North America’s medical devices industry sees a drop of 40.3% in deal activity in February 2019

26 March 2019 (Last Updated March 27th, 2019 15:39)

North America’s medical devices industry sees a drop of 40.3% in deal activity in February 2019

North America’s medical devices industry saw a drop of 40.3% in deal activity during February 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 43 medical devices industry deals worth $6.15bn were announced for the region in February 2019, against the 12-month average of 72 deals.

Of all the deal types, venture financing saw most activity in February 2019 with 33 transactions, representing a 76.7% share for the region.

In second place was M&A with nine deals, followed by private equity deals with one transactions, respectively capturing a 20.9% and 2.3% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in North America’s medical devices industry with $5.85bn, while venture financing deals totalled $300.21m.

North America medical devices industry deals in February 2019: Top deals

The top five medical devices deals accounted for 99.1% of the overall value during February 2019.

The combined value of the top five medical devices deals stood at $6.1bn, against the overall value of $6.15bn recorded for the month. The top announced medical devices deal tracked by GlobalData in February 2019 was Johnson & Johnson’s $5.75bn acquisition of Auris Health.

In second place was the $102.11m acquisition of CAS Medical Systems by Edwards Lifesciences and in third place was Kaiser Permanente Ventures, Norwest Venture Partners XII, Orbimed Advisors, Sands Capital Ventures, Sequoia Capital Operations and UPMC Enterprises’ $100m venture financing of Health Catalyst.

The $79m venture financing of Nuvaira by Advanced Technology Ventures, Endeavour Vision, LSV Capital Management, Morgenthaler Ventures, Qiming Venture Partners USA, Richard King Mellon Foundation, Split Rock Partners, USVP Management, Versant Venture Management, Vertex Venture Holdings and Windham Venture Partners and Claremont Creek Ventures, Foresite Capital Management, GV Management Co, Innovatus Capital Partners, WuXi NextCODE Genomics and TPG Biotech’s venture financing of DNAnexus for $68m held fourth and fifth positions, respectively.

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.