Abbott Laboratories moved above Medtronic in MAT medtech revenues, while Philips Healthcare and Stryker finished 2022 with strong quarters, and Roche dropped a few places.

During Q4, biopharma merger and acquisition value reached $35.7bn and drew in $62.1bn in potential deal value from alliances. Device company M&A values reached $19.2bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $4.8bn.

Private Company Edition: In recent weeks, 19 companies disclosed venture capital funding of $20m or more, including FogPharma with a $178m series D round and Apogee’s $169m launch. Also, Avalon BioVentures spun out of Avalon Ventures with a $135m fund.

Medtech Insight followed-up with Cordis CEO Shar Matin to talk about the company’s path forward as an innovative intervention company following the acquisition of MedAlliance.