NEW DELHI – India’s digital health market is poised to grow rapidly over the next five years propelled by the COVID-19 pandemic, according to two new reports.

COVID-19 stalled clinical trials, halted elective surgeries, and body slammed many med-tech companies’ revenues. Despite that, an industry report released by Ernst & Young (EY) finds that the pandemic also drove some positive changes in the med-tech industry including long-neglected attention to enterprise-wide business continuity.

COVID-19 has prompted dramatic rethinking of supply chains, health care delivery, regulations, and collaboration that are likely to permanently restructure the med-tech industry, according to industry leaders speaking at a panel during the Advanced Medical Technology Association’s (Advamed) Virtual Medtech Conference on Oct. 6. In addition, the significant increase in debt and strong fundamentals position the industry for a burst of M&A activity.

What is the future of med-tech innovation in the wake of COVID-19? That was the question addressed during the Advanced Medical Technology Association’s Virtual Medtech Conference, with members of industry providing some insight. “I think … that this is going to be in many ways a turning point,” changing the way stakeholders look at devices and the evidence supporting them, said Tom O’Brien, of Johnson & Johnson’s (J&J) Ethicon unit.

TORONTO – Toronto-based Oncall Health Inc. has raised CA$7.9 million (US$6 million) in series A funding to help health care organizations lessen COVID-19’s impact on their EMR and other operational programs. An even more ambitious goal, said CEO Nicholas Chepesiuk, is to streamline delivery of virtual health care across a range of small to large U.S.-based organizations “in a way that makes sense for their brand and their workflow.”

Mednax Inc. has inked a definitive agreement through which Radiology Partners will acquire the former's radiology solutions group for $885 million, with an eye toward creating a provider of comprehensive radiology and teleradiology services. El Segundo, Calif.-based Radiology Partners is a physician-owned, on-site radiology practice that partners with about 1,600 radiologists providing services to nearly 1,300 hospitals, clinics and imaging centers across 26 states. When the transaction wraps up, the combined organization, operated under the Radiology Partners name, will include more than 2,400 radiology physicians who provide services in every state plus Washington.

Generex Biotechnology Corp.’s wholly owned subsidiary Nugenerex Health partnered with Worldwide Digitech (WWDT) LLC to create a 50/50 joint venture, Nugenhealth LLC. The new company will draw on WWDT’s software to develop an end-to-end software-as-a-service (SaaS) solution for chronic care management using remote patient monitoring.

Practice growth platform Patientpop scooped up $50 million in a series C financing led by HLM Venture Partners. The new funds are earmarked for telehealth and virtual care solutions to help private practices adapt to a rapidly health care environment and the challenges of seeing and treating patients during a global pandemic.

Tech-enabled diabetes and chronic conditions management company Cecelia Health has secured $13 million in a series B financing led by Rittenhouse Ventures and Endo Investors. Other participants in the round included Boston Millennia Partners, SustainVC and G100 Capital. The funds will be used to speed and further scale adoption of the company’s coaching and telemedicine tools and to build out digital health capabilities.

The COVID-19 pandemic has thrown a wrench in routine medical exams, scaring many patients away from in-clinic visits and diverting resources to coronavirus-related needs. For pregnant women, who require frequent checkups but don’t want to risk infection, this can be a particularly trying time. Now, Israeli startup Pulsenmore Ltd. has launched a hand-held device that lets women perform ultrasounds in their own home and relays the results to a doctor or sonographer for evaluation and feedback.