R&D Partnerships, M&A, IPOs, Ventures – Medtech, Device, Digital Health, Wearables

R&D Partnerships, M&A, IPOs, Ventures – Medtech, Device, Digital Health, Wearables

Our data from last year shows that funding for medical devices and diagnostics witnessed a significant decline in 2023. Additionally, there’s an expected continued deceleration across industry R&D partnerships within the medtech sector. M&A activity, particularly in digital health and wearables segments, where larger firms seek to reinforce their portfolios with specialized players, has tapered off, totaling $14.21 billion. Despite the IPO inactivity, they were almost non-existent, with only two driven by innovation; the VC market is also undergoing a downturn, particularly in medtech.

R&D – Medtech, Device, Digital Health & Wearables

R&D Partnerships - MedTech, Device, Digital Health, Wearables

In 2023, our data had 33 R&D ventures in medtech. These started with an initial investment of $10 million and their combined deal value of $51 million, a decrease in the venture numbers and overall financial investment compared to 2022. In 2022, 41 partnerships entailed significant upfront cash and equity of $90.59 million, totaling $778.79 million.

Top R&D Partnership – 2023

Biogen acquires Alcyones ThecaFlex DRx System – (JANUARY – 2023)

Biogen has exclusive rights to Alcyone’s ThecaFlex DRx System, designed to deliver ASO therapies targeting neurologic diseases like SMA and ALS. The deal includes an upfront payment of $10 million to Alcyone, with potential milestone payments up to $41 million.


M&A – Medtech, Device, Digital Health & Wearables

M&A - MedTech, Device, Digital Health, Wearables

In 2023, medtech witnessed 47 M&As with upfront cash and equity of $12.72 billion & total deal worth $14.21 billion. Contrasting with 2022, there were slightly more deals at 51, with a total upfront cash and equity of $24.60 billion and a total deal value of $28.26 billion.


Medtech Top 3 M&A in – 2023

  1. Ametek acquires Paragon Medical For $1.9 Billion – (DECEMBER – 2023)

AMETEK has finalized the acquisition of Paragon Medical, valued at $1.9 billion. Paragon brings a portfolio of assets including implantable products such as bone screws, breast markers, and hip implants, as well as surgical instruments like annulotomy knives and guide wires.

  1. Globus Medical completes NuVasive acquisition – (SEPTEMBER – 2023)

Globus Medical completed the acquisition of NuVasive. The transaction includes NuVasive’s medical devices like the X360 system and C360, posterior fixation devices, and technologies such as Pulse and integrated global alignment (iGA). NuVasive stakeholders retain about 28% ownership in the merged entity, receiving $3.1 billion, equivalent to $57.72 per share.

  1. Coloplast completes acquisition of Kerecis – (AUGUST – 2023)

Coloplast has completed its acquisition of Kerecis, specializing in fish-skin grafts for wound care, including products like SurgiClose, SurgiBind, GraftGuide, MariGen, Shield Adhesive, and Primary Wound Dressing Spray. Kerecis stakeholders received $1.2 billion upfront, with potential additional payments of $100 million in milestones.


IPO – Medtech, Device, Digital Health & Wearables

IPO - MedTech, Device, Digital Health, Wearables

In 2023, medtech, devices, digital health, and wearables again showed a drop in IPOs, with only 2 companies opting to go public, raising $14 million. While the preceding year, 2022, was also at an all-time low at 3 IPOs generating $65 million.


Top Medtech IPO – 2023

Neuraxis sets IPO price at $6.00 Per Share – August 2023

NeurAxis has priced its IPO at $6.00 per share, totaling $6.6 million in expected gross proceeds. Additionally, underwriters have a 45-day option to purchase up to 164,800 additional shares. Proceeds will fund sales, marketing, R&D, executive payments, and general corporate purposes.


Ventures – Medtech, Device, Digital Health & Wearables

Ventures - MedTech, Device, Digital Health, Wearables

In 2023, the combined funding for the medtech, device, digital health, and wearables sectors amounted to $5.72 billion, raised through 258 funding rounds. Comparatively, 2022 saw a slightly higher total funding of $7.34 billion, distributed across 305 funding rounds.


Top Medtech Venture – 2023

Neuralink raises $323 million In PRE-IPO funding, valued at $3.5 billion – December 2023

Neuralink secures $323 million in a pre-IPO funding round, which includes an additional $43 million raised in November 2023, completing the Series D round. This funding boosts Neuralink’s valuation to $3.5 billion, a 66% increase from its previous round.

All of this by stage, disease indication, modality, target…

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