In the blink of an eye, the medtech industry exited its spring slump and neared its all-time best performance levels.
MassDevice‘s MedTech 100 Index offered signs of a rebound last week and has built on that momentum, registering a final tally of 109.39 points on April 9. That represents a 2.9% increase from the 106.26-point mark set a week prior (April 2).
The industry’s rebound has been impressive, given that just over one month prior, the index had dropped to 102.16 points (March 8), having just set its all-time best of 110.96 on Feb. 15. Medtech companies had no seen that degree of a fall since October 2020.
Improvements highlight the secure position the industry has nestled into a year on from the height of the COVID-19 pandemic’s impact on medtech, as the industry has produced an 18.5% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus a 76.1% increase from the mid-pandemic low of 62.13 (March 23, 2020).
The overall markets also rose along with medtech over the past week, with the S&P 500 Index growing by 2.7% and the Dow Jones Industrial Average ticking up by 2%.
The industry continues to recover from the COVID-19 pandemic and its effects. Here are some of the major highlights from the past week:
- Hologic to acquire Mobigiag in $795M deal
- Better Therapeutics to go public via $113M merger with SPAC
- Second Sight, Pixium Vision merger plans are over
- LumiraDx to start trading on Nasdaq through $5B SPAC deal
- ABC debuts drama about evil medtech company
- Insightec raises $136M for incisionless surgery tech
- Google, Varian partner on AI to boost cancer radiation therapy
- Outset Medical to raise nearly $366M from primary, upsized offerings
- Medtronic commits to helping people of color with diabetes
- Olympus opens new U.S. medical business HQ in Massachusetts