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MedTech 100 roundup: Industry shatters all-time best with remarkable rise

The medtech industry’s steady growth provided optimism in recent weeks, but an unforeseen leap sees it hitting new heights now.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (July 16) at 145.88 points, a remarkable 27.1% rise week-over-week, registering by far the greatest increase the index has seen since its inception.

Remarkably, the industry’s July 9 tally of 114.79 points a week prior had, at that point, been known to be the index’s all-time best to date. The new high set on Friday of last week totals an increase of 31.09 points.

Medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too, especially after this latest unpredictable rise. The industry has registered a 58% increase from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus it has fully eclipsed 100% growth from the mid-pand…

FDA clears Stryker biodegradable subacromial balloon spacer

Stryker (NYSE:SYK) this week announced that it received FDA 510(k) clearance for its balloon implant for arthroscopic treatment of massive irreparable rotator cuff tears.

Kalamazoo, Mich.-based Stryker designed the InSpace balloon implant to restore the subacromial space without requiring sutures or fixation devices. It has been demonstrated to improve shoulder motion and function, according to the company.

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

FDA clears Stryker biodegradable subacromial balloon spacer

Stryker (NYSE:SYK) this week announced that it received FDA 510(k) clearance for its balloon implant for arthroscopic treatment of massive irreparable rotator cuff tears.

Kalamazoo, Mich.–based Stryker designed the InSpace balloon implant to restore the subacromial space without requiring sutures or fixation devices. The device has demonstrated improved shoulder motion and function, according to the company.

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

Stryker launches humeral system as part of new portfolio

Stryker (NYSE:SYK) announced today that it launched the Perform humeral stem as part of its newly introduced Tornier shoulder arthroplasty portfolio.

Kalamazoo, Mich.-based Stryker designed its Tornier Perform humeral stem for use in anatomic, reverse and hemiarthroplasty of the shoulder with the aim of allowing for conversion from an anatomic to a reverse shoulder prosthesis in the case of revision, according to a news release.

The design includes four collar diameters and is available in multiple lengths to optimize humeral fit and give surgeons the options to choose, with the focus on smaller stem options allowing for the addressing of smaller patient anatomies with more unique challenges.

Additionally, Stryker made the Tornier Perform compatible with the full line of standard and augmented Perform glenoid options, with Stryker’s Blueprint planning software allowing for surgeons to plan cases in advance with real-time, precise virtual surgery. Read more

MedTech 100 roundup: Industry continues climb

One week after hitting an all-time best mark, the medtech industry has done it again, reaching new heights on Wall Street.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — continued its rise, finishing the week (July 9) at 114.79 points, a rise of 0.2% from the 114.59-point mark registered a week prior on July 2.

The new high comes in was just 0.21 points ahead of the 114.58-point mark set in April — the industry’s all-time best performance before last week beat it by one point.

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 24.3% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus an 84.6% increase from the mid-pandemic low of 62.13 (March 23, 2020).

The positive movement in medtech aligns with an uptick in the overall markets this past week, as the S&P 500 Index ri…

Conformis, Stryker settle in Wright Medical patent infringement litigation

Conformis (NSDQ:CFMS) announced today that it settled with Stryker (NYSE:SYK) to resolve patent litigation involving Wright Medical.

Billerica, Mass.-based Conformis said in a news release that Stryker, which acquired Wright Medical in November 2020, will make a one-time payment to Conformis and be granted a non-exclusive license with respect to certain Conformis patients.

On April 24, 2020, Conformis filed a lawsuit against Wright in the U.S. District Court for the District of Delaware, alleging in an amended complaint that Wright’s multiple lives of patient-specific shoulder instruments and the implant components used in conjunction with those implants infringed certain Conformis patents.

“We are pleased to have resolved all of the ongoing patent litigation related to the Wright Medical dispute,” Conformis president & CEO Mark Augusti said in the release. “The settlement once again highlights the strength and value of our intellectual propert…

Barclays is bullish on medtech

Barclays analysis projects that medtech might be on its way to a stretch of “outperformance” even in the wake of the COVID-19 pandemic.

According to SeekingAlpha, the report cited eight reasons that make the investment bank bullish on the industry in the coming years, starting with what it calls “robust innovation.”

On top of the evolving innovation in medtech, Barclays expects the canceled procedures of 2020 (as a result of COVID-19) to return, while new technology could increase diagnoses.

