Medical device, design, manufacturing news, funding, M&A

Medical device, design, manufacturing news, funding, M&A

Starkey Hearing Technologies’ Livio AI hearing aid with integrated sensors and artificial intelligence; Wright Medical and Boston Scientific announce acquisitions; Nanovis completes investment round; Titan Medical patent

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September 5, 2018
Elizabeth Engler Modic
#WhyMFG

Amsterdam-based Wright Medical Group NV agreed to acquire Alpharetta, Georgia-based Cartiva Inc., a private orthopedic company focused on thhe treatment of osteoarthritis of the big toe. Wright will acquire 100% of Cartiva's outstanding equity on a fully diluted basis for $435 million in cash.

Marlborough, Massachusetts-based Boston Scientific has agreed to acquire Fremont, California-based medical devices manufacturer Veniti in a deal valued at $160 million – an investor in Veniti since 2016, Boston Scientific has 25% stake in the company, paying $108 million for the remaining stake. Company officials agreed to pay up to $52 million after U.S. FDA approval of the Vici stent system. In June 2018, the company submitted a pre-market approval (PMA) application to the FDA; presently, the system is an investigational device in the U.S.

Carmel, Indiana-based Nanovis completed a $5.5 million funding round brokered by Commenda Securities. Key investors include Elevate Ventures, 1st Source Capital Corporation, Purdue’s Foundry Investment Fund, Commenda Capital, and Ellipsis Ventures.

Minneapolis, Minnesota-based Starkey Hearing Technologies' hearing aid with integrated sensors and artificial intelligence – Livio AI – tracks brain and body health, and has a natural user interface with tap control, language translation, and advanced environmental detection. The first device to track physical activity and cognitive health as measured by hearing aid use in social situations, the launch also includes a mobile app – Thrive Hearing; and three wireless accessories – the Starkey Hearing Technologies TV, the Remote, and the Remote Microphone +. With the Remote Micorophone+, Livio AI is also the first hearing aid featuring Amazon Alexa connectivity.

Toronto, Ontario, Canada-based Titan Medical, a medical device company focused on the design and development of a robotic surgical system for application in minimally invasive surgery (MIsS), has been granted U.S. Patent No. 10,058,396, "System and Apparatus for Insertion of an Instrument Into a Body Cavity for Performing a Surgical Procedure." The patent covers technology that advances the ease of use and positioning of robotic surgical systems, including single-port robotic surgical systems such as the company's SPORT Surgical System. The technology was developed internally at Titan and was led by Dr. Perry Genova, the company's senior vice-president of R&D.