US medical devices industry sees a drop of 13.9% in deal activity in October 2019

14 November 2019 (Last Updated November 14th, 2019 09:21)

US medical devices industry sees a drop of 13.9% in deal activity in October 2019

The US medical devices industry saw a drop of 13.9% in overall deal activity during October 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 68 deals worth $483.74m were announced in October 2019, compared to the 12-month average of 79 deals.

Venture financing was the leading category in the month in terms of volume with 50 deals which accounted for 73.5% of all deals.

In second place was M&A with 13 deals, followed by private equity with five transactions, respectively accounting for 19.1% and 7.4% of overall deal activity in the country’s medical devices industry during the month.

In terms of value of deals, venture financing was the leading deal category in the US medical devices industry with total deals worth $400.74m, while M&A and private equity deals totalled $63m and $20m, respectively.

US medical devices industry deals in October 2019: Top deals

The top five medical devices industry deals accounted for 40.7% of the overall value during October 2019.

The combined value of the top five medical devices deals stood at $197m, against the overall value of $483.74m recorded for the month.

The top five medical devices industry deals of October 2019 tracked by GlobalData were:

1) Oaktree Capital Management’s $50m private equity deal with Shine Medical Technologies

2) The $50m venture financing of Viz.ai by Charles River Ventures, Greenoaks Capital Management, GV Management, Kleiner Perkins Caufield & Byers and Threshold Ventures

3) Flying L Partners, KKR and Petrichor Healthcare Capital Management’s $37m venture financing of CorneaGen

4) The $33m venture financing of ShiraTronics by Amzak Health, Aperture Venture Partners, LivaNova, Strategic Healthcare Investment Partners and USVP Management

5) ARUP Laboratories, ATW Partners, Health Catalyst Capital Management, Inova Health System, RTI International and SJF Ventures’ venture financing of PierianDx for $27m.

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.