Medtronic plc agreed to acquire Eoflow Co. Ltd., the manufacturer of Eopatch, a tubeless, wearable and fully disposable insulin delivery service, for $738 million. The deal, which is expected to provide a significant boost to Medtronic’s beleaguered diabetes unit, is slated to close in the second half of 2023. The deal announcement coincided with Medtronic’s release of its fourth quarter results for fiscal 2023. Read More
Boston Scientific Corp., has announced that it has abandoned its plans to acquire M.I. Tech Co. Ltd., of South Korea after opposition was announced by the U.S. Federal Trade Commission (FTC). The FTC lauded the news with a May 24 statement that cited the agency’s cooperation with other national regulatory authorities as a factor in scotching the proposed acquisition, the second time in recent weeks that government agencies have grounded mergers and acquisitions in the med-tech space. Read More
The U.S. FDA has awarded Locate Bio Ltd. a breakthrough device designation for its Ldgraft spine fusion product for the treatment of degenerative disk disease, paving the way to the first in human study later this year. Read More
Reddress Ltd. secured $26 million in a series D financing aimed at further advancing its autologous, point-of-care wound management solution. The funds will be used to grow uptake of its Actigraft product suite, pursue global partnerships and expand its blood-based technology to treat more conditions. Read More
Researchers from the French institute of health and medical research (INSERM) and the University of Bordeaux, France, have developed an artificial intelligence (AI) tool to leverage hospital data for trauma patients. They have published results for a new algorithm capable of classifying trauma-related emergency room visits in the Journal of Medical Internet Research – Artificial Intelligence. “Thanks to this new AI tool, we have generated highly accurate data that allows us to accurately classify the mechanisms of trauma, which represent one third of emergency room visits in France,” said Gabrielle Chenais, research specialist and data scientist at the Bordeaux Population Health (BPH) Research Centre. BPH is a research body run by INSERM and the University of Bordeaux. Read More
Med-tech happenings, including deals and partnerships, grants, preclinical data and other news in brief: Cytek Biosciences, Flowmetric, Nox Health, Pear. Read More
Regulatory snapshots, including global submissions and approvals, clinical trial approvals and other regulatory decisions and designations: Kane Biotech. Read More
