In Q1 2021, we tracked 48 M&A deals in the Healthtech market. The 2021 deal volume keeps on track to be a record year for Healthtech driven by COVID-19’s global spread. Private Equity activity in the market, which has been steadily increasing over the last 10 years, made up 33% of all deals this quarter.
Disclosed M&A deal value has been rising from 2013 through 2018, followed by a precipitous drop in 2019. 2020, however, saw record-high deal values, with $34.1B spent. It continued to grow in 2021 - in just 3 months of 2021, we tracked Healthtech deals for almost $20B.
In terms of top acquirers of Healthtech, eight of the top 10 buyers were PE firms. New Mountain Capital and The Carlyle Group led the pack with 7 acquisitions made by each. Advent International, Abry Partners, Constellation, GI Partners, and Clearlake Capital made 5 acquisitions each; and Thoma Bravo made 4 deals. Only 2 strategic buyers made it onto the leaderboard – CloudMD and WELL Health with 6 and 5 deals respectively.