TMCnet News
Medical Alley Shatters Records, Breaks $1 Billion Barrier in Three QuartersThe Medical Alley Association released their Q3 Investment Report Tuesday, revealing a record-breaking $1 billion raised in the first three quarters of 2020. A year after raising over $1 billion in capital for the first time ever, Medical Alley companies accomplished the feat again, this time needing just three quarters to pass the $1 billion mark. In total, 58 Medical Alley companies have raised $1,015,712,605 so far this year, showing the strength of the early- and growth-stage ecosystem here and proving that 2019's billion-dollar year was a show of ongoing growth. Digital health currently leads all sectors, having raised more than $658.6 million this year, but medical device companies are drawing substantial interest as well, with $315 million brought in so far this year. Of the more than $1 billion raised this year, $759.3 million was raised in the third quarter alone, led by Bright Health's $500 million Series E raise announced just eight days before the quarter's end. Even before their exciting announcement, however, Medical Alley companies had already established a new record for funds raised in a third quartr - thanks to raises from Preventice Solutions, CVRx, and CardioMech - and had locked down the second strongest year-to-date in the last 10 years. "During this pandemic, Medical Alley has been answering the call, delivering on our leadership position as the global epicenter of health innovation and care," said Shaye Mandle, President and CEO of the Medical Alley Association. "Clearly, shattering another record for investment in Medical Alley health innovators demonstrates that the world increasingly looks to Medical Alley for today's needs and to bring the future of healthcare forward." To see the full release and the Medical Alley Association's analysis, visit us here. About the Medical Alley Association Founded in 1984, the Medical Alley Association supports and advances the global leadership of Medical Alley's healthcare industry, and its connectivity around the world. MAA delivers the collective influence, intelligence and interactions that support Medical Alley.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201013005867/en/ |
