Drug adherence player HealthPrize Technologies closed a Series B financing for an undisclosed amount. The company currently uses a "gamification" approach to push drug adherence, but plans to expand into other sectors of the healthcare industry.
Minimally invasive player SI-Bone picked up $20 million in a financing round led by Arboretum Ventures. All of its major existing investors also participated.
Med tech companies have found only one reliable way to boost sales--that's to buy them. The only players with sizable sales increases last year were driven by major acquisitions, according to data from Evaluate Medtech.
Australian device company AirXpanders has raised AU$20 million (US$15 million) in a private placement in anticipation of an FDA clearance--and subsequent U.S. launch in the first quarter of 2017--for its novel tissue expansion tech for women undergoing breast reconstruction after mastectomy.
While there have been a smattering of biotech IPOs this year, med tech IPO activity has remained quiet. But that's changed quickly--with a $91 million IPO for precision medicine player NantHealth and another $50 million IPO for drug-device ophthalmic company Clearside Biomedical pricing on June 1.
Implantable pump maker Flowonix Medical announced $15.5 million in financing on Wednesday, including $5 million in venture term debt financing and a $10.5 million investment, led by Clarus Ventures and other existing investors.
Connecticut-based spinal device maker Spine Wave announced Tuesday the closing of a new financing round totaling $11 million. The round was led by existing investors New Enterprise Associates, which has also led three previous rounds, and Acadia Woods.
Royal Philips has made moves on a couple of fronts this week. It launched its heart attack test for its handheld diagnostic device after gaining a CE mark. And it also successfully executed an IPO for its lighting business that valued the company at almost $4 billion.
Intuitive Surgical is still fighting to establish robot-assisted surgery as legitimate. The latest issue has been raised by its own liability insurers, Illinois Union Insurance and Navigators Specialty Insurance. They are alleging in a federal lawsuit that Intuitive Surgical hid cases of patient injury when it was applying for insurance coverage.
Varian Medical Systems' share price is virtually unchanged from two years ago. That's despite the growing consensus that its proton therapy offers more precise and less toxic treatment for cancer patients than traditional radiation. It's now planning to spin off its imaging components business to help unlock some of that value.