Elekta (STO:EKTA B) said today that it acquired ProKnow Systems for an undisclosed amount in a move toward cloud-based solutions for advanced radiation therapy. Sweden-based Elekta will have access to ProKnow’s products, namely the ProKnow DS, to offer the cloud-based analytics systems and standardize its practices. The ProKnow DS is designed to allow for analysis of […]
Business/Financial News
Wall Street Beat | Earnings Reports | Funding Roundup | Mergers & Acquisitions | Initial Public Offerings | Legal News
Cerus Endovascular tops $5m funding goal, raises target to $20m
Cerus Endovascular raised its fundraising goal to $20 million this week after it pushed past its previous $5 million target by about $900,000, according to a regulatory filing. The Oxford, U.K.-based company is developing the Contour neurovascular system, which is designed to reduce the risk of rupture when treating patients with intracranial aneurysms. The Contour […]
IotaMotion adds nearly $3m, touts human factors study
IotaMotion said today that it raised nearly $3 million in a second round of funding as it moves toward commercializing its iotaSoft robotic system for cochlear implantation surgery. The Iowa City-based startup raised $2.52 million and said it’s focused on achieving developmental and regulatory milestones on its way to commercialization for the IotaSoft system. The […]
Micron Solutions inks $4m deal with mystery medtech company
Micron Solutions (NYSE:MICR) said yesterday that it received purchase orders from an unnamed medtech company worth nearly $4 million, its largest-ever order. The mystery organization was referred to as a “leading medical technology company” in a release, as it put $3.7 million toward a contract with Fitchburg, Mass.-based Micron Solutions, which produces medical device components […]
Pulmonx touts new coverage for Zephyr valve
Pulmonx said today that its Zephyr valve designed to treat chronic respiratory disease is now covered by Priority Health under a revised lung volume reduction policy. Redwood City, Calif.-based Pulmonx’s Zephyr valves are designed to provide a less-invasive treatment option for emphysema and chronic obstructive pulmonary disease by blocking off the diseased area of the […]
Here’s how Omar Ishrak transformed Medtronic into the world’s largest medtech operation
Omar Ishrak used a series of M&A moves and focus on global markets and value-based care to transform Medtronic (NYSE:MDT) into the world’s largest medical device business in less than a decade. Ishrak is preparing to retire from the corner office next year ahead of the medtech giant’s mandatory retirement age, to be replaced by […]
Mallinckrodt shares fall following loss in patent dispute
Shares in Mallinckrodt Hospital Products (NYSE: MNK) have fallen 19% since a federal appeals court ruled on Tuesday that industrial gas company Praxair did not infringe its patents for a nitric oxide (iNO) delivery system. Nitric oxide gas has long been used to treat infants experiencing hypoxic respiratory failure and Mallinckrodt is the exclusive U.S. supplier […]
Surmodics reaps $10m from Abbott on SurVeil balloon milestone
Surmodics (NSDQ:SRDX) said today that it’s due for a $10 million milestone payment from Abbott (NYSE:ABT) after closing enrollment for the Transcend pivotal trial of its SurVeil drug-coated balloon for treating peripheral artery disease. Abbott in February 2018 paid $25 million up front for the global commercialization rights to the SurVeil device, which uses a proprietary […]
BREAKING: Martha to succeed Ishrak as Medtronic CEO
Medtronic (NYSE:MDT) said today that executive vice president Geoff Martha is slated to succeed Omar Ishrak as CEO next year, ahead of the medtech giant’s mandatory retirement age. Ishrak is slated to assume the newly created executive chairman role April 27, 2020, the Fridley, Minn.-based company said, providing “counsel and guidance to Medtronic’s leadership, oversee […]
Ozop Surgical jumps on Spinal Resources distribution deal
Ozop Surgical (OTC:OZSC) shares got a bump today after the company announced an exclusive licensing deal for implants made by Spinal Resources. West Palm Beach, Fla.-based Ozop specializes in surgical devices for minimally invasive spinal surgery. The company plans to purchase all existing inventory of SRI instruments and implants and use the Fort Lauderdale, Fla.-based […]
LabCorp gets in on $17.5m round for Boston Microfluidics
Boston Microfluidics said today that it raised $17.5 million in Series A funding for its R&D efforts, as first reported by MassDevice.com. Cambridge, Mass.-based Boston Microfluidics produces blood collection devices designed to simplify the blood testing process. Proceeds from the round are slated for continued improvement of its existing product line and the development of […]