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  1. Deals Analysis
June 28, 2021

US medical devices industry sees a rise of 2.35% in deal activity in May 2021

US medical devices industry saw a rise of 2.35% in overall 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 private equity deal with Caris Life Sciences, according to GlobalData’s deals database.

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A total of 87 deals worth $4.6bn were announced in May 2021, compared with the 12-month average of 85 deals.

venture financing was the leading category in the month in terms of volume with 59 deals, which accounted for 67.8% of all deals.

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In second place was M&A with 20 deals, followed by private equity with eight transactions, respectively accounting for 23% and 9.2% 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 $1.92bn, while private equity and M&A deals totalled $1.51bn and $1.15bn respectively.

US medical devices industry deals in May 2021: Top deals

The top five medical devices industry deals accounted for 52.9% of the overall value during May 2021.

The combined value of the top five medical devices deals stood at $2.42bn, against the overall value of $4.6bn recorded for the month.

The top five medical devices industry 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 $550m acquisition of Soliton by Allergan Aesthetics

3) Novo Holdings, Oak HC/FT Partners, RRE Ventures, Samsung Ventures Investment, Sequoia Capital Operations, Silver Lake Management and Temasek Holdings (Private)’s $540m venture financing of Noom

4) The $260m acquisition deal with Nexcelom Bioscience by PerkinElmer

5) Dubilier & Rice, Clayton, Marathon Asset Management and Northwestern Mutual Capital’s private equity with Healogics for $240m.

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