Led by $223m venture financing of Cleerly, total medical devices industry cross border venture financing deals worth $1.1bn were announced in North America in Q3 2022, according to GlobalData’s deals database.
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The value marked an increase of 14.1% over the previous quarter and a drop of 28.8% when compared with the last four-quarter average of $1.6bn.
North America held a 67.86% share of the global medical devices industry cross border venture financing deal value that totalled $1.68bn in Q3 2022. With a 63.69% share and deals worth $1.07bn, the US was the top country in North America’s cross border venture financing deal value across medical devices industry.
In terms of deal activity, North America recorded 34 cross border deals during Q3 2022, marking an increase of 25.93% over the previous quarter and a drop of 19.53% over the last four-quarter average. The US recorded 25 deals during the month.
North America medical devices industry cross border venture financing deals in Q3 2022: Top deals
The top five cross border venture financing deals accounted for 50.5% of the overall value during Q3 2022.
The combined value of the top five medical devices cross border venture financing deals stood at $575m, against the overall value of $1.1bn recorded for the quarter.
The top five medical devices cross border deals of Q3 2022 tracked by GlobalData were:
1) 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
2) The $110m venture financing of Orchestra BioMed by Medtronic, Perceptive Advisors, RTW Investments, SternAegis Ventures and Terumo
3) Andera Partners, Bain Capital Life Sciences, Cormorant Asset Management, Gimv, Innovatus Capital Partners, Peijia Medical, Pictet Alternative Advisors, Qatar Investment Authority, RMM Consulting Group, Valiance Advisors and Venture Incubator’s $100m venture financing deal with JenaValve Technology
4) The $75m venture financing of Medical Microinstruments by Andera Partners, BioStar Capital, Deerfield Management Co, Fountain Healthcare Partners, Panakes Partners, RA Capital Management and Samba Tech
5) Bluestem Capital Company, Falcon Vision Global, Marshall Wace and MVM Partners’s $67m venture financing deal with Neurolenses