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.
Signostics said it landed $35 million from private equity giant KKR for its handheld ultrasound technology.
“KKR offers us the privilege of working with a highly regarded long-term capital partner which will enable us to create next-level innovations and beyond, aimed at greater disruption and democratization of the global ultrasound market,” CEO Kevin Goodwin, who founded SonoSite, said in prepared remarks. “We feel very fortunate to have gained the support of KKR as we set out to build on our work in this field over the last decade.” Read more
Globus Medical said that it’s planning to derive “significant revenue” from its robotics program in 2017 and wants to cross the $1 billion sales mark by 2020.
At its 1st-ever investor day Nov. 12, Audubon, Pa.-based Globus said it expects to post earnings per share of $1.07 on sales of $539 million. The company also said it’s targeting a 13% compound annual growth rate for the top line and a 14% CAGR for EPS over the next 5 years. Read more
ConMed said it agreed to pay $265 million to acquire SurgiQuest, which just last week filed for an initial public offering.
Milford, Conn.-based SurgiQuest makes the AirSeal device for use in minimally invasive abdominal surgeries. AirSeal is designed to insufflate the rectum and provide continuous smoke evacuation. Read more