[Image by Cytonn Photography on Unsplash]
Fewer medical device companies are securing their first big venture capital investments — or engaging in large mergers — amid the COVID-19 pandemic, according to recently released reports from Silicon Valley Bank and PwC.The medical device industry saw 38 Series A investments worth $279 million during the first half of 2020, down from 45 deals worth $408 million during the same period a year ago, according to SVB’s new mid-year “Healthcare Investments and Exits” report.
Meanwhile, PwC reports that the volume and value of medical device M&A deals decreased during the first half of the year. There were 28 medtech M&A deals worth $1.9 billion during the first six months of 2020, versus 38 deals worth $15.4 billion during the previous six months.
The numbers are but another indication that the medical device industry is not immune to…