Medical Device and In Vitro Diagnostics/Research Deals Statistics Quarterly, Q2 2011
During the second quarter of 2011, 57 medical device companies brought in a total of $1.7 billion in financings. The M&A activity reached $28.8 billion, unusually high due to Johnson & Johnson's $21.7 billion takeover of orthopedic device maker Synthes. VC funding represented $76 million or 43% of the second quarter's in vitro diagnostics/research financing aggregate of $177 million. A hefty $4.1 billion was spent on 11 in vitro diagnostic/research M&A transactions, the largest being Thermo Fisher's $3.5 billion buy of Swedish genetics testing firm Phadia AB.
You may also be interested in...
The early biotech industry thrived on a combination of hope and hype while diagnostics, which evolved using many of the same tools, was traditionally viewed -- and priced -- almost as a commodity. Now we're seeing the advent of complex, high-value diagnostics. As the techniques underlying tests increase in their biological complexity and the knowledge base of their developers about specific disease areas deepens, is the value proposition becoming more biotech-like?
Patent foramen ovale can be a contributing factor for stroke, chronic migraine, decompression sickness and obstructive sleep apnea. SeptRx Inc.'s percutaneous device for treating PFO is unique in that it mirrors the anatomy of the flat tunnel of tissue that characterizes PFO. Not only is the device itself flat, but its frame laterally stretches the tunnel to keep it flat and bring the tissue surfaces in contact.
Dentsply will roughly double its dental implant business through its purchase of Astra Tech from drug firm AstraZeneca in a $1.8 billion deal announced June 22.