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  1. Deals Analysis
June 22, 2021

North America’s medical devices industry saw a drop of 2.20% in deal activity during May 2021

North America’s medical devices industry saw a drop of 2.20% in deal activity during May 2021, when compared with the last 12-month average, led by L.P, Canada Pension Plan Investment Board, ClearBridge Investments, Coatue Management, Columbia Threadneedle Investments, Eaton Vance, Fidelity Management & Research, First Light Asset Management, Highland Capital Management, Millennium Management, Orbimed Advisors, Pura Vida Investments, Rock Springs Capital Management, Silver Lake Management, T Rowe Price Associates, TPG Sixth Street Partners and Tudor Investment’s $830m acquisition of Caris Life Sciences, according to GlobalData’s deals database.

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A total of 89 medical devices industry deals worth $4.6bn were announced for the region in May 2021, against the 12-month average of 91 deals.

Of all the deal types, venture financing saw most activity in May 2021 with 59 transactions, representing a 66.3% share for the region.

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In second place was M&A with 21 deals, followed by private equity deals with nine transactions, respectively capturing a 23.6% and 10.1% share of the overall deal activity for the month.

In terms of value of deals, venture financing was the leading category in North America’s medical devices industry with $1.92bn, while private equity and M&A deals totalled $1.51bn and $1.18bn, respectively.

North America medical devices industry deals in May 2021: Top deals

The top five medical devices deals accounted for 52.5% of the overall value during May 2021.

The combined value of the top five medical devices deals stood at $2.42bn, against the overall value of $4.6bn recorded for the month.

The top five medical devices industry deals of May 2021 tracked by GlobalData were:

1) L.P, Canada Pension Plan Investment Board, ClearBridge Investments, Coatue Management, Columbia Threadneedle Investments, Eaton Vance, Fidelity Management & Research, First Light Asset Management, Highland Capital Management, Millennium Management, Orbimed Advisors, Pura Vida Investments, Rock Springs Capital Management, Silver Lake Management, T Rowe Price Associates, TPG Sixth Street Partners and Tudor Investment’s $830m private equity deal with Caris Life Sciences

2) The $550m acquisition deal with Soliton by Allergan Aesthetics

3) Novo Holdings, Oak HC/FT Partners, RRE Ventures, Samsung Ventures Investment, Sequoia Capital Operations, Silver Lake Management and Temasek Holdings (Private)’s $540m venture financing of Noom

4) The $260m acquisition of Nexcelom Bioscience by PerkinElmer

5) Dubilier & Rice, Clayton, Marathon Asset Management and Northwestern Mutual Capital’s private equity deal with Healogics for $240m.

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