Medtech in a Minute: Eko Cashes in on Telehealth Interest, Stryker Closes Wright Deal, and More

Eko Cashes in on Surging Telemedicine Interest

Increased interest in telehealth helped Eko, a digital health specialist, raise $65 million in a series C round. The company has developed a platform of telehealth and AI algorithms for disease screening, and to launch a monitoring program for cardiopulmonary patients at home. Proceeds from the financing will be used to expand in-clinic use of the company’s platform of telehealth and AI algorithms for disease screening, and to launch a monitoring program for cardiopulmonary patients at home.

Stryker Closes Wright Deal (Finally)

Stryker has closed on its $4 billion acquisition of Wright Medical. The move comes about a year after Kalamazoo, MI-based Stryker first announced it would acquire the orthopedics company. The rationale behind the deal was that it would help strengthen Stryker's position in the fast-growing trauma & extremities segment. However – the acquisition hit a snag after the Federal Trade Commission expressed anti-trust law concerns. To satisfy the FTC's concerns, both companies agreed to divest all assets related to finger joint implants and STAR total ankle replacements. The companies agreed to sell these assets to Carlsbad, CA-based DJO Global.

And in case you missed last week's Medtech in a Minute ...

Medtech States Lean Blue

In seven U.S. states with a strong medtech presence — as previously identified by MD+DI as medtech hubs — four were called for Democratic Presidential Candidate Joe Biden. Biden won in California, Masachusetts, Minnesota, and Washington. President Donald Trump won in Texas, Indiana, and Florida.

Stryker Closes in on a Big M&A Closing

Stryker is expected to close its acquisition of Wright Medical on Tuesday, now that the Federal Trade Commission has given the go-ahead. In order to get FTC’s blessing for the deal, both companies agreed to divest all assets related to finger joint implants and STAR total ankle replacements. The companies have agreed to sell assets to DJO Global. Stryker's $4 billion bid for Wright, announced last November, is one of the largest holdover deals from 2019 that had to clear regulatory hurdles.

FDA Approves Ranger on the Heels of Voyager Data

FDA approved Boston Scientific's Ranger Drug-Coated Balloon to treat patients with peripheral artery disease in the superficial femoral artery (SFA) and proximal popliteal artery. The approval comes nearly six years after the company obtained a CE mark for the same device. FDA approval was based on results from the RANGER II SFA pivotal trial, which evaluated the safety and effectiveness of the Ranger balloon to standard percutaneous transluminal angioplasty for that patient population.