US medical devices industry saw a drop of 19.44% in overall deal activity during October 2022, when compared with the last 12-month average, led by Ares Management’s $275m private equity deal with Tempus Labs, according to GlobalData’s deals database.

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A total of 87 deals worth $935.9m were announced in October 2022, compared with the 12-month average of 108 deals.

venture financing was the leading category in the month in terms of volume with 61 deals, which accounted for 70.1% of all deals.

In second place was M&A with 22 deals, followed by private equity with four transactions, respectively accounting for 25.3% and 4.6% of overall deal activity in the US technology 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 $527.35m, while private equity and M&A deals totalled $375m and $33.5m respectively.

US medical devices industry deals in October 2022: Top deals

The top five medical devices industry deals accounted for 56.1% of the overall value during October 2022.

The combined value of the top five medical devices deals stood at $525m, against the overall value of $935.9m recorded for the month.

The top five medical devices industry deals of October 2022 tracked by GlobalData were:

1) Ares Management’s $275m private equity deal with Tempus Labs

2) The $100m private equity of Think Surgical by KDB Investment

3) Anne Wojcicki, Cindy Crawford, Eric Schmidt, Felicis Ventures, Rande Gerber, Timothy A. Springer and Tony Fadell’s $70m venture financing deal with Prenuvo

4) The $40m venture financing of Radiomedix by Portland Investment Counsel

5) Deerfield Management Co and Foresite Capital Management’s $40m venture financing deal with Pleno