Medtech dealmaking grinds almost to a halt

If 2022 was a disappointing period for medtech dealmaking, 2023 is shaping up to be even worse. The few mergers and acquisitions that have closed so far this year are more to do with companies divesting units than buying in innovative technology. And several others have resulted from private equity firms shuffling their assets.

When it comes to venture financings the picture is not a lot rosier. Less money has been raised than at any half-year point since June 2015, and just 65 deals were done. And the other route for private medtechs to raise cash is closed off completely: the first half of 2023 saw precisely zero medtech IPOs.