From expansions and acquisitions to critical investor funding for future innovations, advancements within the medtech space remain ever-present lately.
Below, you’ll find a roundup of recent developments we’ve been reading about online!
Medical & Tech Innovations
Help is just a heartbeat away. Medtronic has taken a giant step toward solidifying its standing within the cardiac ablation business with the acquisition of Affera, a medtech company specializing in cardiac mapping and navigation systems, as well as catheter-based cardiac ablation. The purchase will help strengthen their ability to provide innovative therapies and added technologies to help treat a rapidly growing population afflicted with cardiac arrhythmia. (MDDI Online)
Keep ahead in the cloud. As digital expansion continues to be one of medtech’s hottest trends, Johnson & Johnson Medical Device Companies has announced its collaboration with Microsoft, who will serve as JJMDC’s preferred cloud provider for the company’s digital surgery solutions. (MDDI Online)
So far, so feasible. Abiomed has reported successful results of the VENUS-HF feasibility study of the precardiac system. Its device is designed to improve decongestion in acutely decompensated heart failure (ADHF) patients. The results support prior findings, prompting Abiomed to double the study group to 60. (MDDI Online)
Sweet partnership combats low blood sugar. Roche Diagnostics USA and Glytec have formed a partnership which will allow the latter’s software to run on the former’s newly launched cobas pulse technology. For hospital providers, this will ensure an electronic management system in order to better manage glycemic conditions patients are in. According to Glytec, the Glucommander software has been proven to reduce severe low blood sugar by 99.8%. (MDDI Online)
Keeping “pace” in Japan. Dublin-based Medtronic’s Micra AV Transcatheter Pacing System (TPS) has won approval and reimbursement from Japan’s Ministry of Health, Labor and Welfare, prompting a full launch of the device. The TPS treats patients with AV block, a condition in which the electrical signals between the chambers of the heart are impaired. (MDDI Online)
Virtual care, real results. Startup HeyRenee has raised $4.4 million from investors to help give people a whole healthcare solution in the form of a virtual personal care assistant. Its platform caters to the underserved or those overwhelmed with chronic illness to relieve the burdens of managing appointments, in-home visits, prescriptions, and other remote patient monitoring. HeyRenee has now completed two rounds of seed funding and has tripled its valuation in just five months. (VentureBeat)
Great memory. Scientists at Lancaster University have discovered a breakthrough with UltraRAM, which could break the divide between RAM (random-access memory) and storage. This may lead to "data storage times of at least 1,000 years," and a fast switching speed and program-erase cycling endurance "100 to 1,000 times better than flash." (Slashdot)
All charged up. Electric Vehicle charging mainstay HeyCharge has raised a $4.7 million seed round led by BMW i Ventures to address the ever growing need for EV charging in underground carparks, where roughly 80 percent of all charging now takes place. Its SecureCharge technology doesn’t require an on-site internet connection (normally a sticking point for underground venues), connecting over Bluetooth instead in a plug-and-play setup. (TechCrunch)
Banking on digital. Answering a fast-growing global trend, UK startup Fintech Farm has raised over $7.4 million earmarked toward launching digital banks in eight different countries over the next 24 months. Next on the list will be credit-hungry Nigeria with the intent of using credit cards to provide cheaper and more accessible options for funds. (TechCrunch)
Work trends in 2022. Writers at HBR have identified 11 underlying trends that they predict will shape how businesses will function in 2022 and beyond. Topics range from addressing remote work issues and vaccination mandates to prioritizing task automation, culture, and wellness programs. (Harvard Business Review)
Going back to market. The US Food and Drug Administration has published transition plans for medical devices granted Emergency Use Authorizations (EUA) status during the coronavirus pandemic. Once a device’s EUA designation expires, full market registration is required to keep it on the US market. The FDA will provide a six-month transition window. (Emergo)
Supply demand. In an effort to prevent shortages of critical medical products during times of crisis, the FDA has announced its plans to make permanent a guidance that requires medtech manufacturers and distributors to notify the agency of supply chain issues during a public health emergency. The guidance was originally established in 2020 and was set to expire with the COVID-19 pandemic health emergency. (MedTech)
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