Deals and Financings
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News We're Watching: Tricuspid Procedure Boom, Boston Scientific Borrows $2Bn, And More
Medtech Insight's News We're Watching highlights some recent business and R&D developments you may have missed. This week, GE Healthcare and Biofourmis announced a deal to collaborate on virtual care; Cleerly touts a new CPT code for its Ischemia cardiac diagnostic software; Boston Scientific announced how it plans to pay for Axonics; a Wells Fargo survey suggests the market for transcatheter tricuspid valve repair and replacement will grow faster than previously imagined; Virtual Incision earns FDA de novo authorization for its MIRA miniaturized surgical system for colectomy procedures; and MMI and Fabric announce major financing rounds.
SVB’s Milo Bissin Predicts ‘Reckoning In 2024’ For Health Care Companies With Sky-High Valuations
VC funding will remain challenging for many in the health care industry, Silicon Valley Bank’s market manager Milo Bissin told attendees at the recent DHIS West conference. Companies focusing on promising areas such as AI-powered technologies, women’s health and value-based care likely have the best chances to draw investors’ attention.
Change Of Plan: Medtronic Drops Ventilators, Keeps Monitoring, Forms New Unit
Medtronic will stop producing ventilators and combine the rest of its patient monitoring and respiratory interventions business into a new business called acute care and monitoring. The company had previously announced plans to divest all of the patient monitoring and respiratory intervention business.
UK Offers £10M Funding To Eight Medtech Innovators
The Innovative Device Access Pathway pilot has launched in the UK with eight new promising medical technologies. The cohort is overwhelmingly diagnostic-focused, with innovative testing for Alzheimer’s, stroke, and liver cancer, amongst others.
Freenome Bags Another $254m As Study Results Draw Closer
Freenome, the Roche-backed early cancer detection liquid biopsy developer has raised yet more money, making it one of the best-funded companies in its sub-sector. With trial results due relatively soon, investors are likely hoping this will be the last funding round required before full commercialization.
Cardio Catch-Up: Procyrion Raises Nearly $60M As Aortix Creeps Closer To Clinic
The Houston-based cardiovascular device developer has secured renewed support from its investors to fund its pivotal trial of Aortix, a device designed to treat patients suffering from often-fatal, difficult to treat cardiorenal syndrome.
Invitae Claws At $50m, Selling Reproductive Health Assets
Natera has pounced on the opportunity to purchase Invitae’s reproductive health assets at a bargain price, simultaneously quashing any potential ongoing royalty payments between the two.
Onera Bags €30m To Fund Sleep Tech
The start-up has raised more cash to further commercialize its lighter-weight polysomnography platform.
Deals Shaping The Medtech And Diagnostics Industries, December 2023
An interactive look at medtech and diagnostics deals made during December 2023. Data courtesy of Biomedtracker.
JPM 2024: Intuitive And J&J Both Weigh In On Growth For 2024
The two medtech giants – both of which will soon be releasing new robotic systems – spoke about growth targets and opportunities going into 2024.
JPM 2024: 'It's Really Around Focus.' Nevro Announces Restructuring Including 5% Staff Cut
Nevro will lay off 63 people to save at least $14m a year. Most of those savings will be reinvested to cover increases in normal operating costs, merit pay increases and other expenses related to the recent acquisition of Vyrsa.
JPM 2024: Illumina Publishes Results And Speaks On Future Efforts Towards Stabilization
For Illumina, the past year has been mostly a nightmare of its making. However, with Grail’s divestiture on the cards for 2024, stability may soon return to the company.
JPM 2024: ‘Economic Engine:’ Genomics News Abound From Exact, Guardant And Veracyte
The three genomics players all announced preliminary results prior to speaking, and all had more news to add about their recent success and their plans to grow the demand for cancer diagnostics.
News We’re Watching: GE And Google Announce AI Initiatives, Medtronic Announces Approvals, And More
Medtech Insight's News We're Watching highlights medtech industry developments that you may have missed over the last few weeks. UK-based CMR Surgical announced more milestones, Newfoundlound Diagnostics introduced a new UTI diagnostic, Google announced a new health care-oriented large language model, and more.
Updated: Boston Scientific Buys Axonics For $3.4BN; Adds Neuromodulation To Incontinence Lineup
Analysts support Boston Scientific's plan to buy Axonics for $3.4bn in cash. The deal is expensive, but gives Boston Scientific a strong position in the fast-growing sacral neuromodulation (SNM) therapy market and boosts its existing portfolio of products for incontinence.
JPM Day 1: Abbott Riding In Tandem With Libre 2 Plus & t:slim X2 News
The two diabetes players announced a new integration between their products.
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