Bain Capital’s $3.12bn private equity deal with Evident was the medical devices industry’s biggest cross border deal of Q3 2022 as cross border deals worth $8.1bn were announced globally in the quarter, according to GlobalData’s deals database.
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The value marked an increase of 11.9% over the previous quarter and a drop of 32.6% when compared with the last four-quarter average of $11.97bn.
In terms of number of cross border deals, the sector saw a drop of 26.90% with 144 deals in Q3 2022 against the average of 197.00 deals in the last four-quarters.
In value terms, Europe led the activity with cross border deals worth $3.26bn.
medical devices industry cross border deals in Q3 2022: Top deals
The top five medical devices industry cross border deals accounted for 69.4% of the overall value during Q3 2022.
The combined value of the top five cross border deals stood at $5.59bn, against the overall value of $8.1bn recorded for the quarter.
The top five medical devices industry cross border deals of Q3 2022 tracked by GlobalData were:
1) Bain Capital’s $3.12bn private equity deal with Evident
2) The $1.54bn private equity of Meridian Bioscience by SD Biosensor and SJL Partners
3) Azenta’s $468.22m acquisition deal with B Medical Systems
4) The $243.32m acquisition of Medi-Globe by DCC Healthcare
5) Breyer Capital, Cigna Ventures, DigiTx Partners, Fidelity Management & Research, Heartland Healthcare Capital, LRVHealth, Mirae Asset Capital, New Leaf Ventures, Novartis, Peter Thiel, Piper Sandler Merchant Banking, Sands Capital Management, T Rowe Price Associates, T. Rowe Price Investment Management and Vensana Capital’s $223m venture financing deal with Cleerly