Echoing trends seen last year, the med-tech industry concluded 2023 with a continued surge in deal value juxtaposed against a more substantial decline in M&A value. Deal value for the year, including licensings, collaborations and joint ventures, reached $10.63 billion from 1,656 deals, the highest annual value in BioWorld’s records.
To say that 2023 continued to be a difficult fundraising environment for companies in Europe is an understatement. However, there were some green shoots and investors continued to back companies, seeing opportunities across the health tech, med-tech and biotech space.
Med-tech firms raising money in public or private financings, including: Bluejay Diagnostics, Median Technologies, Meihua International Medical Technologies, Profound Medical.
Most categories of med-tech financings peaked during the COVID-19 pandemic, with the highest values seen in 2020-2021. While public/other and private financings have successfully rebounded to pre-pandemic levels, the aggregate financings for 2023 hit an unprecedented low according to BioWorld’s records.
The biopharma industry is still adjusting from the heady days of the COVID-19 pandemic, and nowhere is this so apparent as in financings. The value of financings has returned to what could be called a new normal, down from the surge of capital seen in 2020-2021. However, there are signs that the trend is heading back upward at a steady pace.
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