Direct-to-consumer advertising, a potential return to “normality” in a post-pandemic scape, surveys indicating a resurgence in elective surgeries, healthy balance sheets and an aging population as a tailwind round out the reasons why Barclays expects success for medtech over the next several years.

Medtech companies that Barclays stands “overweight on” include Abbott (26.72% upside), Boston Scientific (18.55% ups…

MedTech 100 roundup: Return to normal following recent spike

After back-to-back all-time best performances, the medtech industry had a slight regression over the course of the last week.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — had been continuously ticking up since the beginning of April, with its mark of 112.25 on April 16 representing an all-time best, topping the previous high of 110.96 set on Feb. 15.

Just one week later, the index topped itself again, reaching 114.58 to end the week on April 23, marking an increase of 2.1% from the previous week. However, things have settled down and the industry responded in kind, dipping -1.6% to 112.7 to end last week (April 30).

In spite of the slight decrease over the past week, the industry continues to reflect a bounceback from the struggles brought on by the COVID-19 pandemic.

Overall, has produced a 22.1% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus an 81.4% increase from…

DTW Podcast: Can Proximie bring safer surgery to the wider world? How is Getinge answering call for ventilators?

How did Getinge and Proximie respond to the challenges of the pandemic?

In this week’s podcast senior executives from Getinge and Proximie – two very different sized companies – explain how the COVID-19 pandemic accelerated their business.

In the opening keynote conversation, Eric Honroth, president, Getinge North America, explained how the company more than doubled its production of ventilators in 2020. He also discusses recent FDA clearances for two lines of critical devices.

In our closing keynote, Dr. Nadine Hachach-Haram, CEO and founder of Proximie, says the start-up reached its 2023-24 projected size in just a few months as hospitals and medical device companies sought the ability to collect surgeons to the outside world.

Dr. Hachach-Haram, a reconstructive surgeon, gives a detailed account of how a growing shortage of surgeons convinced her to start a technology company.

She also shares how the technology ultimately restored the life of so…

Stryker partners with minor league baseball as SmartRobotics joint replacement partner

Stryker (NYSE:SYK) announced today that it is working with Minor League Baseball as the official joint replacement partner for the organization.

Kalamazoo, Mich.-based Stryker has been designated as “The Official SmartRobotics Joint Replacement Partner of Minor League Baseball (MiLB),” according to a news release. The company is also the presenting partner of “Own the Walk,” which it touts as the first-ever national platform to encourage fans of all ages to stay active through everyday activities like walking.

Under the first-of-its-kind, multiyear national partnership, Stryker and MiLB will host “Own the Walk” gameday events at MiLB stadiums across the U.S. while displaying the company’s Mako SmartRobotics joint replacement system for all those on-hand.

Fans at each event will be offered the chance to participate in multiple in-stadium experiences and activities while learning about the Mako platform, which uses…

Stryker sees pandemic sales effects softening

Stryker (NYSE:SYK) executives see hip and knee procedures growing in 2021, based on a trend that started in March and continued in April.

Such elective procedures were still sluggish in early 2021 due to the pandemic, but regional recovery from COVID-19 — particularly in the U.S. and Asia — bodes well for the company, CEO Kevin Lobo told analysts on the company’s first-quarter 2021 earnings call.

Stryker posted strong international sales of medical/surgical and sports medicine equipment compared with 2019, which Stryker execs chose for comparison purposes rather than 2020. The company also had double-digit organic growth (12.8%) in its interventional spine and neurotech businesses.

Sales of Stryker’s Mako robotic systems had a “banner” first quarter, Lobo said on the call, transcribed by Seeking Alpha, following similar positive results in Q4 2020. Mako sales lifted “other ortho” U.S. sales by 49% in the U.S. Stryker h…

Boston Scientific, Stryker may get extension on Medicare payments

CMS has issued a proposal for the 2022 fiscal year that would potentially help big medtech companies like Boston Scientific and Stryker.

Released yesterday, the proposal for the Medicare Hospital Inpatient Prospective Payment System (IPPS) and Long Term Care Hospital (LTCH) offers updated Medicare payment policies and rates for operating and capital-related costs of acute care hospitals and for certain hospitals and hospital units excluded from the IPPS for fiscal 2022.

CMS’ aim for the proposal is to close healthcare equity gaps and support greater access to certain diagnostics nad therapies during the ongoing public health emergency brought on by COVID-19 and beyond.

Within the proposal is a list of technologies that would receive an additional year of new technology add-on payments (NTAP), which includes devices from Boston Scientific and Stryker, among several other medtech companies.

Boston Scientific’s E…