It was a very good year for venture capital investment in the medical device industry, according to research firm CB Insights.
The New York-based shop said medtech deals garnered 34% of all healthcare venture deals in 2014, the 2nd year the industry has captured that honor. Biotechnology and drug development followed closely behind with 25% and 13%, respectively.
Medtech companies also captured the lion’s share of total VC dollars in 2014, winning 28% of healthcare funding, CB Insights researchers said. Healthcare deals in 2014 totaled $8.2 billion in 2014, a 28% increase from the prior year.
On a geographic basis, California and Massachusetts led the way on healthcare investment, with California nabbing 38% of all deals and the Bay State about 17%, according to CB Insights. Surprisingly, Pennsylvania came in 3rd at 15%.
The research firm’s annual venture capital report can be downloaded here.