Medtech companies brought in $1.5 billion in Q2 2016, 15% less than Q1, with debt offerings accounting for more than half the total; acquisitions more than doubled due to Abbott's $25 billion takeover of St. Jude Medical. Diagnostics financings were down 34% from Q1 and acquisition volume, also lower, was mainly Thermo Fisher Scientific's $4.2 billion buy of FEI.

Biogen signed a $2bn deal with UPenn focused on gene therapy; Thermo Fisher made its second major acquisition this year, paying over $4bn for FEI. Early-stage venture funding and FOPOs made up more than half of the month's total $1.6bn in biopharma financing, and big debt offerings from Wright Medical and Teleflex dominated device financing.