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.