Device companies raised a total of $1.2 billion in financing in the fourth quarter, a 16% decrease from Q3's $1.4 billion. Q4 turned out to have the second-lowest financing aggregate of the year, only ahead of the first quarter's $934 million. However, the medtech industry had a strong 2015 in terms of overall figures and brought in a total of $5.4 billion, a 35% increase over 2014's $4 billion (which had been flat from 2013). (See Exhibit 1.)
The largest single transaction of Q4 was also the quarter's lone initial public offering – Novocure Ltd.'s $161 million...