There were hundreds of investments in the healthcare sector in the third quarter, despite the pandemic, according to a report from S&P Global Market Intelligence.
Five details:
1. The healthcare sector raised $22.44 billion through private equity and venture capital deals in the quarter, up from $17.82 billion in the second quarter. Investment is also up year over year, with the healthcare sector collecting $19.12 billion in investments in the third quarter last year.
2. There were 732 deals in the healthcare sector last quarter, and the value of the deals was up 17.4 percent.
3. The healthcare industry has reported 2,072 deals totaling $60.72 billion this year. By comparison, IT raised $97.5 billion on 4,703 deals.
4. Among healthcare sectors, biotechnology had the most investment activity in the first half of 2020, with 577 deals totaling $20.19 billion through Sept. 30.
5. The pandemic drove investment in companies that enable remote work and enhanced online service capabilities, according to the report.