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Medical Device and In Vitro Diagnostics/Research Deal Statistics Quarterly, Q1 2010

Executive Summary

Highlights from the Q1 2010 review of medical device and in vitro diagnostics/research dealmaking: Medical device financings raised $609 million, the lowest since 2009's opening quarter brought in $521 million. More than half of Q1's total dollars came from VC funding with late-stage rounds garning the most. The largest financing was Mindray Medical's $151 million follow-on offering. Seven private companies involved with biomaterials companies were heavy hitters, together accounting for 14% of Q1 2010's financing dollars. There wasn't much M&A activity with just 10 deals pulling in $1.4 billion, the lowest quarter since Q2 2009's $794 million take, however, four transactions did top the $100 million mark. Financing for the in vitro diagnostics/research segment was also disappointing: only $144 million was raised, less than half of what these industries pulled in during Q4 2009 and was way down from 2009's $522 million opening quarter. Conversely, M&A activity was up. Even without counting Merck KGAA's massive $7 billion-plus takeover of research tools company Millipore Corp., the aggregate of the quarter's seven other M&A's ($729 million) still well exceeded that of the closing quarter of 2009, thanks to multiple deals reaching $100 million or more.

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