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The biggest medical device VC deals of 2022

Enable Injections, which makes the enFuse device, raised $215 million in January 2022. [Photo courtesy of Enable Injections]

Last year was definitely a slower year for medical device VC deals than the year before.

Biofourmis was the only medical device developer in the 10 largest healthcare VC deals of 2022, according to a ranking provided to Medical Design & Outsourcing by Silicon Valley Bank (SVB).

Because we love devices at Medical Design & Outsourcing, we asked SVB for a ranking of 2022’s largest medical device VC deals after Biofourmis, which raised $325 million in its 2022 series D round. (The year before that, CMR Surgical’s $600 million Series D financing round was the largest medical device VC deal of 2021.)

SVB obliged, once again drawing upon its own proprietary information and data from Pitchbook. The dealmakers include device developers with innovative methods for …

October 2022 Issue: Women in Medtech

Rachel Ellingson is driving Zimmer Biomet toward new tech

What Laura Mauri learned from a ‘firestorm’ in her first months at Medtronic

How Medline maintains quality while innovating and growing

How a wrist-worn device treats essential tremor

Diversity in medtech: 2022 markedly the best for women in medtech

Diverse executive teams bring more innovation to medtech Diversifying the executive suite is more than just a push for representation — it helps bring more diverse ideas to the table to innovate for more than half of the global population.

The leadership gap in the medical device industry closes slightly every year, but women still account for less than a quarter of executive roles, according to our annual analysis in this Women in Medtech edition of Medical Design & Outsourcing.

Women hold just 23% of executive roles at the top 100 medical device companies, up 2 percentage points since 2021. After Accuray and Ambu appointed f…

How NeuroOne and Zimmer Biomet will partner on robotic brain surgery

The NeuroOne Evo sEEG [Photo courtesy of NeuroOne]

NeuroOne is preparing its depth electrode technology for commercialization through Zimmer Biomet (NYSE: ZBH) while waiting for FDA feedback on its latest submission.

NeuroOne’s Evo stereoelectroencephalography (sEEG) device won FDA 510(k) clearance in September 2021 for recording, monitoring, and stimulation of electrical signals at the subsurface level of the brain.

That clearance was for temporary use (less than 24 hours), and NeuroOne applied in November to extend the duration of use to less than 30 days. The FDA denied that application in May, but said the company could try again with new subacute toxicity biocompatibility evidence.

NeuroOne CEO Dave Rosa [Photo courtesy of NeuroOne]

“We ran into a methodology issue or disagreement with them on the last test that we performe…

Join us at DeviceTalks West, the World’s Fair of Medtech

Intuitive Surgical CEO Gary Guthart will participate in a keynote interview at DeviceTalks West 2022. [Photo courtesy of Intuitive Surgical]

October’s DeviceTalks West conference is focused on the future.

The best-seller “Devil in the White City” may have darkened the perception of world’s fairs, but these international convocations have long presented visitors with an optimistic and hopeful view of the future, thanks in no small part to new technology. (The next one is scheduled for 2025 in Osaka, Japan, by the way.)

I like to think we’ll be following similar guidelines at the upcoming DeviceTalks West conference, which will be held on Oct. 19-20 at the Santa Clara Convention Center.

This event will bring together executives from Abbott, Boston Scientific, Edwards Lifesciences, Intuitive, Johnson & Johnson, Medtronic, Outset Medical, Penumbra, Shockwave, Zimmer Biomet and many …

Zimmer Biomet adds ESG and CEO visibility to executive’s duties

Zimmer Biomet Chief Communications and Administration Officer Keri Mattox [Photo courtesy of Zimmer Biomet]

Zimmer Biomet (NYSE:ZBH) today announced additional responsibilities for Investor Relations SVP and Chief Communications Officer Keri Mattox.

Mattox’s new title at the Warsaw, Indiana-based orthopedics company is chief communications and administration officer. She will be responsible for “building and executing a comprehensive strategy around Environmental, Social and Governance (ESG) initiatives and increasing CEO visibility, engagement and accessibility,” the company said in a news release.

Mattox will report to Chair, President and CEO Bryan Hanson, who said the new ESG function is essential “as we continue to focus on delivering on our mission to alleviate pain and improve the quality of life for people around the world.”

“Since joining Zimmer Biomet …

Zimmer Biomet narrowly avoids shareholder rebuke on executive pay

Zimmer Biomet CEO Bryan Hanson [Photo courtesy Zimmer Biomet]

An unusually large share of Zimmer Biomet (NYSE:ZBH) investors voted against the orthopedics company’s pay packages for top executives at the annual shareholder meeting.

About 54 percent of voting shareholders supported the pay packages of the company’s five top-paid executives at the May 13 meeting, according to results filed with the SEC yesterday.

In 2021, nearly 93 percent of voting shareholders supported the executive compensation plan in what’s known as the Say on Pay vote, the company said in an SEC filing.

Because these are advisory votes, they don’t require the board or management to take action and won’t affect executive pay unless the board takes steps on its own. But it’s a way for investors to put the board and top executives on notice.

How much does the CEO of Zimmer Biomet and his t…

Vafa Jamali has big plans for ZB spinoff ZimVie — but it’ll take time

ZimVie CEO Vafa Jamali

ZimVie CEO Vafa Jamali thinks there are areas in the spine space that provide opportunities for growth, including in the pediatric devices.

