Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
3. OrbiMed launches $950m healthcare fund
OrbiMed said it closed another venture capital fund worth $950 million that it plans to deploy on about 30 companies in the medical device, biopharmaceutical, diagnostics and healthcare IT markets.
The New York-based VC giant said its OrbiMed Private Investments VI fund will put up investments ranging from $10 million to $75 million. Last year OrbiMed floated a $924 million fund it planned to use in $20 million to $150 million increments for acquiring healthcare royalty streams. Back in the fall of 2013 OrbiMed launched a $735 million healthcare fund. Read more
2. Intuitive Surgical puts another $9 million into Luna Innovations’ shape-sensing tech
Luna Innovations said that Intuitive Surgical agreed to put up another $9 million for the shape-sensing technology it bought for its da Vinci robot-assisted surgery platform.
Pleasanton, Calif.-based Intuitive paid a total of $12 million last year for the technology, which is designed to provide real-time measurements to help surgeons sense positions and track locations in the body during surgery. The latest installment closes out the deal, which once included milestones worth another $18 million. Read more
1. CryoLife in $130m deal to enter valve market with On-X Life Technologies buy
CryoLife Inc. made a big play for the mechanical heart valve space with a $130 million deal to buy On-X Life Technologies.
On-X makes an aortic valve replacement and is developing a mitral chord repair device called Chord-X. The Austin, Texas-based company put up sales of about $33 million last year, CryoLife said. Read more
The post MassDevice.com +3 | The top 3 medtech stories for December 23, 2015 appeared first on MassDevice.
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