VC Deals Continue to Flow In for Canadian Healthcare Companies
January 13, 2014
Since the beginning of 2009, VC investors have completed 105 deals involving healthcare-related companies headquartered in Canada, according to the PitchBook Platform. The number of deals completed each year was on an upward trend from 2009 to 2011, more than tripling from 8 to 28. After a slight drop in activity in 2012, the yearly deal count rebounded back to 28 in 2013. Though 2011 and 2013 accounted for an identical number of completed deals, 2013 saw 58% less capital invested, corresponding with a lower median deal size of $770,000, compared to 2011’s median deal size of $3.9 million.
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The healthcare sectors that accounted for the largest portions of the deal flow in the timeframe include pharmaceuticals & biotechnology (48%), devices & supplies (29%) and technology systems (12%). The first Canadian healthcare deal of 2014 belongs to Clementia, a biotech company developing treatments for rare diseases, which raised $22.5 million of Series A funding last week.