A turgid month for the medtech industry might be drifting into the past after the past week indicated a slight turnaround as summer nears.
MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week at 107.74 points, marking a 1.4% rise from the 106.22-point mark set one week prior.
Having endured its largest slide of 2021 in recent weeks, the index is already demonstrating signs of a rebound after April brought the industry’s all-time best performance.
Despite the setbacks that have plagued the industry over the past month or so, medtech’s performance continues to reflect a rebound from the struggles brought on by the COVID-19 pandemic. Overall, it has registered a 16.7% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus a 73.4% increase from the mid-pandemic low of 62.13 (March 23, 2020).
The overall markets were on the opposite end of the spectrum over the past week, with the S&P 500 Index dipping by -0.4% and the Dow Jones Industrial Average faring similarly, falling -0.5%.
Medtech companies continue to rebound from the COVID-19 pandemic more than a year on. Here are some of the major highlights from the past week:
- 7 digital health startups you need to watch in 2021
- DeviceTalks Weekly Podcast: HOW ATRICURE BUILT A BIG BUSINESS IN AFIB; A DEEP LOOK INTO ABBOTT’S NEW CORONARY IMAGING PLATFORM
- Google set to launch its first medical device
- Memic may go public through merger with SPAC
- BD to build $200M facility in Spain for pre-filled drug delivery device manufacturing
- Teleflex selling some respiratory assets to Medline
- Cue Health raises $235M to support its over-the-counter, home-use diagnostics
- How Fractyl Labs is ‘reversing’ type 2 diabetes to reduce or eliminate insulin injections
- Giiant Pharma raises $11M for drug delivery platform for gastroenterology
- DarioHealth to acquire PsyInnovations for $30M