MedTech Innovator January 2021 Newsletter


Letter from the CEO

Signs are pointing to 2021 shaping up to be a GREAT year for medtech. Right out of the gate, CMS granted my wish from last month’s newsletter, finalizing the MCIT rule, providing accelerated Medicare coverage for FDA Breakthrough devices. This is a win-win-win, reducing a major reimbursement risk factor for innovators & investors, and a HUGE win for patients who gain earlier access to innovative technologies. If you aren’t thinking about Breakthrough designation, you should be.

Funding and M&A activity in 2021 is promising. This month alone, our portfolio companies raised over $160 million. In context, our portfolio raised $600M for all of 2020,which was itself a great year. There has been a flurry of January M&A activity, including 2 acquisitions in our portfolio. Notably, BardyDx has an exit multiple at 19x revenues, according to an insider’s LinkedIn post- great news for investors & innovators. Strong comps are important.

SVB reported encouraging data in their 2020 Healthcare Investments & Exits report. $17B in new capital was raised by VC funds. By my personal tally, healthcare-focused VC’s have raised over $3B in fresh capital this January alone. That’s a lot of dry powder for innovators. Also good- total Device and HealthTech investments were up for the year. Disappointing- Device Series A was down (again). I believe there is a huge opportunity. If you’re interested in Device Series A investing, please reach out to me at my LinkedIn below.

Want proof of the opportunity ahead in 2021? We already have over 1,100 applications to our US program. Our Road Tour pitch events begin in February. If you are an investor or an industry executive, read below about how you can participate in what one of our partners described as “the most productive day in my career.”

Here’s to a great 2021. I hope to see you on our (virtual) Road Tour!

Paul Grand, CEO, MedTech Innovator
connect with me on Twitter & LinkedIn

News & Updates


Sign up to Judge in the MedTech Innovator 2021 Virtual Road Tour
        “the most productive day in my career” — past judge

We’re not kidding with that quote. Our Road Tour pitch events have been described by our judges as “the first day I can remember never looking at my email or cell phone” and “the most productive day in my career”. These are tightly organized partnering sessions where world class industry judges will meet with the top startups and scaleups from our 2021 applicant pool. Startups get feedback and judges gain insights from peers and other experts. 

Judges at each event include up to 100 investors, providers, customers, KOL’s, and senior executives from our partners at world-class medtech companies such as Johnson & Johnson, Olympus, Nipro, Gore, Baxter, Edwards Lifesciences, Dexcom, Aasahi Intecc, Maxim Integrated, Fujikura, Jabil and others. Historically, participation has resulted in investment, recruitment of advisors, and partnerships, among other outcomes. 

If you are a business development representative, investor, payer or provider interested in serving as a judge, then please email us at

Upcoming Pitch Event Dates & Themes

Feb. 17 – Patient Monitoring / Telehealth
Feb. 18 – ENT / Behavioral Health / Sleep Medicine
Mar. 3 – Next-Gen Surgical
Mar. 8 – Cardiology / Cardiovascular / Robotics (part of #LAMedTechWeek)
Mar. 17 – Endocrinology / Diabetes / Metabolism
Mar. 18 – POC Diagnostics / Laboratory Medicine
Mar. 31 – GI / Renal / Neurology
Apr. 1 – Biomaterials / Sensors / Health IT / Digital Health
Apr. 14 – Digital Therapeutics / Chronic Disease Management
Apr. 15 – Infectious Disease / Respiratory / Critical Care
Apr. 28 – Pain Medicine / Orthopedics / Vascular / Interventional
Apr. 29 – Oncology / OB-GYN / Ophthalmology
May 6 – Mid-Stage Companies (raising series C or later)

radxSupporting Promising Medtech Firms:
Interview with Paul Grand, CEO of MedTech Innovator

Medgadget’s Conn Hastings interviewed MedTech Innovator Founder & CEO, Paul Grand, on the origins of MedTech Innovator and it how is has grown to support innovators in the industry.

