Investments in Medical Alley medtech companies, which had dipped in recent years, have made a comeback, according to the Minnesota trade association.
Device companies raised $90 million in the third quarter, pushing the year-to-date total to nearly $200 million raised by 33 companies. Q3’s largest raises in medtech included Urotronic ($26 million, including $20M in Series B funds), 4C Medical ($17 million), and Cardialen ($17 million), continuing a growth trend that began in 2009, Medical Alley said in a statement. Biotech companies broke $100 million in capital raised in a year for the first time in the association’s history. Investment in digital health companies reached $32 million raised in the third quarter for a year-to-date total of $116 million.