ProVerum Medical closes $4.2M investment round

ProVerum Medical recently announced that it has closed a $4.2 million seed investment with Atlantic Bridge University Fund leading the investment round. Dublin-based ProVerum Medical, a startup company from Trinity College Dublin, received a number of investments from Irish and American angel investors like HBAN Medtech Syndicate, Irrus Investments, Boole and Xenium Capital. The $4.2

MW Industries acquires medical-component maker LaVezzi Precision

MW Industries, a provider of highly engineered springs, specialty fasteners, machined parts, and other precision components, has acquired LaVezzi Precision Inc. — manufacturer of precision-machined components used by the medical-device industry. Located in Bloomingdale, Ill., LaVezzi was founded more than 100 years ago as a manufacturer of components for motion-picture projectors. The company reinvented itself in…

MedAccred adds plastic extrusion to audit criteria

MedAccred recently announced that it has added plastics extrusion to its list of audit opportunities. Companies that want accreditation from MedAccred can now audit plastics extrusion in addition to cable and harness, heat treating, plastics injection molding, printed circuit board assembly, sterilization and welding. The audit criteria is developed from leaders in the medical device

How video games could take market share from big pharma

Tracy MacNeal, Ximedica At the Biotech Showcase in January, a panel discussed how video games are replacing drug therapies in a variety of diseases. If you haven’t seen the latest technology in this space, companies like Akili are providing drug-alternative therapies to kids with ADHD and Pear Therapeutics’ software is aimed at helping people with addiction. Technologists have reached incredible heights in getting people to

Tomorrow is Medical Alley Day in Minnesota

Minnesota Gov. Mark Dayton has declared tomorrow as Medical Alley Day in the state — the same day the state’s Medical Alley Association is holding its annual meeting in downtown Minneapolis. The North Star State is one of three major medical device hubs in the U.S., the other two being California and Massachusetts. Dayton noted in his

Nelson Labs expands lab operations at Illinois facility

Nelson Labs recently announced that it has invested in expanding its operations and service capabilities at its Itasca, Ill. facility. The investment will offer upgrades to the laboratory facilities, in addition to a 10,000 sq. ft building expansion and renovated lab space. The upgrades will include a BI sterility suite to support EO sterilization validations

How Minnesota got a Pediatric Device Innovation Consortium

FDA funds a handful of pediatric device innovation groups around the United States. But Dr. Gwenyth Fischer, director of The Pediatric Device Innovation Consortium at the University of Minnesota, thinks there’s something that sets the seven-year-old group apart. The Minnesota group, Fischer said, is focused not only on funding but on getting doctors and other academics

Medtech stories we missed this week: April 20, 2018

From CHF Solutions’ new Italian distribution deal to Masimo’s CE Mark approval, here are five medtech stories we missed this week but thought were still worth mentioning. 1. CHF Solutions signs Italian distribution deal CHF Solutions announced in an April 17 press release that it has signed a new distribution agreement with TRX Italy to distribute

FDA OKs Opus breast implant line from Sientra, with Lubrizol manufacturing

The FDA this week granted a pre-market approval supplement to Sientra (NSDQ:SIEN) for its Opus line of silicone breast implants. The implants are made in Wisconsin by Lubrizol LifeSciences subsidiary Vesta, which inked a contract manufacturing deal with Sientra back in August 2016. Sales of Sientra’s silicone breast implants ground to a halt in the autumn of 2015, when […]

Icon and Intel forge partnership for pharmaceutical analytics platform for clinical trials

Icon and Intel have struck an deal that allows Icon to offer the Intel Pharma Analytics Platform in clinical trials. The financial details of the deal were not disclosed. The Intel platform is an edge-to-cloud artificial intelligence platform that allows clinical data to be remotely monitored while it continuously captures data for study participants who

OCTANe announces partnership with Small Cap Nation

Orange County, Calif.–based life sciences accelerator organization OCTANe recently announced a strategic partnership with Small Cap Nation (SCN), a New York City–based financial media content distribution platform. SCN delivers breaking, on-demand news and information related to the domestic and international small-cap sector. It recently opened a Silicon Valley office. “This partnership will open an important source of capital

Cadence snapped up by private equity firm Kohlberg & Co.

Officials at high-precision components and finished devices maker Cadence are selling the Staunton, Va.–based company to private equity outfit Kohlberg & Co. Financial terms of the definitive agreement, announced yesterday, were not disclosed. Cadence makes components and devices for advanced surgical and specialty industrial applications. Cadence CEO Alan Connor will continue to lead the company, and

TT Electonics wraps up acquisition of Stadium Group

TT Electronics (Woking, U.K.) said today that it has completed its purchase of Stadium Group, a Reading, U.K.–based supplier of connectivity products and services, power supplies, human-machine interface (HMI) and electronic assemblies. Financial terms of the deal were not disclosed. Stadium products are used in applications including medical equipment, smart home, industrial robotics and aircraft cabin controls

5 tips to protect your medtech startup’s innovations

Building a strategic patent portfolio is crucial to success for a medtech startup.  David J. Dykeman, Greenberg Traurig When it comes to starting and building a medical device company, a strong patent strategy tied to business goals can be the driving force behind venture capital investment, strategic collaborations, and mergers and acquisitions. In order to

Minnesota digital health companies are raking in the big bucks

Minnesota-based medtech companies raised $112 million in venture capital during the first quarter of this year, according to a report from Medical Alley Association. More than half of the companies that raised VC were consumer-focused healthcare and digital health, a change for the region that is known for its implantable cardio devices and neuromodulation. Investors