Surgical robotic developer leads device makers in top healthcare VC deals

CMR Surgical’s Versius system console [Photo courtesy CMR Surgical]

Surgical robotics developer CMR Surgical was the lone medical device maker in the 10 largest healthcare venture capital deals of 2021 in the U.S. and Europe.

That’s according to a ranking provided to Medical Design & Outsourcing by Silicon Valley Bank (SVB), which recently published its annual VC analysis drawing on its own proprietary information and data from Pitchbook.

Cambridge, U.K.–based CMR Surgical raised $600 million in a Series D financing round announced in June. CMR’s Versius surgical robotic system is available in Europe, Australia, India and the Middle East, but has not been approved by the FDA.

CMR Surgical today announced its expansion into Poland as a hub for Central and Eastern Europe, and last week said its robotic system has been used in thoracic surgery, specifically esophagomyotomies, lobectomies and thymectomies.

Six of the healthcare industry’s 10 largest VC deals last year were in the healthtech sector, including the four largest. The biopharma sector took three of the top 10 spots.

The largest healthcare VC deal of 2021 was Devoted Health’s $1.2 billion Series D round, led by Uprising and SoftBank Vision Fund 2. Headquartered in Waltham, Massachusetts, Devoted Health uses tech to control costs and quality of care for the patients enrolled in its Medicare Advantage health plans.

The second-largest deal was Chicago-based MDVillage’s $1.025 million investment from Walgreens Boots Alliance (NSDQ:WBA). The two companies are opening hundreds of Village Medical at Walgreens primary care clinics with what VillageMD CEO Tim Barry calls its “high-tech, high-touch model.”

The third-largest deal was by Brooklyn, New York-based Cityblock Health, a spin-out from Google parent company Alphabet (NSDQ:GOOGL). It describes itself as “the first tech-driven provider for communities with complex needs,” delivering in-home, community-based and virtual care for Medicaid and lower-income Medicare beneficiaries.

The last of the four healthtech dealmakers leading the list was San Francisco-based Hinge Health, a digital musculoskeletal clinic offering personalized exercise therapy and wearable pain relief devices.

2021’s 10 biggest healthcare VC deals in the U.S. and Europe

1. Devoted Health: $1.2 billion (HealthTech sector)
2. VillageMD: $1.025 billion (HealthTech sector)
3. Cityblock: $726.03 million (HealthTech sector)
4. Hinge Health: $600 million (HealthTech sector)
5. CMR Surgical: $600 million (Device sector)
6. EQRx: $570 million (Biopharma sector)
7. Noom: $540 million (HealthTech sector)
8. ElevateBio: $525 million (Biopharma sector)
9. Ro (Other Healthcare Technology Systems): $500 million (HealthTech sector)
10. Laronde: $440 million (Biopharma sector)