US healthcare venture fundraising in 2019 set a record for the third consecutive year and US/Europe investment into venture-backed healthcare companies dipped only slightly from a year ago. Strong M&A and IPO performance led to significant mark-ups and returns in all four sectors – biopharma, medical device, diagnostic/tools and healthtech. Read SVB’s annual report on Healthcare Investments & Exits to get proprietary analysis and our outlook for 2020.