Sinusitis implant company Intersect ENT Inc. has agreed to acquire Fiagon AB Medical Technologies, a manufacturer of electromagnetic surgical navigation systems, for €60 million (US$71.1 million). Under the terms of the agreement, Intersect ENT will pay €15 million at the time of the closing and €15 million annually for the ensuing three years.
Photonicare Inc., which has developed the Tomi Scope for noninvasive imaging of the middle ear, has attracted the attention of investors. It has reported an oversubscribed $5.2 million series A financing led by I2e Management Co. Inc., with OSF Ventures, Sony Innovation Fund and Dreampact Ventures also participating.
PERTH, Australia – Sydney-based Cochlear Ltd. reported its first loss in 25 years due to the COVID-19 pandemic and a patent battle loss in the U.S. For fiscal year 2020, which ended June 30, Cochlear reported a AU$238 million (US$170 million) loss in sales, down 186% from last year’s profit of AU$276 million.
Months after revealing a U.S. FDA nod for the Rhinaer Stylus to treat chronic rhinitis, Aerin Medical Inc. reported the closing of a $48 million equity financing. In addition, the company revealed that Matt Brokaw, who has deep experience in the ear, nose and throat (ENT) space, has come on board as president and CEO.
Envoy Medical Corp. got some early support for its Acclaim fully implantable cochlear implant, with a breakthrough device designation from the U.S. FDA. If approved, it would be the first cochlear implant to address hearing loss without the use of any external components.
Intersect ENT Inc., of Menlo Park, Calif., saw its revenue for the first quarter of 2020 fall to $19.8 million. That figure compares with $26.7 million for the same period last year, with the COVID-19 pandemic having a significant impact on procedures.
PERTH, Australia – Cochlear Ltd., of Sydney, is gearing up to launch its new Remote Check solution for cochlear implant users on the heels of an AU$880 million (US$559 million) capital raise and a patent battle loss that it plans to appeal.
Aerin Medical Inc., an Austin, Texas-based company focused on minimally invasive solutions for chronic nasal conditions, has won U.S. FDA clearance for the Rhinaer Stylus to treat chronic rhinitis. The Rhinaer procedure can be performed under a local anesthetic in an ear, nose and throat (ENT) physician’s office, with no incisions and minimal discomfort.
Ear infections are a common occurrence in kids, causing pain, fever and, in worst cases, hearing loss. Yet up to half of all cases are misdiagnosed, due to doctors’ inability to look deep into the middle ear where infections reside. Now, the U.S. FDA has cleared the Tomi Scope, a first-in-class technology from Photonicare Inc., of Champaign, Ill., that allows doctors to not only detect the presence or absence of fluid in the middle ear but characterize the type of fluid they see.
The screening of at-risk patients for Barrett’s esophagus, a precursor to esophageal cancer, has long been a goal for health systems. Currently, most patients with the condition remain undiagnosed, and more than 90% of individuals are identified after it has progressed into esophageal cancer via endoscopy, according to a 2018 paper in Digestive Diseases and Sciences.