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Dealmaking: Q3 Roundup Shows Deal Values Jump From Prior Quarter

A look at M&A and alliance activity across the medical device and in vitro diagnostics industries, July-September 2020

 
• By Deanna Kamienski and Maureen Riordan

Device company M&A values reached $17.9bn in Q3, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $8.2bn.

M and A diagram, Businessman hand touching M&A (Merger and Acquisition) sign on virtual screen

Featuring 24 completed device M&A transactions, half of which had disclosed values together totaling $17.9bn, the third quarter showed an exponential increase in deal value (and deal volume also notably rose) from Q2’s $159m (for five completed deals; see Exhibit 1). At the top, making up 92% of the Q3 total was Siemens Healthineers AG’s definitive agreement to acquire public radiotherapy developer Varian Medical Systems, Inc.. in an all-cash transaction valued at $16.4bn. ([A#MT142548])

Even without this transaction, the Q3 deal value, at $1.5bn, was still almost 10 times more than the previous quarter.

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