The breakneck pace of consolidation continued in 2017, significantly reducing the pool of Big 100 companies, as cash-laden companies scooped up smaller firms.
The medical device industry may not be keeping pace with initial public offerings in biotech, but medtech is holding its own when comes to mergers and acquisitions, according to industry watchers.
Boston Scientific alone bought seven companies as of mid-August, by when 11 venture-backed deals had also occurred; Johnson & Johnson bought French robot-assisted surgery company Orthotaxy in February.
“The biotech industry has been in a resurgence over the last few years with many high-value IPOs. The medical device industry hasn’t garnered the same IPO headlines, but there have been a number of megamergers between the medtech giants and many meaningful acquisitions of early-stage companies by the big players,” patent attorney David Dykeman, a shareholder with the Greenberg Traurig law firm in Boston, told Medical Design & Outsourcing.