Device/Diagnostics Quarterly Deal Statistics, Q2 2013

A look at financing, M&A, and alliance activity, April–June 2013

Similar to Q1’s deal dollars and volume, device companies raised $1.06 billion through 45 transactions; Bayer HealthCare’s $1 billion purchase of Conceptus was the only device M&A in Q2 to exceed the billion-dollar mark. Diagnostics players raised a total of $2.9 billion during the second quarter, a huge increase over Q1 due to Thermo Fisher Scientific’s $2.46 billion follow-on offering to support its $15.2 billion April acquisition of Life Technology, another Q2 outlier in the M&A category.

In the second quarter of 2013, device companies raised $1.06 billion (45 transactions), on par with the $1.1 billion amassed in the previous quarter for about the same number of deals. (See Exhibit 1.) Late-stage venture financing again led, bringing in $384 million. Top fundraiser Proteus Digital Health Inc. grossed $63 million in a Series F round from corporate backers Oracle Corp., Otsuka Pharmaceutical Co. Ltd., Novartis AG, and return investor Sino Portfolio. [See Deal] Proteus has brought in $180 million since its 2001 inception and in July 2012 received FDA approval for its ingestible sensor device (see[A#01120806010]), capable of communicating physiologic and behavioral data to caregivers via a wireless signal contained in the sensor. The diagnostic imaging field had a decent showing from three firms completing late-stage raises: a $36 million Series D by SuperSonic Imagine SA (ultrasound) [See Deal], a $25 million Series Cby Topera Medical Inc. (3-D cardio display) [See Deal], and a $17 million Series D from ViewRay Inc. (MRI-guided cancer radiotherapy). [See Deal]

Exhibit 1

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