Last month the U.S. medtech industry experienced a 21.7% drop in deal activity compared to the previous 12 months. According to GlobalData research, there were 65 deals worth nearly $460 million last month. The 12-month deal average is 83 deals. The following are the April 2020 highlights from GlobalData:
- Venture financing led the way with transactions, with 47 deals (72.3%)
- M&A came in second with 13 deals (20%)
- Private equity took third place with 5 deals (7.7%)
The top five deals in the medical device industry comprised 43.7% of the overall transaction value in April:
- Click Diagnostics. Venture financing by Cedars-Sinai Medical Center, John Doerr and Pitango Venture Capital for $70 million.
- Dascena. Venture financing by Euclidean Capital, Frazier Healthcare Partners and Longitude Capital Management for $50 million.
- Lumitron Technologies. Venture financing by Clinton Capital Partners, Perennial Value Management, ROTH Capital Partners and Vickers Venture Partners for $34 million.
- AtaCor Medical. Venture financing by aMoon Partners, Broadview Ventures, Catalyst Health Ventures, Hatteras Venture Partners and Longview Ventures for $25 million.
- MaxCyte. Private equity deal by Casdin Capital and Sofinnova Crossover for $22.2 million.