Spending on healthcare M&A hit a new record in the second quarter of 2014, according to Health Care M&A News. The combined total for M&A activity in the second quarter reached $135.2 billion, up 171% compared with the first quarter spending total ($49.9 billion). M&A spending is also 152% versus the same period in 2013.

Tech is hot: The vast majority (91%) of combined M&A spending came from transactions on the healthcare technology side, while healthcare services contributed the remainder (9%). Dollar volume for technology exploded by 229% over the first quarter of this year. Dollar volume for services was down 3% compared to the first quarter.

“Now that the health information exchanges are functioning, investors have decided that health care is a good place to be,” says Lisa E. Phillips, editor of Health Care M&A News. “The equity markets are still rewarding the big deal makers, as well. At this point, it looks as if this momentum could carry well into the third quarter.”