MassDevice Archives - Page 70 of 587 - Medical Design Sourcing

Hearing loss tech developer Envoy goes public in SPAC deal

Anzu Special Acquisition Corp. and Envoy Medical announced last week that they completed a previously announced business combination.

The combination with Anzu, a special purpose acquisition company (SPAC) results in Envoy becoming a publicly listed company. It continues to operate under the name Envoy Medical. The company’s common stock commenced trading on the Nasdaq market on Oct. 2 under the COCH ticker.

SPAC deals have proven to deliver varying results — this year, we looked at some of medtech’s mergers and how they fared.

White Bear Lake, Minnesota-based Envoy develops hearing health technologies across the hearing loss spectrum.

Last year, Envoy received FDA investigational device exemption (IDE) for its Acclaim cochlear implant. Acclaim is a first-of-its-kind cochlear implant designed to be fully implanted using the ear, rather than a microphone, to pick up sound. The design leverages the natural anatomy of the ear to capture s…

Organ transplant tech developer Paragonix opens new U.S. HQ

Paragonix Technologies announced today that it opened its new corporate headquarters in Waltham, Massachusetts.

The organ transplant tech company says its expansion reflects continued growth and its commitment to serving clinicians and patients worldwide. Paragonix’s facility features state-of-the-art R&D laboratories and collaborative spaces. It aims to foster innovation and teamwork across departments in the evolving field of organ transplantation.

According to a news release, the 34,000-square-foot center serves as a consolidated hub of Paragonix’s diverse operations. The company highlighted its location in what it called “the vibrant technology corridor” of Greater Boston. Moving headquarters comes during a phase of accelerated growth for Paragonix, too.

The company said it designed the facility’s capacity to meet escalating customer demand and accommodate future expansion. Paragonix also plans to continue to grow it…

Butterfly Network, Razom expand partnership to bring more handheld ultrasound to Ukraine

The Butterfly Network IQ+ system [Image courtesy of Butterfly Network]Butterfly Network (NYSE:BFLY) announced today that it partnered with Razom to bring additional handheld ultrasound devices to Ukraine.

Razom, a U.S.-based nonprofit, offers support to Ukraine. The company considers itself a leader in driving point-of-care ultrasound (POCUS) training and utilization there.

To date, it already deployed more than 400 Butterfly iQ+ handheld ultrasound devices in the country. The expansion of this partnership with Butterfly Network brings an additional 200 of those devices to the frontlines.

Butterfly IQ+, a transducer system, uses semiconductor technology to perform whole-body imaging using a single handheld probe. The company’s proprietary Ultrasound-on-Chip technology powers the system. It connects to a mobile device and uses AI to deliver advanced imaging.

“At Butterfly, improving access to ultrasound technology in austere, under-resourced or …

Microsure raises $40M to advance microsurgical robot

The MUSA-3 surgical robot. [Image courtesy of Microsure]Microsure announced today that it successfully closed its Series B2 investment round, securing nearly $40 million (€38 million).

Eindhoven, The Netherlands-based Microsure plans to use the funds to finalize the development of its newest microsurgical robot. It intends to progress its MUSA-3 robot through clinical studies, then subsequent FDA clearance and CE mark approval.

The company designed MUSA-3 to “revolutionize the field of open microsurgery,” according to a news release. It offers surgeons precision, stability and control beyond human capabilities, the company says. The system builds upon its previous generations — the MUSA-2 robot.

MUSA-3 offers enhanced dexterity, a wider workspace and tremor reduction for enhanced precision. It integrates seamlessly with surgeons’ existing preferred micro-instruments from different brands. The system’s adaptability also enables its us…

Fast Five: Private equity firm reportedly in talks to acquire Medtronic business units, Baxter taps food service vet as CFO

Welcome to the MassDevice Fast Five medtech news podcast, the show that keeps you up-to-date on the latest breakthroughs in medical technology. Here’s what you need to know for today, October 4, 2023.

Fast Five by MassDevice · Private equity firm reportedly in talks to buy Medtronic business units

Akura Medical this week announced that it raised $35 million for its thrombectomy system. Fast Five hosts Danielle Kirsh and Sean Whooley discuss what the technology does and what the company plans to do with the proceeds. Read more here>>

Phillips-Medisize and GlucoModicum are partnering up to create a needle-free continuous glucose monitor. Hear what the primary goal of the partnership is, how the companies plan to achieve that goal and what opportunities each company brings to the partnership. Read more here>>

Augmedics has appointed a former Medtronic artificial intelligence expert as its VP of research & development. Whooley detail…

Insulet CFO departs for same post at 3M’s Health Care spinoff

Wayde McMillan. [Image from Insulet]Insulet (Nasdaq: PODD) + announced today that Wayde McMillan decided to leave his role as EVP, CFO and treasurer.

McMillan’s departure goes into effect on Oct. 20, 2023. He intends to join 3M as CFO of its Health Care business, which the company expects to spin off late this year or early next year.

President and CEO Jim Hollingshead called McMillan “a trusted partner and an excellent leader” of the company’s global finance team. He said McMillan helped to advance Insulet’s mission of improving the lives of people with diabetes.

