It’s been a good month for Illuminoss Medical Inc. In less than three weeks, the East Providence, R.I.-based company received U.S. FDA clearance of its new light-emitting diode (LED) console, achieved the 10,000th use of its bone-strengthening technology and presented promising results of research on use of its signature blue light for antimicrobial applications.
A team of inventors from Artarmon, Australia-headquartered Saluda Medical Pty Ltd. including founder and former CEO, John Parker, applied for patent protection for enhancements to the neurostimulation monitoring capabilities of Evoke.
A new wearable “hip-assist” robot developed by Samsung Electronics Co. Ltd. significantly improves gait, balance and dynamic movement in older adults and has the potential to not only enhance physical function but also mitigate the risk of falls.
In a boon to older women worldwide, Bone Health Technologies Inc. received U.S. FDA clearance for its Osteoboost device, which reduces loss of bone strength in postmenopausal women. It is the first device cleared for intervention to slow loss of bone density or osteopenia before it advances to osteoporosis.
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.
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