| If your business is between $5 Million and $250 Million, you are part of the Middle Market. The fact is that if you have a small to medium size business, you make up more than 80% of the world economy. If you look closely at the MedTech industry, the numbers are quite impressive: The top 10 companies make up for 37% of the industry with another 30 companies growing fast and catching up. The world of Mergers and Acquisitions has been quite active in MedTech. We have watched giants swallow other giants (i.e. Medtronic and Covidien). And other industry giants who were not in healthcare (I.e. Apple and Google) have now entered the field. In the meantime, Venture Capital Firms have re-assessed their strategic investments. While they continue to invest, they do so more cautiously for MedTech than in the past. At the “Device Talks” meeting last week in Boston Massachusetts, start-up businesses were discussing ways to get financing and it became clear that the dollars are limited compared to the number of companies seeking funding. It’s frustrating for those emerging technology companies as they continue to hear statements (including in this newsletter) that “there is more capital available than ever before.” (Note: we will talk about this in an upcoming newsletter.) However, if you have an established, profitable business, then you are in demand more than ever before! Big companies have money to spend and innovation does not come fast in large companies. If your product fits their strategy then you will be very attractive. If you have even a small EBIDTA and a solid business, PE firms are looking for you. So… · Who are the big “Strategics” in MedDevice and MedTech? · Is what you have of interest to them? · Who is the best fit for you? · And last but certainly not least: How should you structure a deal? To read our answers to these questions plus more about why Strategics and PE Firms are going after the Mid-Market, click here! | 