EXCERPT: Medgadget: How do you anticipate that the COVID-19 pandemic will affect the Medtech landscape, and which medical technologies do you see emerging as the most important within the next ten years?

Paul Grand: COVID-19 has raised awareness of the importance of the Medtech sector, and I believe we’ll see a significant uptick in investor interest as a result. The pandemic has introduced systemic changes in how healthcare technology is developed and delivered, from executing clinical studies to the diagnosis, treatment, and monitoring of patients. I believe the genie is out of the bottle, and these changes are permanent. Read the full article here.

Upcoming Events & Deadlines

radxMedTech Color Pitch Competition Application Deadline: Feb 5

MedTech Innovator is proud to support MedTech Color in launching their inaugural Pitch Competition to support Black and LatinX MedTech founders. Eligible founders have the opportunity to compete for $100K in cash and services to accelerate their growth. The Top 10 companies selected will also receive a fast pass to pitch during the MedTech Innovator 2021 Road Tour, where they will be in contention for up to $500K in prizes. Deadline to apply is Feb. 5. To learn more about MedTech Color click here, and use this link to apply.

Portfolio News


Hillrom Announces Planned Acquisition of Bardy Diagnostics, Inc. (Jan 19)

Itamar Medical acquires Spry Health to improve remote sleep apnea treatment (Jan 13)
Awards and Funding

Interventional Robotics Startup Moray Medical Secures $3.3M Seed Financing Led by 415 CAPITAL (Jan 27)

Harvard spin-off CELLVIE closes $5M seed round in pursuit of a new treatment modality: therapeutic mitochondria transfer (Jan 25)

Israeli AI FemTech solution secures prestigious US cancer grant of $2.3M to advance women’s healthfeaturing MobileODT (Jan 25)

Koya Medical Closes $11M Financing to Accelerate Treatment for Lymphedema and Venous Disorders (Jan 14)

GTT Group’s Patent Equity Fund Ideaship Invests in 8chili to Deploy Revolutionary Surgical Technology to Build the Foundation for Autonomous Surgeries (Jan 14)

Promaxo Raises $4.17M in Funding Round Led by Huami Corporation (Jan 13)

NEUROFLOW closes $20M Series B Investment (Jan 12)

Novus Diagnostics gets €2.4M grant for rapid sepsis test (Jan 12)

CathWorks Announces $30M in New Financing (Jan 7)

CorWave Raises $40M in Series C Funding for Its Breakthrough Heart Pump (Jan 6)

Avisi closed an oversubscribed Seed round (Jan 5)
Approvals and Breakthrough Device Designations

Alleviant Medical Receives Breakthrough Device Designation From FDA for Transcatheter Technology (Jan 25)

PEDRA™ Technology Receives FDA Breakthrough Device Designation for its PEDRA™ Xauron™ Real-Time Tissue Perfusion System (Jan 25)

Lightpoint’s SENSEI robotic gamma probe gains CE mark for sentinel lymph node detection (Jan 20)
Study Results and other Media

Moray’s Robotic Trans-Catheter Mitral Repair System (Jan 19)

HealthyU’s 7 lead ECG makes it easier to monitor patients remotely (Jan 14)

Vancouver-based Stoko creates products for ‘athletes of all abilities’ (Jan 9)

Rhaeos: Greater Insight for Hydrocephalus Solutions (Jan 7)

How artificial intelligence and augmented reality are changing medical proctoring during COVID-19featuring ExplORer Surgical (Jan 4)

Onkos Surgical® continues its innovation in musculoskeletal oncology and complex orthopaedic reconstruction with the launch of the ELEOS™ Proximal Tibia with BioGrip™ technology (Dec 21)

Safety and Efficacy of Intermittent Colonic Exoperistalsis Device to Treat Chronic Constipation: A Prospective Multicentric Clinical Trialfeaturing MOWOOT (Dec)

Thank You to our 2021 Sponsors

From first hand experience, we can definitively say that our corporate partners are among the most innovative companies in the world. If you are interested in working with these leaders and best-in-class innovators, please reach out to us. The largest life science accelerator in the world wants to partner with you in 2021!

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