Medical device giant Covidien is doubling down on emerging markets, expanding an investment program that the company had, at one point, thought would be over by the end of 2013.
On-Q-ity, which raised a $26 million Series A round back in December 2009, quietly folded its tents last year after an unsuccessful bid to develop its technology for personalized cancer detection.
Bruce Booth, a partner at Atlas Ventures, 1 of the VC shops that backed the company (and a member of On-Q-ity’s board), detailed the reasons behind the decision this week on his blog, Life Sci VC.
The merger will expand TranS1’s reach in minimally invasive lumbar spine treatments with Baxano’s iO-Flex spinal decompression surgery system and iO-Tome precision facetectomy instrument.
Silicon Valley-based spinal surgery company Baxano won FDA clearance for its iO-Tome device, which could help surgeons remove the facet joint rapidly and precisely during spinal fusion procedures.
Baxano’s iO-Tome system works with the company’s flagship device, the iO-Flex suite of flexible surgical instruments, for patients that require spinal fusion.
Spinal surgery device maker Baxano isn’t going anywhere, no matter what the blog-o-sphere says.
Privately held Baxano develops minimally invasive tools for use in spinal decompression and fusion surgeries.
Its flagship device, the iO-Flex system of flexible surgical instruments, allows for decompression of up to 4 nerve roots through a single point of access.
Angioplasty balloon maker r4 Technologies wins FDA approval
Maple Grove, Minn.-based r4 Technologies landed FDA approval for its Vector percutaneous transluminal angioplasty balloon catheters, which come in 28 different sizes.
Opponents of the impending 2.3% medical device tax seem to be getting louder, as their voices appear in more news outlets and in more contexts as the levy looms in the near future.
The tax, contained in President Barack Obama’s landmark Affordable Care Act, aims to raise about $20 billion over the next 10 years from medical device manufacturers in order to pay for health care reform.