North America’s medical devices industry saw a drop of 27.27% in cross border deal activity in Q3 2022

Led by SD Biosensor and SJL Partners’s $1.54bn private equity deal with Meridian Bioscience, North America’s medical devices industry saw a drop of 27.27% in cross border deal activity during Q3 2022, when compared to the last four-quarter average, according to GlobalData’s deals database.

A total of 52 cross border deals worth $3.2bn were announced for the region during Q3 2022, against the last four-quarter average of 71.50 deals.

Of all the deal types, venture financing saw most activity in Q3 2022 with 34 deals, representing a 65.4% share for the region.

In second place was M&A with 14 deals, followed by private equity deals with four transactions, respectively capturing a 26.9% and 7.7% share of the overall cross border deal activity for the quarter.

In terms of value of cross border deals, private equity was the leading category in North America’s medical devices industry with $1.6bn, while venture financing and M&A deals totalled $1.14bn and $433.82m, respectively.

North America medical devices industry cross border deals in Q3 2022: Top deals

The top five medical devices cross border deals accounted for a 69.4% share of the overall value during Q3 2022.

The combined value of the top five cross border deals stood at $2.2bn, against the overall value of $3.2bn recorded for the quarter.

1) SD Biosensor and SJL Partners’s $1.54bn private equity deal with Meridian Bioscience

2) The $223m venture financing of Cleerly by Breyer Capital, Cigna Ventures, DigiTx Partners, Fidelity Management & Research, Heartland Healthcare Capital, LRVHealth, Mirae Asset Capital, New Leaf Ventures, Novartis, Peter Thiel, Piper Sandler Merchant Banking, Sands Capital Management, T Rowe Price Associates, T. Rowe Price Investment Management and Vensana Capital

3) The $176m merger deal with NewSight Imaging and Vision Sensing Acquisition

4) The $154.02m acquisition of IZI Medical Products by Halma

5) Medtronic, Perceptive Advisors, RTW Investments, SternAegis Ventures and Terumo’s $110m venture financing deal with Orchestra BioMed