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  1. Deals Analysis
June 17, 2021

North America’s medical devices industry saw a rise of 25.00% in cross border deal activity during May 2021

North America’s medical devices industry saw a rise of 25.00% in cross border 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 20 medical devices industry cross border deals worth $2.2bn were announced for the region in May 2021, against the 12-month average of 16 deals.

Of all the deal types, venture financing saw most activity in May 2021 with 13 transactions, representing a 65% share for the region.

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In second place was M&A with five deals, followed by private equity deals with two transactions, respectively capturing a 25% and 10% share of the overall cross border deal activity for the month.

In terms of value of cross border deals, venture financing was the leading category in North America’s medical devices industry with $1.1bn, while private equity and M&A deals totalled $1.07bn and $55.9m, respectively.

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

The top five medical devices cross border deals accounted for 82.1% of the overall value during May 2021.

The combined value of the top five medical devices cross border deals stood at $1.83bn, against the overall value of $2.2bn recorded for the month.

The top five medical devices industry cross border 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 $540m venture financing deal with Noom by Novo Holdings, Oak HC/FT Partners, RRE Ventures, Samsung Ventures Investment, Sequoia Capital Operations, Silver Lake Management and Temasek Holdings (Private)

3) ACME Capital, CAVU Venture Partners, Decheng Capital, Johnson & Johnson Innovation – JJDC, Koch Strategic Platforms, MSD Capital and Perceptive Advisors’ $235m private equity deal with Cue Health

4) The $110m venture financing of Vida Health by AME Cloud Ventures, Ardea Partners, Aspect Ventures, AXA Venture Partners, Canvas Ventures, Centene, General Atlantic, NGP Capital and Workday Ventures

5) Amgen Ventures, Baillie Gifford, Canepa Healthcare, Dave Baszucki, Fearless Ventures, Jazz Venture Partners, Ladera Venture Partners, M Ventures, Mirae Asset Securities, Neuberger Berman Group, New Leaf Venture Partners, Omidyar Technology Ventures, Polaris Partners, Quad Investment Management, ShionogiLtd and Temasek Holdings (Private)’s venture financing of Akili Interactive Labs for $110m.

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