canvas Ventures, Centene, General Atlantic, NGP Capital and Workday Ventures’ $110m venture financing of Vida Health

4) The $100m venture financing of Caresyntax by Arno Capital, Intel Capital, IPF Management, Lauxera Capital Partners, Optum Ventures, PFM Health Sciences, Relyens, Rezayat Investments, and Vesalius Biocapital III Partners

5) 3VC Partners, A-Round Capital, Balderton Capital (UK), Eurazeo, Heartcore Capital, Optum Ventures and Symphony Ventures’ venture financing of Kaia Health for $74.88m.

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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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