In February, Viewray Inc. said it expected to post 25% to 40% revenue growth this year. By April, the company said delays in installations would cut growth to 0% to 15% and it announced it was pursuing strategic alternatives with Goldman Sachs. Less than a month later, on May 10, the company withdrew its guidance entirely citing “the current market conditions and ongoing strategic process.”

Magenta Medical Ltd. has raised $55 million to fast-track the development of the world’s smallest left ventricular assist device (LVAD). The financing round was led by Orbimed Private Investment LLC. With the participation of existing investors, New Enterprise Associates, Pitango VC Ltd. and Alive MS Ltd. “We will use this funding, in particular, to advance the clinical programs in the U.S. towards our first FDA approval,” David Israeli, CEO of Magenta Medical, told BioWorld.

Insulet Corp. once again broke records with a nearly 50% increase in Omnipod revenues in U.S. in the first quarter and a 32% increase in revenue from the tubeless insulin delivery device worldwide. In an unusual move following such positive quarterly results, the company simultaneously announced a major shake-up in the leadership team, with multiple senior members moving to new positions starting July 1. The latest round of musical chairs comes almost exactly a year after the last at the Insulet, when Founder, President and CEO Shacey Petrovic stepped down and Jim Hollingshead assumed the top spot.

Patient Square Capital bankrolled a new portfolio company, Elevage Medical Technologies, with $300 million to provide capital and strategic expertise to promising medical device companies. Evan Melrose, founding managing director of Spindletop Capital and a practicing family medicine physician, will lead Elevage.

Med-tech companies are facing a new reality of high interest rates, inflation, bank failures, and geopolitical turmoil that are impacting financing and M&A opportunities. To secure finance and attract partnership deals they must keep their product simple, focus on proof of concept and ensure that it has quality, delegates at the LSX World Congress in London heard during a panel presentation.