Article preview from IN VIVO - December, 2011
Medical device companies raised a total of $906 million in Q3, while in vitro diagnostic/research developers took in $72 million. The top M&As in each segment were private buyouts of public companies: Kinetic Concepts for $6.3 billion and Immucor for $1.9 billion.
Article preview from IN VIVO - December, 2011
The medical device community raised $906 million in the third quarter of 2011 , a 47% slump from the second quarter’s $1.7 billion, which had featured several debt offerings – each over $100 million. But Q3 had its share of large financings, too, particularly from venture rounds that equated to 83% of the total.
Similarly early-stage venture rounds were abundant with a specific round of financing – the Series B. Half of the 16 deals – and $152 million of the $220 million total – were second rounds, and leading the pack was Nevro Corp., which collected $58 million in funding led by Johnson & Johnson Development Corp. Nevro is conducting a US clinical study of its Senza spinal cord stimulator for chronic pain. In all, neurology device-focused companies did very well in the third quarter across all financing types, collectively raising close to $200 million, including a $49 million late-stage round from NeuroPace Inc., which is developing neurostimulators for epilepsy.
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