ValenTx raises $10.3 million for implantable gastric bypass device

Startup ValenTx has attracted nearly $10.3 million from 32 investors, according to a filing with the Securities & Exchange Commission. The Maple Grove, Minn. company is developing a removable gastric bypass device as an alternative to Roux-en-Y gastric bypass surgery. It raised $10,271,050 in the round begun July 18, 2018. The ValenTx endoluminal bypass therapy

Avinger posts loss on disappointing sales

Avinger (NSDQ:AVGR) today posted a second-quarter losses-per-share that missed an analyst’s expectation, sending its share price down on Wall Street despite nearly halving its losses. The Redwood City, Calif.-based medical device maker reported losses of -$6.6 million, or -98¢ per share, on sales of $2.1 million for the three months ended June 30, 2018. That compares with

Inside Hologic’s evolving definition of women’s healthcare

Hologic (NSDQ:HOLX), known in the medtech industry for its mammography and diagnostics devices, is rethinking what it means to be a women’s healthcare company. The 6,000-person company wants to expand its reach to include products that care for women’s well-being, as well as their health – a concept that Dr. Edward Evantash honed when he led

Medpace prices $248m secondary offering

Medpace (NSDQ:MEDP) today priced an upcoming secondary offering which could bring in up to approximately $247.5 million. In the offering, the Cincinnati-based company said that investment funds affiliated with Cinven Capital Management will offer approximately 4.5 million shares of its stock at a price of $55 per share. Read the whole story on our sister site,

Surmodics’ acquisition hits earnings bottom line

Surmodics (NSDQ:SRDX) today posted earnings that beat expectations on Wall Street and adjusted its guidance for the remaining year. The Eden Prairie, Minn. company took an expected hit to earnings due to its $5 million-plus acquisition of Embolitech’s thrombectomy platform. Surmodics posted a net loss of -$2.68 million compared with a profit of $720 million

Samsung’s NeuroLogica wins $250m US DoD radiology supply contract

Samsung Electronics (LON:BC94) subsidiary NeuroLogica won a $250 million maximum firm-fixed-price contract to supply the US Dept. of Defense with radiology systems, accessories and training, according to a newly posted release. The contract for the Danvers, Mass.-based subsidiary is located in Massachusetts and has a five-year base and an additional five-year option period, according to the

Digirad nudges share price up on stronger sales

Digirad (NSDQ:DRAD) met an analyst’s earnings expectations and beat the sales forecast, sending share prices up slightly today. Suwanee, Ga.-based Digirad posted net losses of -$350,000 or -2¢ per share on sales of $27.1 million for the three months ended June 30, cutting its losses by -80.2% on sales growth of 4.1% compared with Q2 2017.

Sensus squeaks past Wall Street Q2 expectations

Sensus Healthcare (NSDQ:SRTS), narrowly beat analysts’ earnings expectations for the second quarter but missed the consensus sales forecast, sending share prices down today. Boca Raton, Fla.-based Sensus posted net losses of -$540,651, or -4¢ per share, on sales of $6.1 million for the three months ended June 30, cutting its losses by -29.2% on sales growth

Integer misses Wall Street mark in Q2

Integer Holdings (NYSE:ITGR) earnings for the second quarter fell below Wall Street estimates. The Frisco, Texas-based medical device contract manufacturer posted profits of $23 million or 70¢ per share, on sales of $314 million for the three months ended June 29. Earnings per share were 18¢ behind the average estimate on Wall Street, where analysts were looking

TE Connectivity beats the Street on Q3 results

TE Connectivity (NYSE: TEL) today reported that revenue was up 12% and adjusted earnings per share were up 15% year-over-year during the company’s third quarter — beating analysts’ predictions. TE earned $454 million, or $1.29 per share, off $3.8 billion in sales during the quarter ended June 29, up from $435 million, or $1.22 per

House votes (again) to repeal medical device tax

The House voted 283 to 132 this week to repeal the 2.3% tax levied upon medical devices as part of the Affordable Care Act. The medical device tax, which has long been decried by the industry as a measure that squashes innovation and kills jobs, has been on hold since 2014. The tax’s moratorium was extended

Medtech companies raised more than $738 million in Q2

Venture capital firms invested more than $738 million during the second quarter of 2018, $1 million less than the first quarter of this year, according to the MoneyTree Report from PricewaterhouseCoopers (PwC) and CB Insights. There was a total of 61 deals during Q2, an increase from the 48 that the industry saw during Q1.

8 crowdfunded health devices you need to know

Companies including 3M and Aura Medical are turning to the popular websites Kickstarter and Indiegogo to get their ideas crowdfunded by people who want them to come to life. The idea behind a crowdfunding website is that if you back the project and donate a certain amount of money, you’ll get something in return, oftentimes

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Here are the top 5 medtech stories of mid-2018

A growing U.S. trade war with China and other countries casts a pall on medtech — and U.S. business in general — in mid-2018. The landscape of the medical device industry continues to evolve, though. There’s a major corporate spinout in the works, as well as a mega-merger that apparently was not to be. Read

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Medline buys Canadian stroke rehab device maker NeuroGym

Medline has acquired physical therapy and rehabilitation equipment maker NeuroGym Technologies of Ottawa, Ontario. NeuroGym’s equipment is designed for people who have had a stroke or other traumatic brain injury, spinal cord injury, chronic neurological conditions such as multiple sclerosis, balance issues and/or the need for fall prevention therapy. The equipment requires the patient to initiate