Global MedTech Industry Weekly Review – May 8, 2023

Weekly review of Global MedTech industry, presented by G-MedTech.

Products

NANO-X IMAGING has received FDA clearance of Nanox.ARC, a stationary X-ray system intended to produce tomographic images of the human musculoskeletal system adjunctive to conventional radiography on adult patients.

Abbott’s FreeStyle Libre® 3 sensor is authorized to work with Ypsomed’s mylife™ YpsoPump and CamDiab’s CamAPS FX mobile app for Type 1 diabetes management in the UK.

Medtronic receives FDA approval for Micra™ AV2 and Micra™ VR2, the world’s smallest leadless pacemakers providing longer battery life and easier programming.

Johnson & Johnson MedTech receives UKCA Mark accreditation from the British Standards Institution for DePuy Synthes’ VELYS™ Robotic-Assisted Solution for use in total knee arthroplasty.

Strategy

DuPont is to acquire Spectrum Plastics Group from AEA Investors for $1.75 billion. Spectrum is a recognized leader in advanced manufacturing of specialty medical devices and components, serving 22 of the top 26 medical device OEMs with a strategic focus on key fast-growing therapeutic areas such as structural heart, electrophysiology, surgical robotics and cardiovascular.

Zimmer Biomet is to acquire OSSIS, a New Zealand-based company specializing in personalized 3D printed implants and complex hip replacements.

Probo Medical has completed its acquisition of the MRI coil repair operation from Michigan-based Creative Foam.

Stryker has completed the acquisition of Cerus Endovascular, a privately held medtech company engaged in the design and development of neurointerventional devices for the treatment of intracranial aneurysms.

TTG Imaging Solutions announces the acquisition of Suwanee-based Digirad Health from Star Equity Holdings.

Financing

Magenta Medical announces a $55 million financing round led by OrbiMed, to advance the clinical programs of its percutaneous Left Ventricular Assist Device heart pump in the United States.

Healthy.io closes $50 million series D financing led by Schusterman Family Investments, to expand Minuteful Kidney™, its clinical-grade kidney test and patient engagement service, across the U.S. market.

Hygieia extends series B financing to $22 million led by Firstime Ventures. Hygieia has the FDA-cleared technology d-Nav® to autonomously adjust insulin dose recommendations to correspond to a patient’s changing insulin needs.

Surgical Safety Technologies closes $15 million series A funding led by U.S. Venture Partners and Santé Ventures, to accelerate its automation initiatives and commercial efforts. SST’s platform leverages AI both to inform real-time decision making and provide analytical insight in the areas of safety, compliance and efficiency, which drastically improves patient outcomes and reduces hospital costs.