Deal activity by volume related to cybersecurity increased by 13% year-on-year in 2023 in the medical industry

A​​​​​​​nalysis of the key themes driving deal activity reveals that cybersecurity accounted for 80 medical deals between 2019 and 2023, worth a total value of $3,045m, according to GlobalData’s Deals database covering mergers and acquisitions, private equity, venture financing, equity offerings and partnerships.  

The $870m private equity investment in Absolute Software by Crosspoint Capital Partners was the largest disclosed deal in 2023, while the $1.2bn equity offering by ADT was the largest disclosed deal in 2022.  

In volume terms, cybersecurity related deal activity increased by 13% year-on-year in 2023 and by 130% year-on-year in 2022.  

Partnership accounted for the highest number of deals in the last five years, with 28 deals, followed by Venture Financing (20 deals), Acquisition (13 deals), Equity Offering (9 deals), Private Equity (7 deals), and Asset Transaction (3 deals).

The top financial advisors supporting deals related to cybersecurity in the medical industry in the last five years in terms of value were Citi, Evercore, Morgan Stanley & Co., Barclays, Perella Weinberg Partners, and Raymond James Financial.

The top legal advisors supporting deals related to cybersecurity in the medical industry in the last five years in terms of value were Cravath, Swaine & Moore, Sidley Austin, Wilson Sonsini Goodrich & Rosati Professional, Blake, Cassels & Graydon, Cooley, Ropes & Gray, Stikeman Elliott, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, and Willkie Farr & Gallagher.