Article preview from IN VIVO - October, 2012
Medical device company financing brought in $977 million, a decrease over Q1’s $1.1 billion. Device acquisition activity was up to $4.6 billion, yet only one deal surpassed the billion-dollar mark. With late-stage financing again leading, diagnostics funding together brought in $336 million, an 11% increase over Q1. For the first time since Q1 2011, the diagnostics M&A dollar total moved up instead of down, with $7 billion in acquisitions and five of the seven transactions topping $100 million.
Article preview from IN VIVO - October, 2012
Although medical device companies had a strong opening in 2012 — they brought in $1.1 billion in Q1— the second quarter saw a dip in the money raised. While it is certainly a respectable amount, the $977 million that did come in was still substantially less even looking back a year ago at the same period of time, when $1.7 billion was achieved.
Compared with late-VC financings, however, early-VC deals were meek in Q2, with only 10 finalized, accounting for $136 million. The majority of these financings were also done by cardiovascular companies, including Series Bs from Silk Road Medical Inc. ($41.2 million), Aptus Endosystems Inc. ($25 million) , and AliveCor Inc. ($10.5 million) , and one Series A by Ablative Solutions Inc. ($5.3 million).
The three companies that completed IPOs in Q2 did so on ex-US exchanges, in keeping with last quarter’s trend. Both neonatal medical equipment manufacturer Ningbo David Medical Device Co. Ltd. (netted $58 million) and spinal surgery device maker Shanghai Kinetic Medical Co. Ltd. (raised $51.5 million) debuted on the Shenzhen Stock Exchange’s ChiNext board market , and fellow spine company Vexim SAS brought in $14.5 million via its IPO on the NYSE Alternext in Paris. The last time a device IPO was finalized on a US exchange was in December 2011, when Lucid (now Caliber Imaging & Diagnostics Inc.) raised $5.45 million. Purchase this article online as a PDF and receive it immediately via email. Questions? Call (800) 332-2181. 100% Satisfaction Guaranteed. Plus: To find out about more about more about Elsevier Business Intelligence's medical device publications and databases, multi-user access and/or advertising with Medical Devices Today, please contact Kristy Kennedy at (480) 985-9512
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