Zoll Medical’s $538m acquisition deal with Itamar Medical was the medical devices industry’s biggest internet of things deal of Q3 2021 as internet of things deals worth $1.1bn were announced globally in the quarter, according to GlobalData’s deals database.

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The value marked an increase of 25.2% over the previous quarter and a rise of 96.6% when compared with the last four-quarter average of $549.34m.

In terms of number of internet of things deals, the sector saw a rise of 17.07% with 24 deals in Q3 2021 against the average of 20.50 deals in the last four-quarters.

In value terms, North America led the activity with internet of things deals worth $549.7m.

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medical devices industry internet of things deals in Q3 2021: Top deals

The top five medical devices industry internet of things deals accounted for 88.5% of the overall value during Q3 2021.

The combined value of the top five internet of things deals stood at $953m, against the overall value of $1.1bn recorded for the quarter.

The top five medical devices industry internet of things deals of Q3 2021 tracked by GlobalData were:

1) Zoll Medical $538m acquisition deal with Itamar Medical

2) The $315m acquisition of VRI Intermediate Holdings by ModivCare

3) Bold Capital Partners,FMZ Ventures,Freestyle Capital,Industry Ventures,JPMorgan Chase and Leksell Social Ventures $38m venture financing deal with Meru Health

4) The $37m venture financing of NovaSignal by Alpha Edison and Reimagined Ventures

5) Advantage Capital,Morningside Ventures and Werth Family Investment Associates $25m venture financing deal with MedRhythms