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  1. Deals Analysis
May 5, 2021

Middle East and Africa’s medical devices industry saw a rise of 52.94% in deal activity in Q1 2021

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.

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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

3) Insight Partners, Olive Tree Ventures, Qualcomm Ventures, Qumra Capital, Shenzhen Capital Group and Tiger Global Management’s $50m venture financing of TytoCare

4) The $38m venture financing deal with Ibex Medical Analytics by 83North Venture Capital, aMoon Partners, Dell Technologies Capital, Octopus Ventures and Planven Entrepreneur Ventures

5) DarioHealth’s acquisition of Upright Technologies for $31m.

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