The CB Insights report noted there are currently 37 health care unicorns, with a total value of over $92 billion. (Photo: Shutterstock)
Investment in med-tech startups grew at a strong pace in the third quarter of 2019, according to a new report from CB Insights. The consulting firm's "Global Healthcare Report Q3 2019" highlighted record-breaking growth in deals, skyrocketing investment in AI firms, and significant developments in areas such as cannabis companies, virtual primary care partnerships, and investments in microbiome and women's health startups.
Record number of deals
According to the report, 2019 is on pace to set a record for startup funding deals. "Health care companies globally have raised over 3,400 rounds this year and are on pace to exceed 4,500 annually for the first time. Companies have raised over $37.5 billion through the first 9 months of 2019," the report said.
And the funding deals can be big: health care "unicorns," startup companies valued at $1 billion or more, are no longer as rare as the term suggests: the CB Insights report noted there are currently 37 health care unicorns, with a total value of over $92 billion.
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