The total value of medical devicemaker merger and acquisition deals announced in the first half of 2020 was about $16 billion, a figure much lower than average, according to EvaluatePharma's "Pharma, Biotech & Medtech Half-Year Review 2020."
The value of the deals that closed in the first half of the year was less than $2 billion, and the pandemic seems to have made it harder for medical device companies to close deals, according to EvaluatePharma.
The average size of completed mergers was lower than any point in the last decade, with a mean acquisition size of $108 million.
A resurgence of large M&A deals in the medical device industry will depend on the risk of a major second wave of COVID-19 as well as economic factors such as the availability of cheap credit, according to EvaluatePharma. If major lockdown measures are eased in the second half of the year, M&A activity is likely to pick up.
The top 5 deals announced in the first half of 2020:
- Thermo Fisher Scientific's acquisition of Qiagen — $12.5 billion
- Invitae's acquisition of Archer DX — $1.4 billion
- Teladoc Health's acquisition of Intouch Health — $600 million
- Montagu Private Equity's acquisition of OEM business of RTI Surgical — $490 million
- Align Technology's acquisition of Exocad — $420 million
The top 5 deals closed in the first half of 2020:
- Laborie Medical Technologies' acquisition of Clinical Innovations — $525 million
- Align Technology's acquisition of Exocad — $420 million
- Baxter International's acquisition of Sepra Products business of Sanofi — $350 million
- Anika Therapeutics' acquisition of Arthrosurface — $100 million
- Anika Therapeutics' acquisition of Parcus Medical — $95 million