US medical devices industry sees a drop of 39.02% in deal activity in November 2020

21 December 2020 (Last Updated December 21st, 2020 04:03)

US medical devices industry sees a drop of 39.02% in deal activity in November 2020

The US medical devices industry saw a drop of 39.02% in overall deal activity during November 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 50 deals worth $2.38bn were announced in November 2020, compared to the 12-month average of 82 deals.

Venture financing was the leading category in the month in terms of volume with 31 deals which accounted for 62% of all deals.

In second place was M&A with 16 deals, followed by private equity with three transactions, respectively accounting for 32% and 6% 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 $1.66bn, followed by venture financing deals totalled $717.85m.

US medical devices industry deals in November 2020: Top deals

The top five medical devices industry deals accounted for 81.04% of the overall value during November 2020.

The combined value of the top five medical devices deals stood at $1.93bn, against the overall value of $2.38bn recorded for the month.

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

1) Longview Acquisition’s $1.5bn acquisition of Butterfly Network

2) The $145m acquisition of Nine Continents Medical by Coloplast

3) Hillhouse Capital Group, LYFE Capital, Orbimed Advisors and RA Capital Management’s $120m venture financing of Cytek Biosciences

4) The $100m venture financing of Carbon Health Medical Group by Brookfield Technology Partners II, Builders VC, DCVC Management Co and Dragoneer Investment Group

5) 3M Ventures, ARTIS Ventures, DigiTx Partners, Highland Capital Partners, NTT Venture Capital and Questa Capital Management’s venture financing of Eko Devices for $65m.

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.