China health care deals bounce back to pre-Covid-19 levels
Deals involving Chinese health care companies have rebounded back to the level they were at before Covid-19, according to a new CB Insights report.
There were 164 deals in the second quarter, an uptick from the 106 deals recorded in the first quarter, a two-year low.
The China health care sector's quick comeback was largely due to a quarter packed with mega deals that exceeded $100 million, including the $1 billion Series B financing of genomics company MGI Tech in May, He Wang, senior health care analyst at CB Insights, told STAT.
There are a number of possible factors at play, including renewed demand from investors, regulatory support for domestic players, strong performances of the health care sector on the Hong Kong and Shanghai stock exchanges, and effective containment of the local Covid-19 outbreaks, Wang said.
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