Major medtech companies are making tuck-in acquisitions and investments as they seek innovations to help them grow out of the COVID-19 pandemic and resulting recession.
That was a major takeaway from our top stories on MassDevice over the past week.
Want to hear more about the week’s top news? Executive editor Chris Newmarker and Tom Salemi will discuss the week’s “Newmarker’s Newsmakers” during our DeviceTalks Weekly podcast.
Without further ado, here’s this week’s MassDevice Top Five:
5. BD wins CE mark for 15-minute COVID-19 diagnostic test
Becton Dickinson (NYSE:BDX) says its rapid, point-of-care SARS-CoV-2 antigen test — used on the BD Veritor Plus system — delivers results in 15 minutes on a portable instrument to allow for on-site results and decision making, according to a news release. Read the full story.
4. Boston Scientific launches aortic valve system in Europe
Boston Scientific (NYSE:BSX) began a controlled launch of its Acurate neo2 aortic valve system in Europe. The next-generation transcatheter aortic valve implantation (TAVI) technology is designed to improve upon the original version of the Acurate neo platform. Read the full story.
3. Coloplast invests $4M in Francis Medical
Urological cancer treatment developer Francis Medical has received a $4 million equity investment from Coloplast (CPH:COLO-B). Minneapolis-based Francis Medical develops ablation technology designed to apply thermal energy stored in sterile water vapor to deliver targeted treatments to the cancerous tissue in a transurethral procedure. Read the full story.
2. Smith+Nephew to buy Integra extremities business for $240M
Smith+Nephew has agreed to acquire the extremity orthopedics business from Integra LifeSciences (NSDQ:IART) for $240 million. London-based Smith+Nephew said in a news release that the acquisition will significantly strengthen its extremities business by adding a combination of a focused sales channel and complimentary shoulder replacement and upper and lower extremities portfolios, plus a new product pipeline. Read the full story.
1. Medtronic to acquire Avenu Medical
Medtronic (NYSE:MDT) announced today that it plans to acquire endovascular arteriovenous (AV) fistulae creator Avenu Medical. Terms of the transaction were not disclosed by the medtech giant or the soon-to-be acquired San Juan Capistrano, Calif.-based company, which focuses on the endovascular creation of AV fistulae for patients with end-stage renal disease (ESRD) undergoing dialysis. Read the full story.
The week also closed out with Medtronic acknowledging that it is under investigation by the federal government for actions that Covidien took years ago that allegedly limited competition in the ventilator business. Medtronic acquired Covidien for $50 billion in 2015.