With one completed med-tech merger ranking within the BioWorld Top 10 list for highest value, and two others set to join the list in coming months, 2021 is turning out to be the strongest M&A year for the industry to date.

With financings falling just shy of last year, the med-tech industry has raised a total of $41.3 billion so far in 2021 through 494 financings. That is down roughly 3% from the 513 financings worth $42.46 billion by this point in 2020. Most of the money last year came through follow-on offerings and private placements, with IPOs and venture capital rounds making up only 26% of the total.

A total of 946 med-tech deals so far in 2021 are valued at $537.42 million, which pales in comparison to each of the last three years, although the volume is way ahead, indicating robust activity but a high number of deals with undisclosed terms.