MassMEDIC Archives - Medical Design Sourcing

How device founders can find a buyer for their medtech

Frank Jaskulke is Medical Alley’s VP of intelligence and the head of Medical Alley Starts. [Photo courtesy of Medical Alley]

If you’re a medtech entrepreneur looking to sell your medical device business, Frank Jaskulke is a great contact to have in your network.

He’s VP of intelligence at Medical Alley and the head of its Medical Alley Starts program, which offers resources and support for healthcare startups. His Minnesota-focused organization has worked with more than 360 medical device startups just in the first few months of this year.

Medical Design & Outsourcing recently spoke with Jaskulke about how medtech entrepreneurs can make friends before they need them on the path to an eventual sale of their business.

Know the market and work your network

Medical device entrepreneurs — and especially first-time entrepreneurs — often have a big blind spot while developing their …

MassMEDIC announces ‘record-breaking’ year

The Massachusetts Medical Device Industry Council (MassMEDIC) announced that 2022 represented a “record-breaking” year.

Among the organization’s 2022 accomplishments, MassMEDIC grew its staff as in-person events returned. It also launched its “Why Medtech” campaign and advocated for its more than 300 members ranging from Beacon Hill to Washington, D.C.

“The past year has been transformational for our organization,” said President of MassMEDIC Brian Johnson. “We took significant steps to invest in our team, increasing the value we can provide our members and our impact in the New England life sciences ecosystem. I’m proud of the team’s accomplishments this year and excited for our future potential.”

In 2022, MassMEDIC increased revenue by 30%. It also increased the size of its operating budget by nearly 80% since 2018.

The organization also recruited AdvaMed’s The MedTech Conference to Boston while producing …

MassMEDIC picks startups for Medtech Ignite accelerator

MassMEDIC has named four startups to its Medtech Ignite 2022 cohort. [Image courtesy of MassMEDIC]

The Massachusetts Medical Device Industry Council (MassMEDIC) this week announced its 2022 Medtech Ignite Program participants.

The accelerator is returning to in-person programming after two years of virtual training, with workshops and networking spanning September and November.

MassMEDIC’s 2022 Medtech Ignite cohort startups are:

Oxford Heartbeat, which developed the PreSize Neurovascular software to help neurovascular surgeons predict the behavior of different stent devices in an individual patient, allowing them to select the best device. Co-founder Katerina Spranger is Oxford Heartbeat’s CEO. BrilliantStrings Therapeutics, which developed an activated collagen biomaterial for repairing injured or degenerated connective tissue and wounds. Jeff Ruberti is CEO. INIA Biosciences, which de…

MassMEDIC makes changes to its board and executive committee

The Massachusetts Medical Device Industry Council (MassMEDIC) announced today the replacement of three board members and a new executive committee roster.

Joining the board are Zoll Resuscitation President Elijah White, Olympus Corp. of America SVP and Global Head of Business Development Townsend Goddard, and Cambridge Consultants SVP and Head of Medtech (U.S. West) Nick Hawson.

They replace retiring board members Christos Monovoukas (former VP of global business development at Olympus Corp. of America), David Bradshaw (senior assessment services manager at Cambridge Consultants), and Jon Rennert (CEO of Zoll Medical), who served as the board’s chair from 2017-2020.

“On behalf of the MassMEDIC community, we are excited to welcome our new Board members and thank those who are transitioning off for their service and dedication,” MassMEDIC President Brian Johnson said in a news release. “We want to extend a special thank you to Jon Rennert f…

MassMEDIC Ignite alumni break $100M funding milestone

Embr Labs makes the wearable Wave device for cooling relief from menopausal hot flashes. [Image courtesy of Embr Labs]CoreMap’s $23 million in recently closed funding officially puts MassMEDIC’s Ignite alumni from the past three years over the $100 million mark, the medtech accelerator said.

Fifty medtech startups have participated in MassMEDIC’s Ignite since the program relaunched in 2019. The program matches startup founders with mentors in leadership positions at New England medtech organizations, makes introductions to investors and offers networking and experiential training to boost the region’s industry.

Get the full story at our sister site, Medical Design & Outsourcing.

MassMEDIC Ignite alumni break $100M funding milestone

Embr Labs makes the wearable Wave device for cooling relief from menopausal hot flashes. [Image courtesy of Embr Labs]

CoreMap’s $23 million in recently closed funding officially puts MassMEDIC’s Ignite alumni from the past three years over the $100 million mark, the medtech accelerator said.

Fifty medtech startups have participated in MassMEDIC’s Ignite since the program relaunched in 2019. The program matches startup founders with mentors in leadership positions at New England medtech organizations, makes introductions to investors and offers networking and experiential training to boost the region’s industry.

