Haemonetics Corp.

Dive Brief:Venture capital investment in medtech companies rose roughly 3% year over year to $3.3 billion in the second quarter, according to a new report from market data resarch firm Pitchbook.At the current rate, VC funds will invest close to 20% more in medtech firms this year than in 2023, Pitchbook said, offering support for the view that the industry has passed through the trough of funding.The value of exits for venture-backed medtech companies increased to $6.6 billion in the first half of 2024, although the data are skewed by Tempus initial public offering. Acquisitions of late-stage VC startups have been rare, a fact Pitchbook attributed to ongoing price gaps between buyers and sellers.Dive Insight:The number and value of VC investments in medtech companies peaked in 2021, per Pitchbooks data. Compared to the peak, the number of investments in 2023 was down 27% and the amount invested had fallen by 45%. Last year appears to be the low point for investment.VC investment fell sequentially in 2024, slipping from $3.5 billion in the first quarter to $3.3 billion in the second quarter. However, investment in the second quarter was still up about 3% year over year. The results suggest investment in 2024 can exceed the $11.5 billion seen last year.The number of investments, at 419, is tracking below the pace of 2023. The amount invested has increased despite flat to down deal numbers because VC funds have placed big bets on a small number of companies. Pitchbook said there were five deals above $100 million in the quarter, and the increase indicates ongoing investor preference for quality and optimism around greater exit possibilities.A $150 million investment in Insightec, a developer of focused ultrasound treatment, was the largest VC round in the second quarter. Pitchbook estimates Insightec will exit by listing its shares on a stock exchange.The prediction follows a quarter in which Tempus raised $400 million in an IPO. The public offering by the precision medicine company showed unprofitable medtech companies can go public in the current environment. Pitchbook said Tempus success could shift investors' willingness to support unprofitable companies if a public listing emerges as a realistic possibility.The extent to which the IPO window opens could affect mergers and acquisitions. Belkin Vision, Attune Medical, C2i Genomics and Blackrock Neurotech were all acquired in the quarter. Combined with the IPO exits, the deals led Pitchbook to view VC exit levels in medtech for 2024 so far as a solid win for the sector and a positive sign for deal value and exit momentum going forward.Yet, the Pitchbook analysts said deal activity for late-stage VC startups is lagging acquisitions of larger, publicly traded companies such as Shockwave Medical, Axonics, Abiomed and Silk Road Medical. The analysts attributed the lack of buyouts of venture-backed firms to sellers asking for more than buyers are willing to pay. The availability of IPOs as an exit option may influence whether the valuation gap persists.If the IPO window remains closed, this could benefit strategics from an M&A standpoint, as startups may be more willing to be acquired at a reasonable multiple, wrote Pitchbook. '

WEDNESDAY, Aug. 7, 2024 -- For patients with preoperative iron deficiency anemia (IDA), intravenous (IV) iron treatment is associated with a significant reduction in 30-day postoperative mortality and morbidity compared with red blood cell (RBC) transfusion, according to research published online July 22 in Anesthesia & Analgesia . Una E. Choi, from the Johns Hopkins University School of Medicine in Baltimore, and colleagues conducted a propensity score-matched retrospective cohort analysis from 2003 to 2023 to examine trends in preoperative IDA treatment among surgical patients diagnosed with IDA within three months preoperatively. A cohort of 77,179 patients with preoperative IDA who were treated with preoperative IV iron but not RBCs was compared to a cohort of 77,179 patients receiving preoperative RBCs but not IV iron. The researchers found that preoperative IV iron was associated with a lower risk for postoperative mortality and a lower risk for postoperative composite morbidity compared with RBC transfusion (relative risks, 0.63 and 0.76, respectively). IV iron was associated with higher hemoglobin in the 30-day postoperative period (10.1 ± 1.8 versus 9.4 ± 1.7 g/dL) and a reduced incidence of postoperative RBC transfusion (relative risk, 0.30) compared with RBC transfusion. "This change in practice represents a promising opportunity to continue to improve outcomes and reduce avoidable blood transfusions along with their associated costs," the authors write. One author disclosed ties to Octapharma; another author disclosed ties to Haemonetics.

CLEVELAND, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Sotera Health Company (Nasdaq: SHC), a leading global provider of mission-critical end-to-end sterilization solutions and lab testing and advisory services for the healthcare industry, announced today it has appointed Christopher Simon as a new independent director to its Board of Directors. Mr. Simon will serve as a member of the Leadership Development and Compensation Committee of the Board of Directors. For approximately the past eight years, Mr. Simon has served as the President and Chief Executive Officer of Haemonetics Corporation (NYSE: HAE), a global medical technology company, as well as a member of Haemonetics’ Board of Directors. Previously, Mr. Simon served as a Senior Partner of McKinsey & Company, a strategy and management consulting firm, where he led the Global Medical Products Practice. Prior to his career at McKinsey & Company, Mr. Simon served in commercial and operating roles at Baxter Healthcare Corporation, now Baxter International Inc., a healthcare company, and as a U.S. Army Infantry Officer in Korea and with the 1st Ranger Battalion. He brings more than 30 years of experience in helping businesses transform and grow. “We are excited to welcome Chris to our Board of Directors,” said Michael B. Petras, Jr., Chairman and Chief Executive Officer of Sotera Health. “Chris’s leadership experience as a public company CEO and his extensive commercial and strategic experience in the life sciences industry will serve as tremendous assets as we continue to grow.” Mr. Simon also currently serves on the board of directors of AdvaMed, a global trade association of companies that develop, produce, manufacture and market medical technologies. Mr. Simon earned a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania and an MBA from Harvard Business School. About Sotera HealthSotera Health Company is a leading global provider of mission-critical end-to-end sterilization solutions and lab testing and advisory services for the healthcare industry. Sotera Health goes to market through three businesses – Sterigenics®, Nordion® and Nelson Labs®. Sotera Health is committed to its mission, Safeguarding Global Health®. Contacts Jason PetersonVice President Investor Relations & Treasurer, Sotera HealthIR@soterahealth.com Kristin GibbsChief Marketing Officer, Sotera Healthkgibbs@soterahealth.com Source: Sotera Health Company