Having hit a downturn as the summer neared, the medtech industry is now consistently on the rise as June comes to a close.
MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week (June 25) at 113.42 points, producing a 2.5% rise from the 110.64-point mark set one week prior (June 18). In all, the industry has risen 5.9% over the past three weeks.
The recent upswing shows no signs of slowing after the industry’s progress came to a halt with a -1.4% dip earlier this month. The index looks set to close in on the 114.58-point mark set in April, marking 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 22.9% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus a 82.6% increase from the mid-pandemic low of 62.13 (March 23, 2020).
The positive movement in medtech aligns with an uptick in the overall markets this past week, as the S&P 500 Index rising by 2.7% and the Dow Jones Industrial Average fared even better, increasing by 3.4%.
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:
- Smith+Nephew makes a play in remote physical therapy
- Boston Scientific pulls trigger on Farapulse acquisition
- Philips CPAP recall could be an opportunity for ResMed, analysts say
- Medtronic announces first clinical procedure with its Hugo robot
- Vicarious Surgical opens new corporate HQ in Massachusetts
- How contract manufacturer Minnetronix decided to make its own medical device
- Pear Therapeutics to go public via SPAC merger
- Integra Lifesciences CEO steps down to succeed GE Healthcare CEO Murphy
- Second Sight Medical plans to raise $50 million from public offering
- Bigfoot Biomedical diabetes management program rolls out in some U.S. states
- Quanta Dialysis Technologies raises $245M for portable hemodialysis system
- Medical device startup Indago raises $10M, changes name
