The Future of Medical Devices

Healthtech is experiencing a renaissance, and it's no surprise why. Living through a pandemic has increased our collective anxiety and fear around our health systems, our leaders, and our personal space. While telehealth and women’s health startups are the runaway favorites among investors, experiencing 61.2% & 129.3% growth YoY, respectively, medical devices remain the most heavily funded area of discovery and innovation, with 359 deals taking place so far this year. Today, we look at where the money has been going in recent months.

 

Follow the money, foresee the future. 

• Exo Imaging just raised a $220MM Round C from investment firm RA Capital, BlackRock, & others. The firm is advancing ultrasound technology by using new materials, processes, and AI to create higher quality imaging at a more affordable cost. 

• Paradromics raised a $20MM seed round, bringing its total seed funding to $32.45MM. The Austin-based startup uses brain-computer interfaces to functionally restore capabilities for people with paralysis, blindness, deafness, and other conditions.

• MOBILion Systems raised a $60MM Round C led by the hedge fund D1 Capital in July. They’re working to enable earlier disease detection and diagnostic accuracy with a pharmaceutical extension.

Recent Medical Device IPOs,  SPACs, and M&As

• Aesther Health Acquisition, a blank-check company, filed paperwork in July to raise $100MM to target pharma and medical device sectors. The firm is led by TRxADE co-founder, Suren Ajjarapu, whose marketplace for pharmaceuticals IPO’d in February.

• Rani Therapeutics, a San Jose company developing a pill to replace injections, went public last week and raised $73MM. 

• Velano Vascular was acquired by health care equipment public company, BD, for its “Steve Jobs of Drawing Blood” value proposition.

• Bioventus raised $104MM in its IPO earlier this year for its orthopedic care technology.