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
OCTANe announces partnership with Small Cap Nation
April 19, 2018 By Leave a Comment
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
Minnesota digital health companies are raking in the big bucks
April 17, 2018 By Leave a Comment
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
Medtech companies raised more than $839 million in Q1
April 16, 2018 By Leave a Comment
Venture capital firms invested more than $839 million in medical devices and equipment companies during the first quarter of 2018, an increase of more than $338 million from the last quarter of 2017, according to the MoneyTree Report from PricewaterhouseCoopers (PwC) and CB Insights. There was a total of 48 deals during Q1 this year,
Reimbursement is key to Inspire Medical’s strategy
April 12, 2018 By Leave a Comment
Inspire Medical Systems is seeking to shake up sleep apnea treatment with a pacemaker-like system to treat obstructive sleep apnea; it even has plans for an $86 million IPO. How the company is trying to get its device reimbursed is a great example of just how much things have changed for young medtech companies. In
How CHF Solutions is using health economics to expand product adoption
April 10, 2018 By Leave a Comment
Two years after CHF Solutions (NSDQ:CHFS) acquired Baxter‘s (NYSE:BAX) Aquadex fluid filtration device for $5 million, the company’s executives are working to weave together the evidence they need to land reimbursement in the U.S. and expand patient access for its technology. The Aquadex system is designed to filter water and salt from patients experiencing fluid overload due
Why medtech needs innovations in the law department to protect intellectual property
April 9, 2018 By Leave a Comment
Cindy S. Ahn, Longford Capital Here’s the scenario: after investing millions of dollars and years of resources in R&D, your company has received approval to market your cutting-edge medical device. If your flagship device does not establish a strong foothold on the market, the enterprise will likely be doomed and your investors will lose most,
RxFunction raises $7.5 million for its wearable sensory prosthesis
April 4, 2018 By Leave a Comment
Medical wearable startup RxFunction (Eden Prairie, Minn.) announced today that it has raised $7.5 million in Series A funding as it prepares for market launch of its Walkasins wearable sensory prosthesis. The round, which surpassed RxFunction’s initial $5 million funding goal, was led by Edina, Minn.–based Cedar Point Capital, a boutique investment banking firm. The
Masimo expected to grow through 2025 as it branches out, analyst says
March 16, 2018 By Leave a Comment
Masimo (Nasdaq: MASI) should enjoy growth through the middle of the next decade, thanks to its exploration of opportunities outside its core market that are more driven by hospital automation, according to a new equity research report out of Barclays. Masimo is on track to having 8–10% top-line growth and 12–15% earnings per share growth through
Optum CEO Renfro steps down to lead expanded investment fund
March 16, 2018 By Leave a Comment
In a major personnel shift, UnitedHealth Group announced this week that Larry Renfro, CEO of its subsidiary Optum, will step away from the corner office to become managing partner of Optum Ventures and its expanded $600 million investment fund. Ex-GlaxoSmithKline chief executive, Andrew Witty, will take Renfro’s place as CEO of Optum on July 1,
K2M leads the pack with 3D printing for spine, analysts say
March 16, 2018 By Leave a Comment
K2M (Nasdaq: KTWO) continues to lead the 3D printed spine device market with its new 3D printed Mojave expandable cage and its Cascadia family of 3D printed implants, according to a new equity research report out of Barclays. Leesburg, Va.–based K2M presently has a 3D printed portfolio with 10 approved products making up about 12%
SEC charges Theranos, CEO Holmes with ‘massive fraud’
March 14, 2018 By Leave a Comment
The US Securities and Exchange Commission today charged controversial blood-testing developer Theranos, founder & CEO Elizabeth Holmes and former prez Ramesh Balwani with “massive fraud” – charges which Theranos and Holmes have agreed to resolve, according to the SEC. Charges include claims that the company raised more than $700 million from investors in “an elaborate,
Medtech’s existential crisis and how it can survive
March 13, 2018 By Leave a Comment
Executives in medtech and other life sciences companies view digital health startups and high tech giants as an existential threat. To compete, they’re going to have to invest in or acquire customer engagement and personalization skills usually associated with online retailers and social networking sites, according to a new report out today from EY. The
5 trends that could affect medtech in 2018
March 9, 2018 By Leave a Comment
Antoine Baschiera, Early Metrics The rapid advancement of innovation today is propelling fundamental changes in all industries. Among them, the health and medtech sectors are ones that will be transformed drastically in the coming years. The medical devices and technology market will reach $500 billion in sales by 2021, according to a new analysis from Evaluate.
This medtech CEO led his company to a $200 million buyout
March 8, 2018 By Leave a Comment
Guiding a company through a merger or an acquisition can test a CEO’s leadership skills. Here’s how NinePoint Medical CEO, Christopher von Jako, led his former medtech company, NeuroTherm, through a deal with St. Jude Medical. When Christopher von Jako assumed the corner office at NeuroTherm in 2013, the company had gone through two other
