START-UP's monthly comprehensive review of emerging life science companies that have received venture funding during the month, including companies in in vitro diagnostics, medical devices, pharmaceuticals, and research/analytical equipment & supplies.

A roundup of recent medtech mergers & acquisitions, strategic alliances, and financings.

Highlights from the Q1 2009 review of medical device and in vitro diagnostics/research dealmaking. Device financing activity remained down bringing in only $522 million--the majority invested through VCs, mostly via late-stage venture rounds--not much change from the previous quarter, but a significant drop from Q1 2008, which saw $920 million. Device M&A brought in $4.4 billion, double the previous quarter, but most of Q1's money came from Abbott's $2.86 billion purchase of Advanced Medical Optics. Four other transactions topped the $200 million mark, including three deals by device giant Medtronic, which grabbed cardio companies CoreValve, Ventor Technologies, and Ablation Frontiers. There was also a decline in in vitro diagnostics and research fund-raising with 2009's opening quarter only seeing about half the dollars of Q4 2008.