Merger and acquisition activity soared in the second quarter of 2008 as medical device companies led the way. A new report from Irving Levin Associates finds that overall, healthcare sector announced a total of 265 deals with a value of $85.5 billion. That represents a 19 percent increase in the volume of deals and more than triple the $27.7 billion in deals announced in the first quarter. The second quarter a $17.2 billion increase over the same period a year ago. The healthcare technology sector represented the bulk of the activity accounting for nearly 95 percent of the total activity. That’s up from 80 percent a year ago.