US medical devices industry sees a drop of 9.9% in deal activity in July 2020

3 September 2020 (Last Updated September 7th, 2020 07:32)
US medical devices industry sees a drop of 9.9% in deal activity in July 2020

The US medical devices industry saw a drop of 9.9% in overall deal activity during July 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 73 deals worth $2.96bn were announced in July 2020, compared to the 12-month average of 81 deals.

Venture financing was the leading category in the month in terms of volume with 51 deals which accounted for 69.9% of all deals.

In second place was M&A with 14 deals, followed by private equity with eight transactions, respectively accounting for 19.2% and 11% of overall deal activity in the country’s medical devices industry during the month.

In terms of value of deals, M&A was the leading deal category in the US medical devices industry with total deals worth $1.43bn, while venture financing and private equity deals totalled $1.2bn and $335m, respectively.

US medical devices industry deals in July 2020: Top deals

The top five medical devices industry deals accounted for 61.9% of the overall value during July 2020.

The combined value of the top five medical devices deals stood at $1.83bn, against the overall value of $2.96bn recorded for the month.

The top five medical devices industry deals of July 2020 tracked by GlobalData were:

1) The merger of Healthcare Merger and SOC Telemed for $720m

2) The $525m asset transaction with DXC Technology by Dedalus

3) Bain Capital Life Sciences, Brown Advisory, Casdin Capital, Driehaus Capital Management, Intermountain Ventures, Janus Henderson Investors, Lux Capital, Moore Strategic Ventures, Perceptive Advisors, Rock Springs Capital Management, Sands Capital Management, Section 32 and T Rowe Price Associates’ $257m venture financing of Thrive Earlier Detection

4) The $190m private equity deal with AdaptHealth by One Equity Partners

5) R1 RCM’s asset transaction with Sarnova for $140m.

Verdict deals analysis methodology

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.