Q1 2021

Healthcare M&A Update


  • M&A deal volume in the Healthcare sector saw a slight pullback in Q1 2021 to 1,044 deals, down 7% from 1121 deals in Q4 2020 but still up 6% from 980 in Q1 of the prior year
  • Total capital invested decreased 39% to $52.5B from $85.4B in Q1 2020 and 56% from $118.1B in Q1 2019
  • Strategic buyers accounted for 44.4% of deal volume in Q1 2021 vs PE investors with 55.6%
  • The acquisition of Viela Bio by Horizon Therapeutics (NAS: HZNP) for $3.05 billion represented the largest Healthcare deal in Q1 2021
  • Stock prices and valuation multiples trended higher in Q1 2021 from prior year levels

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