Italian medical device maker Sorin Group (BIT:SRN) invested in early-stage company Enopace Biomedical to fund the development of a neuromodulation system for patients with congestive heart failure.
Enopace’s technology consists of an implantable neurostimulator that increases heart efficiency by reducing the workload placed on the left ventricle. Sorin Group’s $7 million investment will finance clinical studies and ongoing product development.
"Through Enopace Biomedical, Sorin Group will support the development of a unique medical device solution for today’s most urgent, unmet clinical need. This segment represents one of the largest and fast-growing market opportunities in the medical device field" said Sorin Group CEO André-Michel Ballester in prepared remarks.
Earlier this month, Sorin subsidiary ELA Medical reached a tentative$10 million settlement with the U.S. Justice Dept. over an alleged kickbacks scheme to drive pacemaker sales.
Here’s a roundup of other companies announcing mergers, acquisitions and divestitures.
- Orion Health inks deal with Microsoft
Orion Health Asia Pacific signed a deal to acquire the Microsoft software suite formerly known as Amalga HIS and Amalga RIS/PACS.
- Trivitron acquires minority stake in Kiran Medical Systems
Med-tech provider Trivitron health made an investment in Kiran Medical Systems Ltd. for an undisclosed minority stake.