The medtech industry built off a strong performance two weeks ago with another uptick in the midst of an up-and-down year.
MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week (June 18) at 110.64 points, producing a 0.9% rise from the 109.63-point mark set one week prior (June 11). In all, the industry has risen 3.4% over the past two weeks.
The recent upswing provides a welcome sight after the industry’s progress came to a halt with a -1.4% dip earlier this month. The index looks poised to pick up again as it nears the high points registered when April brought the industry’s all-time best performance.
Even with some recent setbacks, medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry has registered a 19.8% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus a 78.1% increase from the mid-pandemic low of 62.13 (March 23, 2020).
The overall markets went the other way compared to medtech this past week, as the S&P 500 Index fell -1.9% and the Dow Jones Industrial Average fared slightly better, dipping by -0.5%.
Medtech companies continue to rebound from the COVID-19 pandemic more than a year later. Here are some of the major highlights from the past week:
- Hologic completes $795M Mobidiag acquisition
- What medtech’s top executives learned from their dads
- Contract manufacturers fuel medtech expansion in Costa Rica
- MedTech Innovator selects 50 startups for showcase and accelerator program
- Fractyl raises $100M for diabetes reversal tech, renamed as Fractyl Health
- Merck spinoff Organon completes Alydia Health acquisition
- Former FDA commissioner Hahn to join VC behind Moderna
