US medical devices cross border deals in Q1 2021: Deals Analysis
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US medical devices sees a rise of 21.05% in cross border deal activity in Q1 2021

06 May 2021 (Last Updated May 6th, 2021 18:22)

Led by $635m acquisition of Capsule Technologies, the US medical devices industry saw a rise of 21.05% in overall cross border deal activity during Q1 2021, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 46 cross border deals worth $1.84bn were announced in Q1 2021, compared with the last four-quarter average of 38.00 deals.

venture financing was the leading category in the quarter with 25 cross border deals which accounted for 54.4% of all deals.

In second place was M&A with 17 deals, followed by private equity with four transactions, respectively accounting for 37% and 8.7% of overall cross border deal activity in the US medical devices industry during the quarter.

In terms of value of cross border deals, M&A was the leading deal category in the US medical devices industry with total deals worth $977.63m, while venture financing and private equity deals totalled $626.67m and $239.67m, respectively.

US medical devices industry cross border deals in Q1 2021: Top deals

The top five medical devices industry cross border deals accounted for 61.2% of the overall value during Q1 2021.

The combined value of the top five medical devices cross border deals stood at $1.13bn, against the overall value of $1.84bn recorded for the quarter.

The top five medical devices industry cross border deals of Q1 2021 tracked by GlobalData were:

1) Koninklijke Philips’ $635m acquisition of Capsule Technologies

2) The $240m acquisition of Alydia Health by Organon

3) Altium Capital, Axiom Associates, Colle Capital Partners, GV Management Co, Huamin Investment Management and Nextrans’ $90m venture financing of Hyperfine Research

4) The $82m venture financing deal with Scipher Medicine by Alumni Ventures Group, aMoon Partners, Echo Health Ventures, Khosla Ventures and Northpond Ventures

5) Adage Capital Management, Ally Bridge Group, Asahi Kasei Medical, Bain Capital Life Sciences, BlackRock, CaaS Capital Management, D1 Capital Partners, Endeavour Vision, Longitude Capital Management Co, Quaker Partners Management, Sunley House Capital Management, T Rowe Price Associates and Xeraya Capital Sdn’s private equity with Rapid Micro Biosystems for $81m.

Verdict deals analysis methodology

This analysis considers only announced and completed cross border 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.