Led by $100m venture financing of Kerecis ehf, total medical devices industry cross border venture financing deals worth $298.3m were announced in Europe in Q3 2022, according to GlobalData’s deals database.
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The value marked a decrease of 37.3% over the previous quarter and a drop of 44.1% when compared with the last four-quarter average of $533.36m.
Europe held a 17.76% share of the global medical devices industry cross border venture financing deal value that totalled $1.68bn in Q3 2022. With a 5.95% share and deals worth $100m, Iceland was the top country in Europe’s cross border venture financing deal value across medical devices industry.
In terms of deal activity, Europe recorded 25 cross border deals during Q3 2022, marking a decrease of 26.47% over the previous quarter and a drop of 16.67% over the last four-quarter average. The UK recorded eight deals during the month.
Europe medical devices industry cross border venture financing deals in Q3 2022: Top deals
The top five cross border venture financing deals accounted for 70.4% of the overall value during Q3 2022.
The combined value of the top five medical devices cross border venture financing deals stood at $210.08m, against the overall value of $298.3m recorded for the quarter.
The top five medical devices cross border deals of Q3 2022 tracked by GlobalData were:
1) Emerson Collective (Emmerson Collective) and KIRKBI Invest’s $100m venture financing deal with Kerecis ehf
2) The $46.94m venture financing of TRiCares by 415 Capital Management, Andera Partners, BioMedPartners, Credit Mutuel Innovation, Go Capital , Karista and Wellington Partners Venture Capital
3) AXA Venture Partners, Bpifrance Financement, Karista, LBO France and Wille Finance’s $27.03m venture financing deal with Incepto Medical
4) The $20m venture financing of Your.MD by Canica, Orkla Ventures, Reckitt Benckiser Group and Smedvig Capital
5) General Catalyst Partners, Giant Ventures Global, KHP Ventures and SpeedInvest’s $16.11m venture financing deal with Doccla