The efforts, though, will take years for the company — a spinoff of Zimmer Biomet’s spine and dental businesses.

That was the big takeaway when MassDevice and Medical Design & Outsourcing caught up with Jamali today, shortly after he rang in the Nasdaq on the first day of ZIMV shares trading. (Listen to the full interview during our upcoming DeviceTalks Weekly podcast.)

Over the past decade, Jamali rose through the ranks at Covidien and then Medtronic after the $50 billion merger of the two companies in 2015. His focus over the years was growing business in the gastroenterological diseases space. Now Jamali has the chance to do it again in the spine and dental area — except he can run it all from the corner office, an oppor…

Former Zimmer Biomet executive has a new job

Carrie Nichol [Photo courtesy of Zimmer Biomet]

Carrie Nichol, the former chief accounting officer of Zimmer Biomet (NYSE:ZBH), has a new job outside of the medtech industry.

Nichol, who also served as vice president, controller and principal accounting officer at Zimmer Biomet, is now a VP and controller at Minnetonka, Minnesota-based Cargill.

Her departure was among the many notable medtech executive moves of 2021, and her destination wasn’t clear until recently.

Nichol left Zimmer Biomet in November after two years with the Warsaw, Indiana-based medical device company, which she joined in 2019 after serving as SVP, controller and chief accounting officer at pharma giant Endo International.

Zimmer Biomet did not name Nichol’s new employer when announcing her plans to leave, but a non-compete signed in 2019 meant she would likely exit the medtech industry (if the agreement is s…

Zimmer Biomet’s plan to be the “boldest” company in medtech

Ivan Tornos is the chief operating officer of Zimmer Biomet. [Photo courtesy of Zimmer Biomet]

Ivan Tornos wants to transform Zimmer Biomet (NYSE: ZBH) into a fast-moving firm that better leverages tech in orthopedics.

DeviceTalks Editorial Director Tom Salemi spoke with Tornos, chief operating officer of Zimmer Biomet, about the company’s broad technology offerings including its ZBEdge, Persona IQ smart knee implant and other digital data collectors.

Tornos joined the Warsaw, Indiana-based company in November 2018 as president of the orthopedics group, became group president of global business and the Americas in 2019 and was promoted to serve as chief operating officer — a new position at Zimmer Biomet — in March 2021.

Go to DeviceTalks.com to hear the entire conversation. (We’ve edited the following excerpt for brevity and clarity.)

As chief operating officer, what are your responsibilit…

Zimmer Biomet’s chief accounting officer is leaving for a new job

Carrie Nichol [Photo courtesy of Zimmer Biomet]

Chief Accounting Officer Carrie Nichol is leaving Zimmer Biomet (NYSE:ZBH) effective Nov. 26, the Warsaw, Indiana-based medical device company said on Friday.

Nichol also serves as VP, controller and principal accounting officer. She joined Zimmer Biomet in September 2019 from pharma giant Endo International, where she was SVP, controller and chief accounting officer.

“Nichol is pursuing another employment opportunity and her departure is not the result of any disagreement regarding the company’s financial reporting or accounting policies, procedures, estimates or judgments,” Zimmer Biomet said in a filing with the U.S. Securities and Exchange Commission.

Derek Davis will serve as principal accounting officer and interim controller and chief accounting officer while the company searches for Nichol’s replacement. Davis previously ser…

Zimmer Biomet introduces OptiVu mixed reality platform, demos new ZBEdge offerings

Zimmer Biomet’s OptiVu Surgical Demo app will let surgeons and patients visualize a procedure together.

Zimmer Biomet (NYSE:ZBH) today demonstrated three new ZBEdge offerings connecting robotic and digital healthcare technology.

The Warsaw, Indiana-based medical device company started off by introducing its new OptiVu Mixed Reality Solutions platform, which will be used with Microsoft HoloLens smartglasses and three applications available this winter.

OptiVu Mixed Reality Apps

The first application employing mixed reality (a combination of virtual reality and augmented reality) is OptiVu Instrument Assembly, which uses image recognition to guide a user step-by-step through instrument assembly. The app is “designed to give the user confidence that each instrument was assembled correctly and help anticipate the next surgical step,” Global Robotics Director Stephen Bernous said.

Another app…

Women researchers receive a fraction of funding from the world’s biggest medtech companies

The gender divide in medtech extends beyond leadership and into funding for investigational studies by U.S. physicians.

Only 6.7% of physicians who received research payments from the world’s largest medical device companies in 2020 were women, according to an analysis of Medical Design & Outsourcing’s Big 100 list of medtech companies and CMS Open Payments data.

Among the 20 medical device companies that fund research by U.S. physicians are 3M, Abbott, BD, Boston Scientific, Johnson & Johnson (dba J&J Surgical Vision and J&J Vision Care), Medtronic (dba Medtronic, Medtronic Minimed, Medtronic USA, Medtronic Vascular), Royal Philips (dba Philips Electronics), Stryker and Zimmer Biomet.

Together, those companies paid $3.9 million to 312 doctors in 2020, but only 21 were women, receiving a collective $402,600.

Women physicians, on average, received 15.7% of payments from each of the top medtech companies, but accounted f…