2019 was an average year for medtech M&A. 2020, not so much.
20 key healthcare transactions, most struck before the Covid-19 pandemic hit, have yet to be formally completed.
Despite insisting last year that it was no longer for sale, Qiagen falls to Thermo Fisher for $10bn.
New products and strategic execution buoyed mid and small-cap medtechs, while safety worries took down one former high-flier.
On the corporate front Astellas continued to buy, while Qiagen decided that it was not, after all, up for sale.
Even if the sequencing giant doesn't suffer in the short term from the death of its bid for Pacbio, long-read tech is nipping at its heels.
The Dutch group is ripe for a takeover, and while Thermo Fisher has to be the likeliest candidate for acquirer there are a number of potentially interested parties.
The speediest device developer is Roche, but a look at companies’ strategies shows the perils of relying on bought-in tech.
A shift to higher-growth systems and a tie-up with Illumina are sensible moves, but will take time to pay off.