News

German prosthetics company mulls IPO for 2017

German prosthetics company Ottobock is riding the tailwinds of success, scoring FDA clearance earlier this year for a more natural version of its prosthetic hand device. Now, the company is reaching for its next milestone, planning to launch an IPO in the next 2 years to spur development.

Medtronic to snap up startup that aims to prevent a major surgical error for $235M

Medtronic is paying $235 million to purchase RF Surgical Systems, which has a technology that's intended to make it easier to detect and prevent surgical items such as sponges, gauze or towels from being left behind in a patient.

U.S. House passes provision to keep tabs on medical devices used on patients

The U.S. House of Representatives passed a far-reaching medical research bill on Friday that includes an amendment to better monitor the use of medical devices for patient safety. The provision in the bill was a result of the controversy over use of laparoscopic power morcellators.

Aussie startup Orthocell gets grant to grow human tendons in lab

Orthocell has gotten a $430,000 grant from the Australian Research Council to work on growing human tendons in a laboratory setting.

Magic material: Graphene protects chemotherapy, but silver-lined catheters break it down

Catheters designed to deliver chemotherapy are often coated in silver to provide an antibacterial coating. But scientists at the Norwegian University of Science and Technology found that this silver actually breaks down chemotherapy drugs and can release a harmful gas, hydrogen fluoride in the process. 

Aum Cardio raises $5M to back hand-held in-office coronary artery disease Dx device

A startup that's aiming to make the diagnosis of obstructive coronary artery disease part of a physician office visit has raised $5 million as it heads into a European launch of its CADence device. The company, Aum Cardiovascular--named after a Sanskrit syllable that means "to make a continuous low humming sound"--gained a CE mark for the device earlier this year.

Xagenic ropes in $15M for point-of-care testing system

Canada's Xagenic reeled in $15 million in a Series B round to support development of its automated testing system, adding new funds to its pot as it looks to bring its innovative product to market.

Smith & Nephew strikes again, bolstering emerging markets with Russian trauma and orthopedics buy

Orthopedics player Smith & Nephew is rounding out its presence in emerging markets with the acquisition of the trauma and orthopedics business as well as a manufacturing company of the DeOst Group. The Russian company manufactures medical devices and has also served as Smith & Nephew's product distributor in the region since 2009.

CMS to test new reimbursement system for hip and knee replacements in the U.S.

The Centers for Medicare & Medicaid Services (CMS) has announced a 5-year plan to test a new system for how it reimburses hospitals for hip and knee replacement surgeries that currently cost about $7 billion a year.

NBA, GE partner in multiyear deal to advance orthopedics and sports medicine

The National Basketball Association and GE Healthcare have signed a multiyear deal to work together to advance the prevention, diagnosis and treatment of musculoskeletal conditions among NBA players.

BioStar Ventures raises almost $70M for third early stage, med tech fund

Med tech venture capital firm BioStar Ventures has raised $68.8 million in its third fund. This exceeds the sum total of its first two funds, which is $65 million. The firm focuses specifically on medical device and connected health tech in cardiovascular and orthopedic medicine. It expects to invest in 15 to 19 med tech companies via the new fund over the next 5 years.

Philips sells off infant respiratory tech to sleep apnea upstart

Royal Philips has sold its infant respiratory products, apnea monitor SmartMonitor and positive airway pressure device NeoPAP, to Circadiance for an undisclosed sum.

Quanterix eyes IPO to develop blood biomarker testing device

Quanterix is riding high off its recent success, bringing in revenues that beat last year's numbers and scoring new funds to develop its innovative blood biomarker testing device. Now, with new cash in tow, the company is setting its sights on an IPO to spur growth.

One year after IPO, Intersect ENT still going strong--starts pivotal testing, raises $103M

Intersect ENT has more than doubled its share price since an IPO last July. To help fuel its next leg of growth, the company has started pivotal testing for its latest bioabsorbable stent slated to go on the market in 2017 and raised $103 million in a follow-on offering.

Toshiba accounting scandal said to be growing in scope; losses mount

Top officials at Toshiba are under scrutiny as part of an investigation into accounting irregularities that could result in a management overhaul at the Japanese conglomerate, which makes medical imaging devices among many other products, Reuters reported.

Not quite profitable, IPO star K2M cashes out investors with $177M in 2015

Spinal implant player K2M has raised $17 million for itself, while letting shareholders sell $85 million worth of shares, in its latest offering. This is the second follow-on for the company since its May 2014 IPO; last time around this February the company garnered $92 million for selling shareholders and $38 million for its own needs.

Doppel: Another mood-boosting wearable readies for consumers

"Mood ring" could have a whole new meaning with the advent of wearables, as consumer technology starts to roll out that promises mood-altering effects.

Study: Brain scan can be used to distinguish between traumatic brain injury and PTSD

Traumatic brain injury (TBI) and post-traumatic stress disorder (PTSD) have virtually indistinguishable symptoms, yet each requires a different approach for effective treatment. Now, in what is thought to be the largest functional neuroimaging study to date, researchers have identified biological differences between TBI and PTSD by using single photon emission computed tomography to scan the brain.

Molecular device could identify pathogens earlier and more precisely

Researchers have developed a new technique that could enable an earlier and more accurate identification of the presence of a particular bacteria, virus or fungus even when the infection remains only in the respiratory or gastrointestinal tract.

Theranos signs its first health insurer in a deal with Capital BlueCross

Long-stealthy inexpensive diagnostics provider Theranos has announced its first deal to become a diagnostics provider for a major health insurer: Capital BlueCross of Pennsylvania, which has about 1 million members. Last week, the company divulged that the FDA had cleared one of its tests for the first time.