The healthcare industry saw 252 merger and acquisition deals in August despite the COVID-19 surge, Bloomberg Law reported Sept. 29.
This brings the monthly average for the year up to 243 deals, a large increase from 2020's average of 161.
The total number of transactions for the year is expected to top 3,000, which would make it a record-setting year.
The top five sectors with the most transactions in August were:
- Life science and pharmaceutical with 53
- Healthcare IT and software with 36
- Medical device and supplies with 29
- Cannabis with 28
- Physician practices and services with 24
However, the recent COVID-19 surge could present some short-term challenges, said Larry Kocot, principal and national leader of the Center for Healthcare Regulatory Insight at KPMG.
"The country remains well short of ambitious COVID-19 vaccination rate targets, and some parts of the country are experiencing the worst pandemic conditions in over six months," he said.