In the ophthalmic device sector, intraocular lens surgery is expanding way beyond the cataract market with paradigm shifting technology. The vast presbyopia market now has an FDA-approved "corneal inlay" option, micro invasive glaucoma surgery has created an entirely new device segment, and corneal cross-linking has the potential to transcend its role as an effective treatment for a corneal disease to possibly being the next big thing in the non-surgical treatment of refractive errors.

Device financing decreased to $734 million in Q3, less than half the Q2 total, and the $4.9 billion in M&As was a sharp decline versus Q2. Diagnostics fundraising, at $399 million, showed a 31% drop from Q2, and Merck KGAA’s $16.7 billion buy of Sigma-Aldrich made up 96% of the Q3 M&A activity.

Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Medical Device Deals Update column is a survey of recent medtech M&A, alliance, and financing activity. This month’s column covers deals announced September-October 2014.

WaveTec’s ORA system, intended to support optimal positioning of intraocular lenses during cataract surgery, will be integrated into Alcon’s existing cataract line under a purchase agreement announced Aug. 27.