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  1. Deals Analysis
April 28, 2021

Medical Devices industry venture financing deals total $1.3bn in North America in March 2021

Total medical devices industry venture financing deals worth $1.3bn were announced in North America in March 2021, led by $125m venture financing of Paige.AI, according to GlobalData’s deals database.

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The value marked an increase of 55.7% over the previous month of $835.16m and a rise of 53% when compared with the last 12-month average of $849.67m.

North America held a 71.43% share of the global medical devices industry venture financing deal value that totalled $1.82bn in March 2021. With a 67.03% share and deals worth $1.22bn, the US was the top country in North America’s venture financing deal value across medical devices industry.

In terms of venture financing deal activity, North America recorded 64 deals during March 2021, marking an increase of 20.75% over the previous month and a rise of 12.28% over the 12-month average. The US recorded 60 deals during the month.

North America medical devices industry venture financing deals in March 2021: Top deals

The top five medical devices industry venture financing deals accounted for 35.1% of the overall value during March 2021.

The combined value of the top five medical devices venture financing deals stood at $457m, against the overall value of $1.3bn recorded for the month.

The top five medical devices industry venture financing deals of March 2021 tracked by GlobalData were:

1) Casdin Capital, Catalio Capital Management, Johnson & Johnson Innovation – JJDC and KKRInc’s $125m venture financing of Paige.AI

2) The $102m venture financing of Inflammatix by D1 Capital Partners, Khosla Ventures, Northpond Ventures, OSF Ventures and Think.Health(Think.Health Ventures)

3) Alumni Ventures Group, aMoon Partners, Echo Health Ventures, Khosla Ventures and Northpond Ventures’ $82m venture financing of Scipher Medicine

4) The $75m venture financing of SiXlayer by Anne Wojcicki, Bobby Yazdani, Dara Khosrowshahi, General Catalyst Partners, Hamid Moghadam, Pear Ventures and Zeshan Muhammedi

5) Deerfield ManagementLP, ION Crossover Partners and Omega Capital Partners’ venture financing of HAPPIFY HEALTH for $73m.

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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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