Led by $1.07bn asset transaction with Lumenis, Middle East and Africa’s medical devices industry saw a rise of 52.94% in deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.
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A total of 26 deals worth $1.42bn were announced for the region during Q1 2021, against the last four-quarter average of 17.00 deals.
Of all the deal types, venture financing saw most activity in Q1 2021 with 17 deals, representing a 65.4% share for the region.
In second place was M&A with five deals, followed by private equity deals with four transactions, respectively capturing a 19.2% and 15.4% share of the overall deal activity for the quarter.
In terms of value of deals, M&A was the leading category in Middle East and Africa’s medical devices industry with $1.13bn, while venture financing and private equity deals totalled $197.5m and $88.4m, respectively.
Middle East and Africa medical devices industry deals in Q1 2021: Top deals
The top five medical devices deals accounted for an 88.9% share of the overall value during Q1 2021.
The combined value of the top five deals stood at $1.26bn, against the overall value of $1.42bn recorded for the quarter.
The top five medical devices industry deals of Q1 2021 tracked by GlobalData were:
1) Boston Scientific ’s $1.07bn asset transaction with Lumenis
2) The $70m private equity deal with DarioHealth by Driehaus Capital Management , Farallon Capital Management , More Provident Funds , Nantahala Capital Management, Perceptive Advisors , Phoenix Insurance and Pura Vida Investments
5) DarioHealth’s acquisition of Upright Technologies for $31m.