“Wayde has helped make our company stronger and more resilient, ensuring we have the capabilities and financial strength to capitalize on the tremendous long-term growth opportunities Insulet is pursuing,” Hollingshead said in a news release. “On behalf of the board and our entire team, I thank Wayde for his…

Medtronic says defective McGrath Mac video laryngoscopes were stolen and offered for sale illegally

[Image courtesy of Medtronic]Medtronic (NYSE: MDT) + issued a notification to warn of stolen, defective McGrath Mac video laryngoscopes offered for sale by unauthorized third parties.

The company informed the public of the illegal offering of the devices by third parties through various social media platforms. Affected products failed to pass Medtronic’s rigorous tests established for the product. The company did not release them for sale, distribution or importation.

Medtronic said it designated such devices for destruction. People should not use the defective McGrath Mac video laryngoscopes. The device facilitates the intubation of the trachea and using a defective device could result in patient harm. That includes failed laryngoscopy and/or intubation, potentially resulting in respiratory failure (including hypercarbia).

Other potential adverse effects include hypoxia, hypercapnia, tissue damage/trauma and…

Baxter picks a foodservice industry veteran as its new CFO

New Baxter CFO Joel Grade. [Image from Joel Grade on LinkedIn]Baxter (NYSE: BAX) + announced today that it appointed Joel Grade as EVP and chief financial officer (CFO).

Grade joins after more than two decades in financial roles in the food services industry. He succeeds Jay Saccaro, who departed for the same role at GE HealthCare in May. Saccaro spent 21 years at Baxter, with the last eight coming in the CFO capacity.

Reporting to Chair, President and CEO José (Joe) E. Almeida, Grade’s appointment goes into effect on Oct. 18, 2023. Brian Stevens, who served as interim CFO after Saccaro’s departure, will transition to his previous role as SVP, chief accounting officer and controller.

“Joel is a seasoned global financial executive with decades of deep operational and broad business experience as well as a proven record of results-driven impact,” said Almeida. “I am confident we will benefit from Joel’s …

Shifamed’s Akura Medical raises $35M for thrombectomy system

Akura Medical, a Shifamed portfolio company, today announced the closing of a $35 million Series B financing round.

Los Gatos, California-based Akura develops a differentiated approach to address the challenges of venous thromboembolism (VTE). The company earmarked the funds for supporting its FDA 510(k) clearance submission for the Akura mechanical thrombectomy platform. Other uses include supporting clinical trials for additional indications and scaling manufacturing capabilities.

The Capital Partnership (TCP) and Cormorant Asset Management led the financing round. The PA MedTech VC Fund, AMED Ventures, Lilly Asia Ventures, Unorthodox Ventures and Shifamed angel investors also participated.

Akura developed its thrombectomy platform as an easy-to-use, smaller bore system. The low-profile, steerable sheath allows physicians to bring the tip of the catheter directly to the proximal end of the clot without needing to cross the clot.

The platform fea…

Phillips-Medisize, GlucoModicum partner on needle-free CGM

The Talisman CGM for non-invasive diabetes management. [Image courtesy of GlucoModicum/Phillips-Medisize]Molex company Phillips-Medisize today announced a partnership with GlucoModicum to design a new continuous glucose monitor (CGM).

The companies teamed up to design and eventually commercialize a proprietary, non-invasive, wearable CGM device. They aim to remove the technology and patient-care roadblocks that exist within continuous glucose monitoring.

Phillips-Medisize develops drug delivery, in vitro diagnostic and medtech devices. Finland-based GlucoModicum utilizes magnetohydrodynamic (MHD) technology to quickly and easily extract a glucose sample. This technology applies a small amount of energy directly to interstitial fluid to drive it to the surface of the skin.

The device utilizing this technology, called Talisman, adheres to a patient’s arm. It integrates MHD technology, ultra-sensitive biosensors and advanced algorithms while connecting t…

Augmedics taps former Medtronic AI expert as new VP of R&D

Augmedics announced today that it appointed former Medtronic leader Dr. Tal Davidson as its VP of research & development.

Davidson most recently served as artificial intelligence (AI) research director site lead for Medtronic’s Visionsense. The medtech giant’s R&D site leads the development of intraoperative visualization and AI opportunities in minimally invasive surgery.

News of Davidson’s appointment comes after Augmedics recently acquired digital health assets from Surgalign and Holo Surgical. Augmedics won a competitive auction for the digital health assets with a cash purchase price of $900,000. The acquisition strengthened the company’s augmented reality (AR) and AI portfolio.

“The future of spine navigation exists at the intersection of best-in-class advanced visualization and decision support,” said Augmedics president & CEO Kevin Hykes. “Tal’s multidisciplinary leadership in intraoperative imaging & artif…

Abbott study says FreeStyle Libre users on insulin show lower HbA1c levels

The FreeStyle Libre 2 continuous glucose monitor (CGM). [Image from Abbott]Abbott (NYSE: ABT) + today announced real-world data associating its FreeStyle Libre CGM with significant HbA1c reductions.

The continuous glucose monitor (CGM) played a part in significant reductions in HbA1c, the average glucose levels over a three-month period. It was also associated with a lower rate of hospitalization for people with type 2 diabetes on both multiple daily injection (MDI) and once-daily (basal) insulin therapy.

Abbott presented its findings from the study at the 59th Annual European Association for the Study of Diabetes (EASD) in Hamburg, Germany. The comparative study from the Swedish National Diabetes Register indicates CGM’s effectiveness in type 2 diabetes management.

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