Medtronic Expands Renal Disease Focus With Bellco Buy
This article was originally published in The Gray Sheet
Medtronic has bought Bellco Health, adding the Italian company's hemodialysis products to its recently-formed Renal Care Solutions division.
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China Medical divests ultrasound biz: China Medical Technologies divests its high-intensity focused ultrasound (HIFU) tumor therapy business to shareholder Chengxuan International for $53.5 million in order to refocus on in vitro diagnostics. Xiaodong Wu, who is both CEO of CMT and owner of Chengxuan, did not take part in deliberations over the sale, which was approved by CMT's independent board members, CMT notes. Announced Dec. 31, the move reflects pressures on the HIFU business from the global financial crisis, stricter regulations on medical equipment by China's State FDA, and the financial burden involved in obtaining U.S. and EU regulatory approvals for HIFU equipment, CMT explains. Beijing-based CMT recently acquired a human papillomavirus genotyping assay for $345 million, which it expects will generate up to $26.5 million in sales this year; the company will use the proceeds from the HIFU sale to further develop its molecular diagnostics business (1"The Gray Sheet" Oct. 13, 2008, p. 8)
Medtech Insight talked with XACT Robotics’ executive chairman Harel Gadot about plans for the FDA-cleared ACE robotic system and market opportunities. See what Gadot said about the market opportunity here.
Private Company Edition: The global accelerator has new commitments from HHS and the Wellcome Trust. Also, Apollo buys into Sofinnova Partners with an up to €1bn investment, Castle Creek raised $124.6m in private funding this year in lieu of an IPO and Remix closed a $70m series B round.