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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Obalon Therapeutics’ stock skyrockets after announcing ReShape Lifesciences merger

Shares of intragastric balloon maker Obalon Therapeutics (NSDQ:OBLN) jumped as high as $10.71 today, or 568%, after the company announced a merger with ReShape Lifesciences (OTCMKTS:RSLS). 

The San Diego-based company’s stock eventually closed at $9.52 per share, up 491%.

Obalon’s stock had closed at $1.61 yesterday. 

ReShape Lifesciences also saw a substantial jump in its stock price. RSLS shares closed at $9.52 per share, up nearly 138%.

Obalon won FDA-approval for its gas-filled intragastric balloon system for obesity in 2016. It is currently the only company with such a product on the market in the U.S. 

The merger with ReShape will allow the balloon system to become part of a portfolio of devices used to treat obesity and metabolic disease, including the Lap-Band adjustable gastric banding system and the ReShapeVest, which is an investigational device for treating obesity.  

“We are excited with this opportunity to add Obalon’s …

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