Nanosphere Inc. (NASDAQ: NSPH) stock jumped 69.38 percent (51 cents) to close at $1.29 Monday after Luminex Corp. (NASDAQ: LMNX) agreed to buy the company for roughly $58 million in cash ($1.35 a share). Luminex shares went up too, but just by 1.53 percent (30 cents) to $19.93.

People with diabetes are at risk of developing diabetic retinopathy (DR), a condition that can eventually cause blindness, but manual screening for DR is inefficient, given how large the at-risk population is. The solution, according to a recent large-scale U.K. study, is automation.

Revenue growth in both neurovascular and peripheral vascular products drove Penumbra Inc. to beat analyst expectations in the first quarter. The Alameda, Calif.-based company reported total revenue of $57.9 million in the quarter (up 48.7 percent, or 51.0 percent on a constant currency basis), exceeding consensus of $53.1 million. Penumbra said revenue from sales of neuro products grew 30.4 percent (or 32.8 percent on a constant currency basis) to $41.3 million and peripheral vascular product sales grew 127.9 percent (or 130.0 percent on a constant currency basis) to $16.6 million in the first quarter.

Heartware International may be an unintended beneficiary of the proposed mega-merger between Abbott Laboratories and St. Jude Medical Inc., according to at least one analyst. Jason Mills, of Canaccord Genuity Inc., said in a research note the deal is positive for Heartware because it creates a more level playing field in the left ventricular assist device (LVAD) market and it will make Heartware a more attractive asset for other players looking to compete against the combined Abbott-St. Jude entity across the cardiovascular space.

After launching four venture-backed, single-product companies that all made it to market in 18 months or less with modest amounts of capital, two surgeons-turned-entrepreneurs have transitioned their business to a multi-product, public medical device company. New York-based Pavmed Inc. (NASDAQ: PAVMU) made its public debut late last week with an initial public offering of 1,060,000 units.

The recent outbreak of the Zika virus has lit a fire under government agencies and the diagnostic industry to develop tests to battle the spread of the virus. Taking a big step in that direction, the FDA authorized emergency use of a molecular test developed by a Quest Diagnostics subsidiary that the company plans to make broadly accessible to U.S. doctors, including Puerto Rico.