Relivion wearable brain neuromodulation technology; Construx Mini Ti cervical spacer with Nanovate technology; Valkyrie Thoracic Fixation System from Able Medical Devices
Relivion wearable brain neuromodulation technology from Neurolief is the first non-invasive multi-channel system for at-home treatment of acute migraines. Worn as a headset, Relivion offers precise, personalized care by delivering stimulation to six branches of the occipital and trigeminal nerves via three adaptive output channels. This releases neurotransmitters in the brainstem and modulation of brain networks associated with pain control.
Developed to enhance anterior cervical discectomy and fusion (ACDF) procedures, the Construx Mini Ti cervical spacer with Nanovate technology is the first 3D-printed titanium interbody introduced to the market by Orthofix. When compared to solid PEEK devices, the 3D-printed endplates of implants with Nanovate technology show significant increase in growth factors involved in osteogenesis and osteoblast maturation resulting in a more favorable osteogenic environment for bone ingrowth.
The Valkyrie Thoracic Fixation System from Able Medical Devicesis a fully disposable bioactive sternal plating system featuring rigid fixation combined with novel materials and bioactive science. The PEEK-based system can easily be cut during emergent re-entry, prevents post-op image scatter, and conforms to various patient anatomies. Double lead screws insert into the bone at a faster rate and increase bone purchase, while their HAnano surface treatment recruits cellular adhesion and quickly synthesizes bone for a more rigid closure.
GWS Tool Group fills three positions with new hires. Senior Application Specialist Mike Littlejohn will focus on supporting machine original equipment manufacturers (OEMs) and strategic partners across North America, helping optimize machining strategies to improve productivity for U.S. manufacturers.
Colin Arnold, application specialist, will support GWS distributors and key metalworking customers in the application of GWS high-performance cutting tool solutions, which include standard and purpose-built tooling along with countless variations of special turning inserts.
Paul Schulte, technology director, will be evaluating GWS machine technology and manufacturing processes to achieve greater efficiencies and better define best practices where needed, ensuring GWS manufacturing capabilities and technologies remain ahead of the industry curve.
Wenzel Group has hired Andreas Blind as international head of sales. After studying Product Engineering at Furtwangen University, Blind joined Hommelwerke GmbH. Through 20+ years of working for what eventually became Jenoptik Smart Manufacturing, Blind held different positions in sales, services, and marketing of complex metrology systems and solutions. He eventually relocated to the U.S. to take over sales, services, and marketing as managing director, later adding operational responsibility in addition to VP of metrology.
Accutek Inc., Helmut Diebold GmbH & Co. collaborate
Helmut Diebold GmbH & Co. and Accutek Inc. have formed a partnership. Accutek will expand its product offering to include Diebold’s toolholder and shrink-fit machine technology, further supporting distribution partners and metalworking customers throughout Mexico, Canada, and the United States. In addition to selling Diebold products, Accutek will service and support all application requirements. https://www.accutekusa.com
Medtech M&A – How do I value my medtech business?
Departments - MedTech MindSet
Considerations to calculate what your business may be worth.
As mergers and acquisitions (M&A) advisors, we’re often asked by medtech business owners about the value of their business. However, there are no simple answers because there are so many variables involved. That said, there are some general guidelines that can help you assess the potential valuation of your business.
Some of the key factors that impact the intrinsic value of your business include:
Timing – As in many things in life, in M&A, Timing is everything!
Size – It’s also true that in M&A, Size does matter!
Assets – Beyond the core value of your business, the type (and quantity) of your assets can contribute to valuation. You want a potential buyer to say: Nice assets!
Team – If you sell your business, can your team manage the day-to-day operations of the company with a new owner? In other words – (the right) People add value!
Some general guidelines for likely value expectations for your business are in the table.
As you may have noted, there’s a wide range of multiples due to so many factors involved with each company’s M&A scenario. It’s often helpful to speak to an M&A advisor to get a better idea of what the current valuation opportunities are for your specific entity.
