Although the volume of med-tech deals and mergers and acquisitions in 2020 rival each of the last two years, the level of disclosed values has fallen far short of 2019 in both instances.

Medtronic plc management put an emphasis on being nimble and commercializing novel technology at its investor day this week, and analysts appeared to approve of the message. As Wells Fargo’s Larry Biegelsen noted, Dublin-based Medtronic is moving away from a centralized company that is focused on economic value and margin expansion to one that is more decentralized, emphasizing innovation and topline growth.

COVID-19 has prompted dramatic rethinking of supply chains, health care delivery, regulations, and collaboration that are likely to permanently restructure the med-tech industry, according to industry leaders speaking at a panel during the Advanced Medical Technology Association’s (Advamed) Virtual Medtech Conference on Oct. 6. In addition, the significant increase in debt and strong fundamentals position the industry for a burst of M&A activity.

PERTH, Australia – Astrazeneca plc is leasing 175 Sozo devices from Impedimed Ltd. and plans to put them in 20 countries to run phase II trials for a combination drug that looks at fluid imbalance in the human body in patients with heart failure (HF) and chronic kidney disease.

Medtronic plc has unveiled its latest buy this year with the planned acquisition of Avenu Medical Inc., which focuses on the endovascular creation of arteriovenous (AV) fistulae for patients with end-stage renal disease (ESRD) undergoing dialysis. The two did not disclose the terms of the transaction.

More than 62% of the volume and 63% of the projected values of med-tech deals completed in 2020 are for one of two things: COVID-19 diagnostics and devices or digital health technologies that fall outside of the pandemic efforts. As of late September, BioWorld has tracked 1,012 deals this year – including licensings, collaborations and joint ventures – valued at $3.67 billion, as well as 272 completed mergers and acquisitions valued at $8.53 billion.

Smith+Nephew plc has signed a definitive agreement to acquire the Extremity Orthopedics business of Integra Lifesciences Holdings Corp. for $240 million in cash. The deal, which is slated to close around the end of this year, gives the London-based company a catalog of devices, implants and instruments that generated $90 million in revenue in 2019.

Dexcom Inc. has partnered with the University of Virginia (U.Va.) to accelerate development of next generation continuous glucose monitoring (CGM) and automated insulin delivery technology. The five-year agreement will focus on expanding CGM use in type 2 diabetes, gestational diabetes and in-hospital settings.

Corza Health Inc. has agreed to pay Takeda Pharmaceutical Co. Ltd. €350 million (US$409.8 million) in cash to acquire the Japanese drugmaker’s Tachosil fibrin sealant patch. The deal, which is expected to close by March 31, 2021, pending regulatory approvals, gives Corza Health a solid footing in the advanced wound care and closure market.

Following days of speculation, Illumina Inc. said today it will acquire liquid biopsy startup Grail Inc. for $8 billion in cash and stock, bringing back into the fold a company it spun out in 2016. The deal gives Illumina a major stake in the race the race to develop a less-invasive way to diagnose cancer. Since spinning out, Grail has raised nearly $2 billion from big-name investors with promises of a blood test for early cancer detection and is hoping to introduce its liquid biopsy as a laboratory-developed test (LTD) as early as next year.