What could medtech lose from the Silicon Valley Bank shutdown?

A host of medtech companies dodged the loss of billions of dollars in Silicon Valley Bank deposits — but the space still faces challenges.

That is one of the big takeaways from the latest DeviceTalks Weekly podcast.

The FDIC shuttered Silicon Valley Bank on March 10 to stave off a bank run amid depositor concerns over how the bank had managed risk around rising interest rates. With $209.0 billion in total assets and about $175.4 billion in total deposits, it was the second-largest bank collapse in U.S. history.

Silicon Valley Bank was a huge name in the tech and startup world since its founding in the 1990s. SVB’s website said half of all U.S. VC-backed tech and life science companies used the Santa Clara, California–based bank. Especially vulnerable were startups and other young companies that parked their funds at the bank — and found themselves asking how much they’d get back above the $250,000 FDIC deposit insurance limit.

By Sunday, March 12,…

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FDA clears Pristine Surgical single-use arthroscope

The company describes its FDA-cleared Summit as a first-of-its-kind 4K single-use surgical arthroscope. [Image courtesy of Pristine Surgical]Pristine Surgical announced today that FDA has cleared its Summit 4K single-use surgical arthroscope

Manchester, New Hampshire–based Pristine describes the arthroscope as a first of its kind. It plans to launch Summit during the first quarter of this year.

Summit combines a 4K single-use surgical arthroscope with the company’s cloud-based software Pristine Connect. The result is a high-definition image every time, according to Pristine Surgical.

The company said running software off the cloud means the device is always new and never obsolete.

The scope is simple to set up and 100% sterile, Pristine said. In addition, its transparent pricing model and automated inventory management also improve predictability and workflow.

Get the full story on our sister site Medical Tubing + Extrusion.

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