MedTech 100 roundup: Another peak for the industry

Medtech has been on the rise in 2021 and the past week saw that trend continue, as the industry hit yet another all-time best mark.

MassDevice‘s MedTech 100 index reached 107.4 points on Jan. 20, topping the all-time best of 106.81 points set on Jan. 8. That mark represents a 16% jump from the pre-pandemic high of 92.32 set on Feb. 19, 2020, and a 72.9% overall leap from the lowest point of 62.13 set on March 23, 2020.

Here are some of the best-performing medtech stocks from 2020.

The high point could not be sustained, but the industry stayed strong, finishing at 106.4 to end the week on Jan. 22. Medtech’s finish to last week was enough to top the previous seven days, coming in 0.6% ahead of the 105.8-point mark set on Jan. 15.

While medtech saw slight growth from the previous week, one of the overall markets saw a larger jump, with the S&P 500 Index rising 1.9%. The Dow Jones Industrial Average fared identically to medtech, rising 0.6%.

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Haemonetics to acquire Cardiva

Haemonetics (NYSE:HAE) announced today that it entered into a definitive agreement to acquire Cardiva Medical for $475 million.

Boston-based Haemonetics’ agreement includes an upfront cash payment of $475 million at closing, along with up to an additional $35 million in contingent consideration based on sales growth, according to a news release.

The acquisition is subject to customary closing conditions with expectations that it will be completed in the first quarter of the calendar year 2021.

Sunnyvale, Calif.-based Cardiva Medical develops a portfolio that includes two catheter-based vascular access site closure devices — the Vascade vascular closure system for “small-bore” femoral arterial and venous closure and the Vascade MVP system for “mid-bore” multi-access femoral venous closure.

Vascade is touted as the only marketed closure device that significantly reduces access site complications compared to manual compr…

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