MedTech 100 roundup: New all-time best reached

Once again, the medtech industry has soared to new heights, eclipsing its all-time best performance by the tiniest of margins.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week (July 2) at 114.59 points, coming in just 0.01 points ahead of the 114.58-point mark set in April — previously the industry’s all-time best performance.

The new high mark also represents a 1% rise from the 113.42-point total reached last week (June 25). The industry took a strong June into July, rising nearly 7% over the past four weeks.

Having overcome some recent setbacks, medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry has registered a 24.1% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus an 84.4% increase from the mid-pandemic low of 62.13 (March 23, 2020).

The positive movement in medtech …

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EchoNous raises $60M for AI-guided ultrasound

EchoNous announced that it raised $60 million to go toward the launch of its flagship AI-guided Kosmos ultrasound device.

Redmond, Wash.-based EchoNous received the investment from Kennedy Lewis Investment Management, with the funding combining senior secured debt and equity to build on the support of KKR, EchoNous’ principal investor since 2015, according to a news release.

The company said the proceeds will help propel the commercial launch of the Kosmos AI-guided point-of-care ultrasound system designed to provide diagnostic-quality imaging on par with larger, less portable and more expensive imaging machines.

Kosmos enables systolic heart function assessment and EchoNous touts it as the only handheld point-of-care ultrasound system to offer continuous-wave Doppler capability. Additionally, the company said Kosmos is the only product of its size and in its category to meet HIPAA requirements for data collection, storage and transmission.

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