It’s also known that the market always decides valuation. Unless someone is handing you a check with a specific amount for your company, run away from anyone who guarantees they can obtain a certain valuation for your business. If you do decide to sell your business, ensure that your specific value proposition is heard by the appropriate potential buyers for your business. And if you’re not ready to sell, it’s important to pay attention to your business fundamentals so you have the opportunity to obtain the best valuation in the future when the timing is right.
About the authors: CEO Florence Joffroy-Black is a long-time MedTech M&A and marketing expert. She can be reached at florencejblack@medworldadvisors.com. Managing Director Dave Sheppard is a former medical OEM Fortune 500 executive and an experienced MedTech M&A professional. He can be reached at davesheppard@medworldadvisors.com.
Type of business
EBITDA* multiple
Revenue* multiple
Valuation notes
Likely buyers
Emerging Growth (Pre-revenue or early stage)
NA
NA
Value based on market opportunity and clinical economic evidence
Venture capitalist (VC) as investors, or strategics as buyers
Private - Small (Under $10 million in sales)
4x to 6x
1x
Sustainability and team are key
Individuals or private equity (PE) bolt-ons
Private – Middle Market (Between $10 million and $200 million in sales)
6x to 12x
1x to 2x
High competition for these companies IF EBITDA is >15%
PE, competitor, or strategic
Private – Large (Over $200 million in sales)
8x to 20x
1x to 6x
High competition from all buyers
PE, competitor, strategic, or SPAC**
Public
12x to 20x
2x to 6x
Will often obtain a premium over current stock price
PE, competitor, or public strategic
*Growth rates (historical and projected) will impact multiples. **Special Purpose Acquisition Corporation (Public company incorporated for the primary purpose of making an acquisition).
Human tendons inspire surgical sutures
Departments - Medical Innovations
Next-generation sutures can deliver drugs, prevent infections, and monitor wounds.
Surgical sutures inspired by human tendons tough gel sheathed (TGS) suture.
PHOTO: MCGILL UNIVERSITY
Sutures are used to close wounds and speed up the natural healing process, but they can also complicate matters by causing damage to soft tissues with their stiff fibers. To remedy the problem, researchers from Montreal developed innovative tough gel sheathed (TGS) sutures inspired by the human tendon.
These next-generation sutures contain a slippery, yet tough gel envelope, imitating the structure of soft connective tissues. When researchers put the TGS sutures to the test, they found the nearly frictionless gel surface mitigated the damage typically caused by traditional sutures.
Conventional sutures hold wounds together until healing is complete, but are far from ideal for tissue repair. The rough fibers can slice and damage already fragile tissues, leading to discomfort and post-surgery complications.
According to the researchers from McGill University and the INRS Énergie Matériaux Télécommunications Research Centre, part of the problem lies in the mismatch between our soft tissues and the rigid sutures that rub against contacting tissue.
To tackle the problem, the team developed a new technology that mimics the mechanics of tendons.
“Our design is inspired by the human body, the endotenon sheath, which is both tough and strong due to its double-network structure. It binds collagen fibers together while its elastin network strengthens it,” says lead author Zhenwei Ma, a Ph.D. student under the supervision of Assistant Professor Jianyu Li at McGill University.
The endotenon sheath forms a slippery surface to reduce friction with surrounding tissues in joints and also delivers necessary materials for tissue repair in a tendon injury. In the same way, TGS sutures can be engineered to provide personalized medicine based on a patient’s needs, according to the researchers.
“This technology provides a versatile tool for advanced wound management. We believe it could be used to deliver drugs, prevent infections, or even monitor wounds with near-infrared imaging,” says Li of the Department of Mechanical Engineering.
“The ability to monitor wounds locally and adjust the treatment strategy for better healing is an exciting direction to explore,” says Li, who is also a Canada Research Chair in Biomaterials and Musculoskeletal Health.
Posted by Elizabeth Engler Modic
