Xandar Kardian Inc. closed a $10 million series A funding round to support the rollout of the company’s contactless health monitoring solution. Phoenix Venture Partners led the round with participation from Portfolia Active Aging & Longevity Fund, Taronga Ventures and others. “With the new financing round, Xandar Kardian looks forward to expanding its core team in Toronto and in the United States, in addition to placing increased emphasis on R&D and mass production for its technologies,” Xandar Kardian co-founder and CEO Sam Yang told BioWorld.
Royal Philips NV has signed an agreement to acquire Vesper Medical Inc., a U.S.-based developer of minimally invasive peripheral vascular devices. The deal expands Philips’s portfolio of technologies for the treatment of deep venous disease. The transaction is expected to be completed in the first quarter of 2022. Financial details were not disclosed.
The Russian Federation is making progress in building its drug supply system and increasing access to medicines and medical devices. In a Dec. 7 update on the progress being made, Minister of Health Mikhail Murashko highlighted the work of the Circle of Kindness fund, efforts to ensure the availability of vaccines and other drugs throughout the federation, and the launch of a labeling system to promote the timely identification of uncertified and counterfeit drugs.
Endovascular stent grafts for abdominal aortic aneurysms don’t generate the fanfare that other circulatory system devices create, but an FDA advisory panel recently made some extensive recommendations regarding postmarket follow up for these devices.
Lumithera Inc. will acquire Diopsys Inc. for an undisclosed amount in an all-stock transaction expected to close in the next few months. The deal has been approved by shareholders of both companies. Together, they plan to form a theranostic company that can provide a continuum of care for patients with age-related macular degeneration and other degenerative ocular diseases or injury.
With its agreement to buy Atos Medical Inc., Coloplast A/S is consolidating its position as a global leader in the chronic care market. Founded in Sweden in 1986, Atos Medical is the largest player for laryngectomy devices, holding a market share of more than 80%. It’s a bold move from the Humlebaek, Denmark-based company as it offers to pay $2.5 billion to acquire the Nottingham, U.K-based company from private equity firm Pai Partners.
TORONTO - Medtronic Canada ULC, a subsidiary of Dublin-based Medtronic plc, has launched what it calls the “the first dedicated robotic assisted spine surgery platform in Canada.” The Mazor integrates surgical planning, workflow and execution by combining navigation and robotic technologies.
India is home to just one of several regulatory entities that have overhauled their med-tech regulatory apparatus in recent years, but the Central Drugs Standard Control Organization (CDSCO) has also joined the COVID-19 regulatory delay club as well.
Arthrex Inc., of Naples, Fla., is well known for lobbing a legal hand grenade into the inter partes review (IPR) process for patent disputes, but the company is now drawing ink for a different legal reason. According to the U.S. Department of Justice (DoJ), Arthrex has agreed to pay $16 million to settle allegations that it engaged in kickbacks to a surgeon, payments ostensibly made to pay for assistance with device design, but which the DoJ claims were intended to induce the surgeon’s use and endorsement of Arthrex products.
The U.S. Centers for Medicare & Medicaid Services (CMS) has withdrawn the proposal to provide automatic Medicare coverage of FDA breakthrough devices, but the proposal may not be as dead as it once seemed.
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