Venture capital and private equity funding across the globe in the healthcare information technology (IT) sector rose by 53% in the second quarter this year from the preceding quarter.
The funding at $1.2 billion, is however, 30% lower than what it was in the year-ago quarter, according to research firm Mercom Capital Group.
The research company on Wednesday said there were 138 deals in the digital health sector in the quarter ended June, compared to 142 deals in the first quarter.
Other sources of financing, like debt and public markets, accounted for $1.6 billion. They included four initial public offerings (IPOs).
“In the healthcare IT sector, companies raised more money through IPOs than venture capital this quarter. Growth in public market financing is an encouraging sign for companies in this sector as it opens up another avenue for funding and an exit path for investors. That said, out of 14 IPOs since 2012, six have decreased in value over their IPO price as of the end of last quarter,” said Raj Prabhu, CEO and co-founder of Mercom Capital Group.
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