Med-tech companies raised $8.65 billion in the first five months of the year, a decrease of 34.9% from the $13.29 billion raised in the same time frame last year. The number of deals is down 33.04% from last year, from 230 to 154.
Med-tech has seen significant deal value growth during the first four months of 2023, despite a decline in the number of deals. In contrast, the value of mergers and acquisitions has experienced a notable downturn.
Despite a strong 2022 for both med-tech deals and M&As, the industry lost ground with both types of transactions in the first quarter of 2023, with deal values falling 32% and M&A values dropping 83%, in comparison with the first quarter of last year.
The amount of money raised by med-tech companies in the first quarter (Q1) of 2023 is the lowest amount raised for the industry during any quarter going back to 2018.