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Mount Sinai Hospital of Toronto
Latest From Grail Inc.
It was a robust month for medtech M&A deal making with 17 deals in May, making it the busiest month of the year to date. The total number of acquisitions beat the number recorded in May last year and picked up slightly from the 14 deals inked in the previous month.
Medtech companies brought in $2.3 billion in financing in Q1 2017, a slight decrease from Q4 2016; device M&A deals totaled $5.8 billion, a sharp decline from the prior quarter, but there were some billion-dollar deals. Q1 diagnostics financings – totaling $1.2 billion (thanks to a $900 million Series B round by cancer diagnostics company Grail) – showed a significant increase over the preceding quarter, as did the Q1 M&As at $700 million versus the previous $87 million.
Recent executive-level company changes and promotions in the biopharma, medical device and diagnostics industries.
It would have been difficult to beat March's unusual bumper harvest, which benefitted from Grail's near-$1bn round, but venture fundraising efforts in April were stymied by the absence of deals beyond the $50m mark.
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