Finland’s contributions to medtech are often less recognized than those of its Nordic cousins, Sweden and Denmark. But the country has produced its fair share of industry firsts and while in vitro diagnostics is a particular stronghold of Finland, its medical device innovators are no laggards, according to Medtech Insight’s sister publication, Clinica.

Bristol-Myers’ and AstraZeneca’s deal to acquire Amylin Pharmaceuticals for $7 billion, announced June 29, reaffirms the partners’ commitment to the vast and growing type 2 diabetes market, even if the competition is intense and the companies’ five-year-old alliance got off to a rocky start.

After dropping markedly for two consecutive years, both the number of acquisitions in medical devices and the total dollar volume of those deals jumped significantly in 2003, reaching 71 and $9.17 billion, respectively. And if the dollar volumes and number of deals in 2003 weren't good news enough, an analysis of some of the trends behind the deal-making should give device executives even more cause to be happy. Thus, while a significant number of the total deals do fall within only two clinical categories, cardiovascular and orthopedics, the larger picture shows an M&A climate that is quite diversified. Similarly, the perception that deal-making is concentrated in the hands of a small group of large companies isn't borne out by the data. That said, new technology trends, most notably the convergence of drugs and devices, and new deal structures suggest, at least anecdotally, that device M&A may be changing.

After dropping markedly for two consecutive years, both the number of acquisitions in medical devices and the total dollar volume of those deals jumped significantly in 2003, according to information from Windhover Information's Strategic Transactions Database of industry transactions.