US medical devices industry saw a drop of 19.44% in overall deal activity during October 2022, when compared with the last 12-month average, led by Ares Management’s $275m private equity deal with Tempus Labs, according to GlobalData’s deals database.

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A total of 87 deals worth $935.9m were announced in October 2022, compared with the 12-month average of 108 deals.

venture financing was the leading category in the month in terms of volume with 61 deals, which accounted for 70.1% of all deals.

In second place was M&A with 22 deals, followed by private equity with four transactions, respectively accounting for 25.3% and 4.6% of overall deal activity in the US technology industry during the month.

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In terms of value of deals, venture financing was the leading deal category in the US medical devices industry with total deals worth $527.35m, while private equity and M&A deals totalled $375m and $33.5m respectively.

US medical devices industry deals in October 2022: Top deals

The top five medical devices industry deals accounted for 56.1% of the overall value during October 2022.

The combined value of the top five medical devices deals stood at $525m, against the overall value of $935.9m recorded for the month.

The top five medical devices industry deals of October 2022 tracked by GlobalData were:

1) Ares Management’s $275m private equity deal with Tempus Labs

2) The $100m private equity of Think Surgical by KDB Investment

3) Anne Wojcicki, Cindy Crawford, Eric Schmidt, Felicis Ventures, Rande Gerber, Timothy A. Springer and Tony Fadell’s $70m venture financing deal with Prenuvo

4) The $40m venture financing of Radiomedix by Portland Investment Counsel

5) Deerfield Management Co and Foresite Capital Management’s $40m venture financing deal with Pleno