Device/Diagnostics Quarterly Dealmaking Statistics, Q1 2020

A Look At Financing, M&A And Alliance Activity January-March 2020

06 Jul 2020

• By Maureen Riordan

Device financing totaled $1.4bn during the first quarter of 2020. Merger and acquisition activity reached $714.5m, with only two transactions hitting the six-figure mark. Financings by diagnostics/research players totaled $985m and just six companies were acquired, four of which together were valued at $11.6bn, most coming from Thermo Fisher Scientific’s $11.5bn buy of fellow public life sciences company Qiagen NV.

Financing activity during 2020’s first quarter reached $1.4bn, with most (36%) of the Q1 dollars allocated to debt raises (see Exhibit 1). NuVasive Inc. (spine technologies), which netted $435.9m through the private sale of 0.375% convertible senior notes due 2025 to qualified institutional buyers, completed the largest transaction in the debt category and also the top financing overall of Q1 [See Deal].

SeaSpine Holdings, another company operating in the spine space, netted $79.9m via a follow-on offering [See Deal]. The FOPO...