Medical Technology M&A Pulse – 2021 Year in Review

2021: A Standout Year in Medical Technology

• In the face of ongoing waves of COVID-19 and concerns about inflation, M&A, VC, and equity markets had an outstanding year in 2021. With numerous investor classes eager to deploy capital 2022 is shaping up to be another banner year for deal making.
• 2021 was a robust year for M&A within the medical technology sector, with reason for continued optimism into 2022. Total activity reached 766 announced or completed transactions, a 36.8% increase over 2020’s strong performance in its own right. Each of PMCF’s subsectors saw an increase in volume year-over-year, led by Non-Imaging Diagnostic which was up 58.8%, and Services which were up 51.9%. Looking at just the fourth quarter, activity increased 12.3%, below the explosive growth of prior quarters, but still evidence of healthy market activity.
• Stock market performance across PMCF’s four Medical Technology indices was a mixed bag in 2021. The Diagnostic, and Diversified Medical Device sectors each had excellent years, growing 22.5% and 11.5% respectively. Growth in the Cardiovascular and Orthopedic indices was considerably more modest, finishing the year up 4.2% and 2.2%. All four indices trailed the S&P 500 Growth Index, which, powered by the strong performance of technology stocks, notched 33.1% gains on the year.

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