MedTech 100 roundup: Slight rise for the industry

While medtech’s performance still isn’t mirroring the beginning of 2021, the industry is showing signs of life with a small improvement last week.

The year’s strong start, during which MassDevice‘s MedTech 100 index notched an all-time best of 110.96 points (Feb. 15) came to an end later that month and carried over into March, with the index hitting its lowest recent point on March 8 (102.16), marking a fall at a level not seen since October.

Even after a slight rise earlier this month, the index struggled again two weeks ago with another small dip. However, after coming in at 104.05 on March 19, the index got a slight boost over the past week, finishing at 104.87 on March 26, representing a 0.8% rise.

Despite the up-and-down nature of the past couple of months, the index represents a much better situation for the industry compared to this time a year ago when the COVID-19 pandemic was in full swing. The index is up 13.6% from its pre-p…

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Investors sue Decision Diagnostics over COVID-19 test

Decision Diagnostics is facing legal action after the company allegedly misled investors about the development of a COVID-19 diagnostic.

Licgo Partners, Sovereign Partners and Paradigm Capital, all investor companies, sued Decision Diagnostics and CEO Keith Berman in federal court under allegations that Berman had falsely stated that the company was developing an at-home COVID-19 test that was nearing regulatory authorization before denying the investors the right to convert shares worth millions at the time, according to a court document.

Westlake Village, Calif.-based Decision Diagnostics and Berman have been subject to previous legal action over the alleged false claims, as the SEC in December levied charges that Berman and the company “seized upon” the ongoing COVID-19 pandemic with false claims that Decision Diagnostics had developed a finger prick blood test for detecting COVID-19 in less than one minute.

The SEC also temporarily suspended trading …

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