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What's new in MedTech & HealthTech (February 2024)

Welcome to our newest blog edition, curated by our Director, Josh Craven. This iteration delves into the latest developments and breakthroughs in medical technology and digital healthcare. Discover exciting innovations, investment updates, and groundbreaking initiatives that underscore the remarkable progress within the MedTech sector. Our blog series is committed to keeping you informed and inspired by examining various topics, including new regulatory frameworks, intellectual property disputes, profit surges, virtual reality training applications, and cutting-edge artificial intelligence in diagnostics. So please sit back, relax, and savour the read as we explore the vibrant and ever-evolving world of MedTech and HealthTech.

A New EU Product Liability Framework on MedTech Devices

The introduction of the new EU Product Liability framework is expected to impact the MedTech industry significantly. The directive aims to balance protecting consumers from defective medical devices and fostering industry innovation. As a result, companies will need to reevaluate their risk management strategies to remain compliant. Read the full article here.

MedTech Firms Clash over Reverse Shoulder Surgery Tech

MedTech company Arthrex claims that its competitor, Exactech, has infringed upon its reverse shoulder surgery device patent. As both companies are key players in the orthopaedic sector, this legal clash can influence the market and spur further innovation. Find out more about this case here.

Global MedTech Announces a 7.6% Rise in Profits.

Smith & Nephew, a global MedTech firm, reports a 7.6% increase in profits despite the ongoing effects of the COVID-19 pandemic. The company attributes its successful results to innovations in surgical devices and a strategic focus on emerging markets. Learn more about Smith & Nephew’s growth here.

Oxford Medical Simulation and NHSBT combined to bring Virtual-Reality Blood Transfusion Training Technology to market.

Innovative virtual reality (VR) technology is now used to train medical professionals in blood transfusion procedures. The groundbreaking VR tool, created by health tech company NHSBT and Oxford Medical Simulation, aims to improve patient outcomes and reduce practitioner errors. Find out more about this VR technology here.

Spectral.AI obtains UKCA authorisation for burn wound diagnosis system.

Spectral.AI has secured UKCA authorisation for its cutting-edge artificial intelligence (AI) system, which is designed to diagnose burn wounds more accurately. Implementing the innovative technology is expected to improve patient care by streamlining the diagnosis and treatment process. Read more about this advancement here.

Johnson & Johnson Secures European Afib Approval for Varipulse

Johnson & Johnson has received European approval for its Varipulse Pulsed Field Ablation System, a novel device designed to treat atrial fibrillation (Afib) patients. The non-thermal, tissue-selective technology showcases a breakthrough in MedTech and has the potential to revolutionise cardiac procedures. Discover more about Varipulse here.

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