US medical devices industry sees a rise of 7.14% in deal activity in March 2021

US medical devices industry saw a rise of 7.14% in overall deal activity during March 2021, when compared with the last 12-month average, led by Hellman & Friedman’s $1bn private equity deal with Cardinal Health, according to GlobalData’s deals database.

 

A total of 90 deals worth $4.63bn were announced in March 2021, compared with the 12-month average of 84 deals.

venture financing was the leading category in the month in terms of volume with 60 deals, which accounted for 66.7% of all deals.

In second place was M&A with 23 deals, followed by private equity with seven transactions, respectively accounting for 25.6% and 7.8% of overall deal activity in the US technology 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 $2.23bn, while venture financing and private equity deals totalled $1.22bn and $1.18bn respectively.

US medical devices industry deals in March 2021: Top deals

The top five medical devices industry deals accounted for 58.9% of the overall value during March 2021.

The combined value of the top five medical devices deals stood at $2.73bn, against the overall value of $4.63bn recorded for the month.

The top five medical devices industry deals of March 2021 tracked by GlobalData were:

1) Hellman & Friedman’s $1bn private equity deal with Cardinal Health

2) The $695m acquisition of Resolution Bioscience by Agilent Technologies

3) Agiliti’s $475m acquisition of Northfield Medical

4) The $320m acquisition deal with Asuragen by Bio Techne

5) Organon &’s acquisition of Alydia Health for $240m.