Medical Technology Q1 round up
No, we can't quite believe it either, but it's the end of Q1 already.
The end of a quarter always has us feeling reflective, so we thought we'd take a look back at what the start of the year has held so far for the Medical Technology sector. From billion pound acquisitions to multi-million pound funding rounds, there's been a lot going on in the space. So let's dive in…
Funding and Acquisitions
GE Healthcare completed the acquisition of AI imaging analysis company MIM software. GE expect to leverage MIM’s imaging analytics and digital workflow capabilities across various different areas of healthcare.
Boston Scientific acquired Axonics for $3.7 billion. Axonics develop neuromodulation systems that are used to treat urinary and bowel dysfunction. To fund this acquisition, Boston Scientific have had to raise funds worth nearly $2.2 billion, so it's safe to say it's not been a small investment! This hopes to improve the ability of urologists to access the tech they need to help treat patients with chronic conditions.
Integer have acquired Pulse Technologies for $140 million, with this acquisition being directly aligned with Integer’s strategy to expand their capabilities and capacity in targeted growth markets.
Olympus have completed their purchase of Taewoong Medical in a deal worth $370 million. This acquisition helps to strengthen Olympus’ gastrointestinal EndoTherapy product portfolio.
Medical Microinstruments Inc. (MMI) have raised $110 million in series C financing, the largest investment ever in microsurgery innovation.
Investors have injected $60 million into AI patient management start up Fabric. The New York based company say the funds will be used to advance its electronic patient care and management software. AI in healthcare is a hot topic, so we'll be watching this one closely.
Product Launches
Stryker expanded their Gamma4 portfolio with the addition of an intermediate nail and an anti-rotation clip with sleeve component. This comes at a time where Gamma4 has reached over 19,000 cases, solidifying it as a leading choice in orthopaedic surgeries.
CMR Surgical have also launched vLimeLite, an integrated fluorescence imaging system to visualise indocyanine green (ICG) which will give surgeons enhanced visualisation. And with their Versius robot having reached the 20,000 case milestone, it'll be interesting to see what they do next.
Philips have unveiled a revolutionary radiation-free imaging tech that uses light to help navigate blood vessels in imaging procedures, instead of relying on X-Ray. This is a huge step forward both in terms of imaging capabilities, and in reducing harmful radiation.
The robots are coming! Siemens Healthineers have developed an automated, self-driving C-arm that will reduce the burden on technologists who've previously had to position the systems manually. It's expected to create 50% time savings during spinal, pelvic and distal radius surgeries.
With all this happening in only the first three months of the year, we'll be watching the market closely to see what the rest of 2024 has in store.
What do you think the biggest news from the space has been this year so far?