Medtech companies brought in $2.3 billion in financing in Q1 2017, a slight decrease from Q4 2016; device M&A deals totaled $5.8 billion, a sharp decline from the prior quarter, but there were some billion-dollar deals. Q1 diagnostics financings – totaling $1.2 billion (thanks to a $900 million Series B round by cancer diagnostics company Grail) – showed a significant increase over the preceding quarter, as did the Q1 M&As at $700 million versus the previous $87 million.

Among the medtech companies who have released their first-quarter 2017 sales and earnings, Johnson & Johnson and Merit Medical Systems reported progress in their long-term plans to reshape their medical device businesses, while Abbott and Zimmer Biomet received some bad news in the quarter. Smith & Nephew shows signs of a turnaround, and perennial "winner" Edwards Lifesciences provided updates on some important developments in their flagship transcatheter valve business.

Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced in February 2017.

Fecal incontinence is a common, devastating condition that often goes untreated. Eyeing the potential multibillion-dollar opportunity, medtech start-ups are developing approaches that range from small and disposable to surgical and permanent.