There was truly a stunning amount of VC investment in medical technology at the beginning of 2010, with the total funding of medtech in January at over $500 million. (See link.)
Of course January's amount was way above average, but February's was indeed below average, creating a pretty big gap between the January investment of $514 million and the scant $160 million in February VC medtech investment.
The difference, I believe, ensues from the pent-up demand for funding that was unsatisfied in the Q4 of 2009 and unleashed in new year vigor. February had no chance to continue such a blistering pace.