6. Medtech IPOs and M&A continue
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Top stories on MassDevice in 2020 included the Butterfly Network’s announcement in November that it had entered into a definitive business combination agreement and would go public with Longview Acquisition Corp. Butterfly is developing the Butterfly iQ system, a transducer that uses semiconductor technology to perform whole-body imaging using a single handheld probe.
Other notable IPOs included Outset Medical, maker of the all-in-one Tablo hemodialysis system. Outset raised nearly $278 million.
Meanwhile, a major acquisition closed in the orthopedics space as Stryker completed its $4.7 billion purchase of Wright Medical, selling some of its arthroplasty systems to DJO to appease antitrust regulators in the U.S. and UK. Another major medtech M&A deal — Siemens Healthineers’ $16.4 billion acquisition of Varian Medical Systems — is slated to close in the first half of 2021, creating what the companies say will be the most comprehensive cancer care portfolio in the industry. – CN
