Investors bailed on many med-tech companies last year, fearing that the frenzy surrounding GLP-1 agonists would tank companies in the weight-loss, diabetes and orthopedics segments. Their concerns now appear overblown in many instances, with some of the most directly affected businesses reporting a “rising tide” associated with an increased focus on obesity treatment that has lifted their boats rather than sinking them.
Researchers from three California-based institutions are seeking patent protection for systems, devices and methods that allow brain-controlled limb movement and sensation.
Renovos Biologics Ltd. was granted a U.S. FDA breakthrough device designation for its Renovite BMP-2 (bone morphogenetic protein-2) product, which is designed for interbody spinal fusion.
Asia continues its push to be the global leader with precision health and artificial intelligence/machine learning (AI/ML) models for diagnosing disease. Most health care systems in Asia’s major markets include universal health care coverage and are leaning toward electronic health records, paving the way for seamless use of data. At the same time, AI/ML is making its way across the entire health care spectrum, including applications to diagnose breast cancer, kidney disease, cognitive decline, depression and even retinal imaging to detect cardiac disease.
Zimvie Inc. will sell its spine business to private equity investor H.I.G. Capital for $375 million, a move that should clean up its balance sheet and allow it to focus on the more profitable dental business. The deal is structured as $315 million in cash plus a promissory note for $60 million with an interest rate of 10%, compounded semi-annually.
Nevro. Corp. closed the acquisition of privately held Vyrsa Technologies Inc., adding the company’s V1 implant for sacroiliac (SI) joint fusion to its product line for chronic pain. Nevro paid $40 million at closing and agreed to up to $35 million in additional payments contingent on the achievement of certain development and sales milestones.
Rewalk Robotics Ltd. has integrated advanced sensing technologies and artificial intelligence (AI) into its latest exoskeleton prototype to enable autonomous decisionmaking. This milestone, coupled with Rewalk’s capabilities, holds enormous potential to create a new generation of exoskeletons that are more intuitive and respond to real-world conditions that users encounter daily, Rewalk CEO Larry Jasinski told BioWorld.
Smith+Nephew plc struck a deal to acquire Cartiheal Ltd. for $180 million at closing and $150 million in contingent payments, seven months after Bioventus Inc. backed out of its agreement to buy the developer of the Agili-C cartilage regeneration platform for $450 million.
There’s nothing scary for Ametek Inc. shareholders in the $1.9 billion acquisition of Paragon Medical Inc. announced on Oct. 31, 2023. The deal moves the industrial technology company solidly into the med-tech space as it picks up Paragon’s portfolio of products in orthopedics, minimally invasive surgery, robotic surgery and drug delivery, and adds an estimated $500 million per year in revenue and “very strong EPS accretion,” Ametek CEO David Zapico said in an investor call on Oct. 31.
The North American Spine Society Annual Meeting provided a positive view of one area in orthopedics that may be immune from the effects of widespread use of GLP-1 medications. Recent data indicates volumes and seasonality have finally recovered from pandemic impacts. Major trends discussed at the conference included expanded use of robotic systems, increased customization and adoption of augmented reality technology.
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