Industry Is Falling Short In Digital Investments
Industry fundamentals to date suggest the device sector as a whole should be doing more to go all-in on digital and data analytics. That's the takeaway from EY's annual "Pulse of the Industry" report for the medtech space.
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Digital health and innovation strategist John Nosta talks about the need for medical technology companies to stay true to their technology roots and not get too attached to the "patient centricity" bandwagon. Also: innovating organically and "failing smart."
The study will evaluate Zimmer Biomet's mymobility app on the Apple Watch and iPhone to guide patients undergoing knee or hip surgery through both pre- and post-op care.
Second quarter device financing totaled $3.4 billion, less than half of the Q1 aggregate. Conversely, the $10.6 billion in device M&As was a 58% upsurge over the previous quarter. Like the device trends, total Q2 diagnostics financings (at $959 million) showed a 36% decline from Q1, while the $4.8 billion in M&A volume exhibited a significant increase over the previous quarter.