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Medtech deals surge in North America

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Medtech deals surge in North America

North American medtech investment activity appears to be in good health, with a surge of cross-border deals.

The value of North America medical devices industry cross border venture financing deals totalled US$2.5bn in Q2 2021, new figures show.

Led by US$540m venture financing of Noom, total medical devices industry cross border venture financing deals worth US$2.5bn were announced in North America in Q2 2021, according to GlobalData.

The value marked an increase of 253.6 per cent over the previous quarter and a rise of 225.8 per cent when compared with the last four-quarter average of US$776.67m.

North America held a 53.83 per cent share of the global medical devices industry cross border venture financing deal value that totalled US$4.7bn in Q2 2021.

With a 53.40 per cent share and deals worth US$2.51bn, the US was the top country in North America’s cross border venture financing deal value across medical devices industry.

In terms of deal activity, North America recorded 41 cross border deals during Q2 2021, marking an increase of 32.26 per cent over the previous quarter and a rise of 59.22 per cent over the last four-quarter average. The US recorded 39 deals during the month.

The top five medical devices cross border deals of Q2 2021 were:

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

2) The US$276m venture financing of Element Biosciences by Counterpoint Global, Janus Henderson Investors, Logos Global Management, Meritech Capital Partners and T Rowe Price Associates

3) B Capital Group Management, Baidu Ventures, Bold Capital Partners, CITIC Industrial Investment Fund Management, Deerfield ManagementLP, Eight Roads Ventures, Formic Ventures, Lake Bleu Capital, Lilly Asia ventures, Maison Capital Group, Mirae Asset Capital, Orbimed Advisors, Pavilion Capital Partners, President International Development, Qiming Venture Partners, Sage Partners, Sequoia Capital China, Sinovation Ventures and Warburg Pincus’ US$255m venture financing of InSilico Medicine

4) The $150m venture financing of EDDA Technology by 3W Partners, Orbimed Advisors and SoftBank Vision Fund II

5) Baillie Gifford, Fidelity Management & Research and Koch Disruptive Technologies’ venture financing of Shine Medical Technologies for US$150m.

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