Despite a nationwide decline in venture capital funding, the healthcare industry rebounded in the fourth quarter of 2002 with a 27% increase in the number of companies receiving funding, according to a new report by Growthink Research, Venice, Calif. A total of $1.3 billion was raised by 128 privately held healthcare companies--28.2% of the total venture dollars invested compared with 23% in the previous quarter. The picture particularly improved from the third quarter for the biotechnology/pharmaceutical and medical device segments in terms of the number of companies raising capital and the total dollars received. The average deal size for the sector was $10.4 million. -- by Cinda Becker
Healthcare rebounds despite decline in VC funding
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