The bad news is that the 61 medical devices and equipment venture capital deals in Q1 were the fewest since 2004. The good news is that the amount invested jumped 28% to $588 million, according to the latest MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association, based on Thomson Reuters data.
Dental equipment company Convergent Dental says dentists should use its Solea laser to practice "dread-free dentistry," and it now has an additional $8 million in funding thanks to venture capital firm Long River Ventures and other individual investors.
ForSight Vision5 raised $15 million in a Series C financing and completed enrollment of a Phase II clinical study to support the development of its noninvasive ocular implant therapy for eye diseases.
Abbott Laboratories posted another quarterly decline in medical device revenue, but its fast-growing diagnostics business came through yet again.
Despite long-running headwinds, St. Jude Medical pulled off an increase in implanted defibrillator revenue in the first quarter, helping the company swing to a small rise in sales.
British consumer products maker Reckitt Benckiser said during a first-quarter business review today that it's moving closer to carving out its struggling pharmaceutical unit and listing it as a separate public company. A strategic review of the unit that was launched last October continues, but a "capital markets solution is emerging as a strong option," Reckitt CFO Adrian Hennah told Reuters.
Cardiac Dimensions, a privately held medical device company focused on mitral valve repair, raised $20 million in a new round of private equity financing to support expansion in European and Austrailain markets.
At $7.1 billion in revenue, the balance sheet shows no changes in quarterly sales at Johnson & Johnson's medical devices and diagnostics division, but the unit experienced shifts of other sorts during the first quarter of 2014.
Pradaxa may not be leading the new-age anticoagulant market, but it's certainly leading Boehringer Ingelheim's growth efforts. The blockbuster med made significant gains in 2013 to help offset currency effects and keep operating income up in the face of dwindling sales, the company said Tuesday.
Weak consumer sales and flat medical device and diagnostics sales didn't stop Johnson & Johnson from trouncing analyst estimates Monday--or from raising its guidance for the year. A lineup of hot new meds powered the drug giant's first-quarter performance, helping pharma sales climb nearly 11% to $7.5 billion.