Latest From Invitae Corp.
Third-quarter device financing at $2.38 billion – almost half of that amount from CooperSurgical's $1.1 billion bridge loan – was double the Q2 total, while device acquisitions showed a steep decrease at $3.38 billion versus Q2's $33.4 billion. Diagnostics fundraising also was up in the third quarter, reaching $2.4 billion (a 133% increase over Q2) mostly from Thermo Fisher Scientific's $1.5 billion follow-on offering, which accounted for 63% of the total. In line with the previous quarter's $1.7 billion in M&A, Q3 diagnostics acquisitions had an aggregate value of $1.8 billion, led by Konica Minolta's $1 billion buy of Ambry Genetics.
Marc Jones is taking on the dual role of chief operating officer and chief financial officer at UK point-of-care diagnostics firm Atlas Genetics.
M&A activity tumbled in November after October's big boom. Nine deals were recorded on Medtech Insight's M&A Deal Tracker, repeating the low deal count seen in the same period last year. However, the month saw a handful of notable deals, including Philips' eighth acquisition of the year.
The summer season is proving to be a hot one for medtech M&A activity, with another busy month of deal-making in July. Twenty-five deals were announced and closed during the month, surpassing June's deal count and making it the month with the highest M&A activity to date.
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