Market Overview

Medical Device M&A Continues Steady Pace, According to New M&A Report from Irving Levin Associates


Merger and acquisition activity in the Medical Device sector of the health-care industry has proceeded at a fairly steady pace over the past three and a half years in terms of the number of deals announced from January 2009 through June 2012—a trend that appears to be continuing according to Irving Levin Associates' new report The Medical Device Acquisition Report, Second Edition, 2012 In fact, Medical Device has been the most active M&A sector in the entire health-care industry through the first half of 2012.

During the three and one-half year period covered in this report, the Medical Device M&A market accounted for 632 transactions. The 88 deals announced in the first half of 2012 amount to about 14% of those deals, a level of activity that is on target to match or exceed the average number of deals transacted in each of the previous three years.

The number of transactions each year and respective annual dollar volume, according to The Medical Device Acquisition Report, Second Edition, 2012, are listed in the table below.

Medical Device Mergers and Acquisitions January 1, 2009 – June 30, 2012

Number of


Dollar Volume of

2009   177   $13,900,000,000
2010   185   $47,700,000,000
2011   173   $65,730,000,000
2011 First 6 Months   89   $48,150,000,000
2012 First 6 Months   88   $14,900,000,000

The number of M&A transactions announced in the Medical Device sector has proceeded at a relatively steady rate of 173 to 185 deals per year for the past three and one-half years. Comparing the number of transactions that were announced in the first six months of 2012 (88) to those announced in the comparable period in 2011 (89), that level of activity appears to be continuing; the current year is on track to at least meet the 173 deals announced in all of 2011.

The dollar volume revealed in the first-half of 2012 is a sharp departure from the comparable period in 2011, primarily due to a $21 billion transaction in April of last year. Because of the inclusion of that huge transaction in 2011, the $14.9 billion revealed for Medical Device acquisitions in the first-half of 2012 is a far cry from the $48.15 billion revealed for this sector in the first half of 2011. At the same time, the first-half of 2012 dollar volume has already exceeded the $13.9 billion reported for the entire year of 2009

The Medical Device Acquisition Report, Second Edition, 2012 is published by Irving Levin Associates, Inc. The new 2012 edition includes hard-to-find details on Medical Device M&A transactions such as price/revenue ratios, device types, and more. The report was recently published and can be purchased at

For more information on The Medical Device Acquisition Report, Third Edition, 2012 or for a subscription to any Irving Levin publication, call 800-248-1668 or go to Irving Levin Associates, Inc. was established in 1948 and is based in Norwalk, CT. This privately held corporation publishes research reports and newsletters, and maintains health care and seniors housing M&A databases.

Note: If you would like to receive this via email, please send your email address to

Irving Levin Associates
Stephen M. Monroe, Partner
Phone: 800-248-1668
Fax: 203-846-8300

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