Global venture capital funding in the health IT sector totalled USD 1.25 billion in the September quarter this year, taking the year-to-date tally to USD 4.2 billion, says a report.
So far this year, more than USD 4.2 billion has been raised through 463 deals, well ahead of the USD 3.6 billion raised during the same period in 2015.
"International funding deals continue to be strong, especially in China, boosting the overall total. 2016 is on pace to be the best fund-raising year for the sector," Mercom Capital Group CEO and co-founder Raj Prabhu said.
There were 17 Indian healthcare IT companies that received VC funding in the September quarter.
Some notable Indian transactions in the September quarter were Bangalore-based CureFit mobilising USD 15 million in series A funding from Kalaari Capital, Accel Partners, and IDG Ventures and Mumbai-based HEAL Institute, raising up to USD 7.5 million from a group of investors, including Jaspal Bindra and Parth Jindal, son of JSW Group Chairman Sajjan Jindal.
Globally, in the third quarter of this year, healthcare consumer-centric companies raised USD 851 million by way of 128 deals while healthcare practice-oriented companies secured 32 per cent of the funding with USD 404 million in 49 deals.
The top funded areas were mHealth apps with USD 253 million, telemedicine (USD 220 million), practice management solutions (USD 82 million), consulting (USD 77 million), mobile wireless (USD 75 million), wearables and sensors (USD 74 million), remote monitoring (USD 65 million) and payer solutions (USD 50 million).
The report noted that there were 53 M&A transactions involving healthcare IT companies in the September quarter.
The top disclosed M&A deal was the USD 2.35 billion acquisition of Press Ganey Associates by EQT Equity fund EQT VII, the report said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)