Medical Alley companies beat Q1 investment total

A surge in first-quarter 2019 investments in Medical Alley Association member startups pushed them past their performance in the same quarter last year, according to the Minnesota-based trade group.

Seven of the 10 largest raises of the quarter went to medical device companies, which propelled the sector to its best first quarter on record, nearly doubling the second-best total. The funded companies make products ranging from cardiopulmonary intervention devices to novel orthopedic treatments for both chronic and acute conditions.

Get the full story on our sister site, Medical Design & Outsourcing.

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Sterilization plant closures: Here’s why you need to care

(Image by Jose Fontano on Unsplash)

The recent shutdown of a Sterigenics medical device sterilization plant in Willowbrook, Ill. has affected medtech giants such as Becton Dickinson (NYSE:BDX), Boston Scientific (NYSE:BSX), Medtronic (NYSE:MDT), Smith & Nephew (NYSE:SNN) and Stryker (NYSE:SYK), according to an FDA list of devices processed at the sterilization plant.

Medium-sized and smaller firms, including Teleflex Medical (NYSE:TFX), Arthrex and ArthroCare also had devices processed there. The Willowbrook plant sterilized 594 types of devices, including sutures, clamps, knives, stents and needles. With a Viant sterilization plant in Grand Rapids, Mich. slated to close later this year, the FDA is warning of spot shortages, and smaller medtech companies may be the hardest hit.

Get the full story on our sister site, Medical Design & Outsourcing.

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The Danes are coming to Medical Alley

A delegation of Denmark’s medtech and health leaders is traveling to Minnesota’s Medical Alley next week to solidify a partnership with Denmark’s MedTech Bridge.

MedTech Bridge is a nonprofit program established to expand the relationship between medical device and digital health companies in Denmark and the United States and to scale commercial-stage Danish medtech businesses in the U.S. through the Medical Alley trade group.

Get the full story on our sister site, Medical Design & Outsourcing.

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Minnesota’s medtech industry raised $90M in Q3 2018

 Investments in Medical Alley medtech companies, which had dipped in recent years, have made a comeback, according to the Minnesota trade association.

Device companies raised $90 million in the third quarter, pushing the year-to-date total to nearly $200 million raised by 33 companies. Q3’s largest raises in medtech included Urotronic ($26 million, including $20M in Series B funds), 4C Medical ($17 million), and Cardialen ($17 million), continuing a growth trend that began in 2009, Medical Alley said in a statement. Biotech companies broke $100 million in capital raised in a year for the first time in the association’s history. Investment in digital health companies reached $32 million raised in the third quarter for a year-to-date total of $116 million.

Get the full story on our sister site, Medical Design & Outsourcing.

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