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.
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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.
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By GlobalDataIn 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
