Medtronic continues to invest in product development amid the rapid pace of innovation in the medtech industry, with its engineers creating leadless versions of more complex devices in hopes of converting all its heart devices to leadless over the coming decades, CEO Omar Ishrak said at a meeting of the Economic Club of Minnesota. The company's long-term plan is to meet the definition of a real "artificial pancreas" for its automated insulin pumps and is also looking to make HeartWare and its other heart pumps fully implantable in the body, Ishrak said.
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A round of Series A financing brought in about $24.5 million for Italy-based Medical Microinstruments. The proceeds will be used for advancing the development of the company's teleoperated robotic platform for microsurgery, finalizing product and clinical development, securing CE mark approval and launching its product in Europe.
A round of mixed financing involving one unnamed investor has pulled in $13 million for Marlborough, Mass.-based CardioFocus, an SEC filing showed. The company, which makes the HeartLight direct-visualization ablation device for atrial fibrillation treatment, will use $2.6 million of the proceeds for sales commissions and finder's fees and is still looking to raise $8 million in the round.
Retrofit, a weight management and disease prevention program developer, was acquired by Livongo Health for undisclosed terms -- a move that complements Livongo's diabetes and hypertension programs. Retrofit's Diabetes Prevention program is expected to be released by Livongo as Livongo DPP powered by Retrofit.
The medical device industry in Massachusetts saw growth in venture capital funding last year and raised $3.7 billion from 2014 to 2017, according to a Grant Thornton report. The Bay State also saw more premarket approvals last year and had a 1% increase in medtech employment from 2011 to 2015.
A Global Market Insights report predicts the worldwide market for computed tomography scanners will reach more than $7 billion by 2024, up from $4.7 billion in 2016, because of the growing demand for minimally invasive diagnostic products and the increasing number of chronic disease cases. Canon Medical Systems, Hitachi Medical, Koninklijke Philips, Samsung, Siemens Healthineers, Medtronic, GE Healthcare and Accuray are among the key market players.
Hitachi has developed a tool to enable early-stage breast and colon cancer detection using urine samples, and the developers say it could be used for self-screening without medical assistance. Researchers identified 30 metabolites found in urine that are biomarkers for disease, and they are planning an upcoming trial of 250 urine samples.
The FDA granted Siemens Healthineers clearance for its 128-slice Somatom go.Top and the 64-slice Somatom go.All. The scanners feature the company's Athlon X-ray tube, which allows for individualized dose optimization with voltage that can be adjusted in 10-kilovolt increments and a flexible gantry-mounted injector arm that facilitates contrast injection.
Cantel Medical secured 510(k) clearance from the FDA for its Advantage Plus Pass-Thru automated endoscope reprocessor, a device that provides disinfection for endoscopes. The device, which has the ability to reprocess up to five scopes in over an hour, helps prevent infection by reducing human error through one-way workflow enabled by its pass-through design.
European regulators granted Beckman Coulter Diagnostics CE mark approval for its DxH 520 hematology analyzer, which improves efficiency and resource management in physician office laboratories through automation of daily tasks. The system uses two aqueous-based cyanide-, azide- and formaldehyde-free reagents for eliminating disposal costs, allowing for less time on lab operations and more time for patient care.
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