Cross-border transaction activity in the medical device industry in Asia-Pacific in the second quarter of 2022
Led by the $230 million acquisition of MITech, the Asia-Pacific medical device industry saw a 26.05% decline in cross-border transaction activity during the second quarter of 2022, compared to the average of the last four quarters, according to GlobalData’s transaction database.
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A total of 22 cross-border deals worth $689.9 million were announced for the region during the second quarter of 2022, compared to the last four quarters’ average of 29.75 deals.
Of all deal types, venture capital funding saw the highest activity in Q2 2022 with 13 deals, accounting for a 59.1% share for the region.
In second place were mergers and acquisitions with seven deals, followed by private equity deals with two deals, capturing a 31.8% and 9.1% share of overall cross-border deal activity, respectively, for the quarter.
In terms of the value of cross-border deals, venture capital financing was the largest medical device sector category in Asia Pacific with $251.77 million, while mergers and acquisitions and private equity deals totaled respectively $230 million and $208.13 million.
Medical Devices Cross-Border Transactions in Asia-Pacific Q2 2022: Top Deals
The top five cross-border medical device transactions accounted for an 82.5% share of overall value in Q2 2022.
The combined value of the top five cross-border deals was $569.13 million, compared to the aggregate value of $689.9 million recorded for the quarter.
1) Agreement to acquire $230 million from Boston Scientific for a 64% stake in MITech
2) Genea’s $140.13 million private equity investment by Liverpool Partners
3) Globis Capital Partners &, Incubate Fund, SoftBank Vision Fund 2 and World Innovation Lab (Wil Fund) $70M venture funding deal with AI Medical Service
4) Accumax Lab Technology’s $68 Million Private Equity by Creador Sdn and India Life Sciences Fund III
5) Alkemi Venture Partners, Chiratae Ventures, HealthQuad, LC Nueva AIF, LeapFrog Investments, Schroders and Spark Growth Ventures $61M funding deal with Redcliffe Lifetech
Verdict Agreement Analysis Methodology
This analysis only takes into account cross-border transactions announced and concluded from GlobalData’s financial transactions database and excludes all terminated and rumored transactions. The country and industry are defined based on the target company’s head office and dominant industry. The term “procurement” refers to both completed transactions and those in the process of being tendered.
GlobalData tracks real-time data on all M&A, private equity/venture capital, and asset transaction activity globally from thousands of company websites and other trusted sources.
More in-depth reports and analysis on all reported transactions are available to subscribers to GlobalData’s Transaction Database.