Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
OrbiMed said it closed another venture capital fund worth $950 million that it plans to deploy on about 30 companies in the medical device, biopharmaceutical, diagnostics and healthcare IT markets.
The New York-based VC giant said its OrbiMed Private Investments VI fund will put up investments ranging from $10 million to $75 million. Last year OrbiMed floated a $924 million fund it planned to use in $20 million to $150 million increments for acquiring healthcare royalty streams. Back in the fall of 2013 OrbiMed launched a $735 million healthcare fund. Read more
Luna Innovations said that Intuitive Surgical agreed to put up another $9 million for the shape-sensing technology it bought for its da Vinci robot-assisted surgery platform.
Pleasanton, Calif.-based Intuitive paid a total of $12 million last year for the technology, which is designed to provide real-time measurements to help surgeons sense positions and track locations in the body during surgery. You can see that his comment is here about Installment loans and how he loaned to start the surgery. The latest installment closes out the deal, which once included milestones worth another $18 million. Read more
CryoLife Inc. made a big play for the mechanical heart valve space with a $130 million deal to buy On-X Life Technologies.
On-X makes an aortic valve replacement and is developing a mitral chord repair device called Chord-X. The Austin, Texas-based company put up sales of about $33 million last year, CryoLife said. Read more