MPO’s Most-Read Stories This Week—Feb. 24

MPO website visitors followed the money trail this week. 

Financial-focused news drove the bulk of website traffic in this next-to-last week of February, with an AngioDynamics-Spectrum Vascular transaction leading the charge. AngioDynamics sold its PICC and Midline product portfolios to Spectrum Vascular in a deal valued at up to $45 million. The transaction consisted of AngioDynamics’ PICC, Midline, and tip location products. The combined portfolio generated about $43.5 million in annual sales during the company’s fiscal year 2023.

Both Cagent Vascular and BiVACOR amassed pageviews for their respective funding windfalls—Cagent Vascular closed a Series C financing round worth more than $30 million while BiVACOR nabbed a $13 million grant for its total artificial heart development. Cagent Vascular’s funding round was led by U.S. Venture Partners (USVP) with participation from new investor Blue Ridge Medical and existing investors, including Sectoral Asset Management. The company will use the money to boost U.S. market adoption and expand its Serration angioplasty tech portfolio. BiVACOR’s grant came from the Australian Government’s Medical Research Future Fund (MRFF) grant through the Artificial Heart Frontiers Program (AHFP) to support the company’s Total Artificial Heart (TAH) program and future product enhancements. The award will support clinical work for the BiVACOR TAH and start development for integration of wireless power sources for the device. 

The other capital-centric narrative of interest to cybervisitors was the double-digit growth potential of China’s robotic surgical systems market.

1. AngioDynamics Sells PICC, Midline Portfolios to Spectrum Vascular for $45M

2. Double-Digit Growth Forecast for China’s Robotic Surgical Systems Market

3. Cagent Vascular Pockets $30M in Series C

4. BiVACOR Awarded $13M to Support Total Artificial Heart Trials

5. Juan Diaz Cartelle Named Chief Medical Officer at Microbot Medical