Once again, the medtech industry has soared to new heights, eclipsing its all-time best performance by the tiniest of margins.
MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week (July 2) at 114.59 points. It was just 0.01 points ahead of the 114.58-point mark set in April — previously the industry’s all-time best performance.
The new high mark also represents a 1% rise from the 113.42-point total reached last week (June 25). The industry took a strong June into July, rising nearly 7% over the past four weeks.
Having overcome 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 24.1% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus an 84.4% 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 1.7% and the Dow Jones Industrial Average faring more similarly to medtech with an equal 1% rise.
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:
- 7 companies using robot-assisted surgery to transform orthopedics
- Medtronic announces executive leadership changes
- Teleflex completes respiratory asset sale to Medline
- EchoNous raises $60M for AI-guided ultrasound
- CMR Surgical raises $600M to expand Versius robot commercialization
- Belluscura is back with an IPO in the U.K.
- Medtronic breaks ground on $200M campus in Colorado
- NeuroPace wins five-year $9.3M grant from NIH
- Outset Medical CFO to leave, interim replacement named