“The experience of the program, the network of contacts and the MassMEDIC community of support continues to be of great value to us,” Sarah Kalil, co-founder and CEO of Burlington, Vermont–based CoreMap, said in a news release.

CoreMap leads all Ignite alumni …

CoreMap raises $23 million to fund AFib mapping development

Sarah Kalil is CEO and co-founder of CoreMap. [Photo courtesy of CoreMap]

CoreMap today announced it closed a $20 million Series B financing to accelerate the development of its cardiac arrhythmia diagnostic technology and launch pilot studies.

The Burlington, Vermont–based company said it also closed on a $3 million Series A Milestone financing that was part of its $10.5 million Series A in September 2020. In addition, CoreMap won a National Science Foundation research grant that same month after participating as one of the startups in MassMEDIC’s IGNITE virtual accelerator when the program relaunched in 2019.

CoreMap said pre-clinical and clinical studies have successfully demonstrated the CoreMap System, which consists of the company’s high-resolution Invenio catheter and VidereX workstation.

“We have a catheter that will go inside the heart to record the electrical activity with hi…

MassMEDIC announces board additions

The Massachusetts Medical Device Industry Council (MassMEDIC) today announced the appointment of eight new members to its board of directors.

Joseph Ferrara, Michelle Fox, Brent Fullerton, Chris Killburn-Peterson, Jaydeo Kinikar, Sonal Patel, Stacey Pugh and Adam Sachs have all joined the MassMEDIC board.

“We are honored to welcome our new members to our Board of Directors to further the mission of saving and improving the lives of patients everywhere through medical technology,” MassMEDIC President Brian Johnson said in a news release. “Their dedication to continuous improvement of our healthcare ecosystem in Massachusetts and New England, paired with their industry expertise, will strengthen our community built on collaboration and collaborative success.”

Ferrara serves as chief innovation officer at Veranex and holds more than 25 years of experience in the medtech industry. Fox, who is CMO at Teleflex, offers vast experience in clinical affairs and…

MassMEDIC announces 2021 Ignite accelerator winners

MassMEDIC announced today that it concluded its 2021 MedTech IGNITE accelerator program for medical device companies.

Boston-based MassMEDIC (the Massachusetts Medical Device Industry Council) had 12 startups in the 2021 IGNITE cohort, with the companies including developers of wearables, diagnostics and surgical devices across areas such as women’s health, neurology, oncology, infectious disease, diabetes and cardiology.

Get the full story at our sister site, Medical Design & Outsourcing.

MassMEDIC announces 2021 Ignite accelerator winners

MassMEDIC announced today that it concluded its 2021 MedTech IGNITE accelerator program for medical device companies.

Boston-based MassMEDIC (the Massachusetts Medical Device Industry Council) had 12 startups in the 2021 IGNITE cohort, with the companies including developers of wearables, diagnostics and surgical devices across areas such as women’s health, neurology, oncology, infectious disease, diabetes and cardiology.

The IGNITE cohort participated in virtual classes run by medtech executives with expertise in a number of areas, while it also included virtual networking events and fireside chats with industry luminaries. Participating startups also worked on pitches with feedback from VCs and experienced mentors.

Winners were selected by their peers, with each cohort founder presenting their corporate pitch to the cohort. They were scored on product market fit, business plan and team strength.

Encora Therapeutics won the competition, bri…

An even larger medtech supply chain shock looms beyond the pandemic

[Image via Pixabay] Superstorms, fires, droughts and other extreme events driven by climate change are already straining the industry’s supply chain — and it could get a lot worse.

Drifting wildfire smoke made for blazing sunrises and sunsets this summer in Minnesota, where electronics manufacturer Nortech Systems has been replacing air handling equipment to ensure particle filtration and the ability to operate in more extreme temperatures.

“I had days where I jumped in the car, and I drove up to Bemidji and [the smoke] got steadily worse,” CEO Jay Miller said. “I’m thinking about not only small particles of particulate matter in very sensitive boards that we’re manufacturing, I’m also thinking about my employees that have asthma. … I can put them in a good environment for eight hours a day, but how are they going to be the rest of the time? That’s worrisome.”

Medical device companies are increasingly focusing on the risk climate change poses to their businesse…

MassMedic: New England suited to be drug delivery device powerhouse

The Massachusetts Medical Device Industry Council (MassMedic) believes New England is capable of growing in the drug delivery device space.

In a recently published report written by Alira Health’s Aude Ouesanga, Laure Girard and Marie Vaillant and shared by MassMedic, a shift in the space was highlighted in terms of devices enabling therapeutic delivery to actually having an impact on the performance of the drug. The addition of connectivity capabilities in digital health ecosystems offers more in terms of monitoring and data collection, too.

Get the full story at our sister site, Drug Delivery Business News.