LSI

Are the days of single-product Medtech companies going public over? Duke Rohlen, CEO of Ajax Health, argues that the era of single-product Medtech companies thriving in public markets is over. The current investment climate demands more than just potential; there’s an increasing focus on profitability. Rohlen explains that single-product companies often struggle because they lack the resources to diversify their portfolios. They invest heavily in sales and marketing, but without a broader range of products, they can't maintain the acquisition premium that once made them attractive to buyers. To succeed in today's market, Rohlen advises Medtech companies to focus on diversification and ensure there’s a clear path to profitability. Without these, companies may find it difficult to sustain value in the public markets or attract long-term investors. Catch the full panel, “Medtech Buyouts by Private Equity” now available on our website and YouTube channel. Featured Panelists: • David Uffer (Moderator) — Trinity Life Sciences • Antonio Sánchez-Cordero — ARCHIMED • Duke Rohlen — Ajax Health • Erich Wolff — Partners Group You can hear more from Duke Rohlen, CEO and Managing Director of Ajax Health, at LSI Europe '24 where he will be giving a Keynote Presentation based on his recently published thesis, "The Middle Path to Innovation," published in the Harvard Business Review. He will discuss strategies for developing high-growth products in slow-growth companies and present the growth driver model—a framework that partners corporations with external investors to identify and develop innovation opportunities, drawing on corporate resources and talent and externally recruited entrepreneurs.

With just 3 weeks to go before LSI Europe ‘24, we're announcing our last call for presenter applications. Limited spaces are still available before we reach capacity. Nearly all presenting companies have been selected, and we are seeing an unprecedented investor turnout. This year, we will host more top funds than ever before, creating the highest investor-to-attendee ratio in our history. If you’re looking to connect with industry-leading investors—venture capital, private equity, angel groups, accelerators, and more—this is the place to do it. You can view a comprehensive list of confirmed investors on our website. Interested in speaking, presenting, or exhibiting at LSI Europe '24? Join hundreds of global Medtech and Healthtech leaders in Sintra, Portugal this September 16-20th. Apply today while space is still available.

We're kicking off day one of LSI Europe '24 with Dr. Todd Brinton, MD, Corporate Vice President, Advanced Technology, and Chief Scientific Officer at Edwards Lifesciences, as our opening Keynote Speaker. A champion of cardiovascular innovation and a practicing clinical cardiologist, Dr. Brinton has deep ties to the Medtech community as a founder, board member, and advisor to several startup companies, including his role as physician founder, board member, and chief medical officer of Shockwave Medical, Inc. (SWAV). Before joining Edwards, Dr. Brinton was a clinical professor of medicine (cardiology) and adjunct professor of bioengineering at the Stanford University School of Medicine where he also served as the fellowship director at the Byers Center for Biodesign from 2006 to 2019, mentoring numerous teams in developing new technologies. This Keynote will take place at 9:10 am on September 17th and be moderated by Dr. Josh Makower, Co-Founder and Director of the Stanford Byers Center for Biodesign. Interested in speaking, presenting, or exhibiting at LSI Europe '24? Join hundreds of global Medtech and Healthtech leaders in Sintra, Portugal this September 16-20th. Apply today while space is still available.

FaceHeart’s vision is to leverage its patented rPPG and AI solution to enhance the quality and accessibility of healthcare, contributing to the acceleration of the digital health industry. FaceHeart offers non-invasive, seamless and contactless, video-based vital signs solution, FaceHeart Vitals™, that measures all the key vital signs, including Heart Rate, Blood Pressure, SpO2 and Respiration Rate as well as health indicators with a simple 45-second selfie video. As a Software as a Medical Device (SaMD), FH Vitals SDK is the only FDA-cleared rPPG technology that transforms your everyday devices with cameras into health monitors, enabling more affordable and high-quality healthcare anytime and anywhere. The company has made significant strides recently, achieving milestones such as: • Received FDA 510(k) clearance (K223622) for its contactless vital signs solution, FH Vitals SDK (Heart Rate). (Sept 2023) • Currently working on additional clearance for other vitals • Has a strong portfolio of patents in both the US and Taiwan, with many granted and more pending. • Collaborated with numerous hospitals and received over 200M clinical datasets from over 6000 testers, enabling its solution to achieve medical-grade accuracy. (June 2024) We’re excited to announce that CEO, Jerry S Chang has been selected to present FaceHeart at LSI Europe ‘24 this September 16-20th in Sintra, Portugal. Join us in Portugal to meet with Jerry and learn more about FaceHeart.

Hot off the press! The latest edition of The Memo, featuring Virpi Muhonen, Co-Founder & CEO of Askel Healthcare Ltd is out now! Here’s a preview of this week’s edition of our weekly newsletter, The Memo: Led by Co-Founder & CEO Virpi Muhonen, Askel Healthcare is transforming knee cartilage repair with their COPLA® Cartilage Implant. Backed by promising clinical trial results and FDA Breakthrough Device Designation, the company is advancing toward market authorization, aiming to set a new global standard in orthopedic care. The Current Landscape Cartilage lesions, especially in the knee, present a significant clinical challenge. These injuries, if left untreated, often lead to the progressive development of osteoarthritis—a debilitating degenerative joint disease that severely impacts a patient’s quality of life. The current standard of care for treating these lesions is fraught with limitations, often failing to deliver the long-term outcomes that patients need. "Unfortunately, all these first-line surgical treatments have poor long-term outcomes," explains Muhonen. "Patients who suffer a traumatic knee injury, often undergo procedures like microfracturing, cartilage grafting, or simple cleaning of the damaged area, but these solutions are not enough. They provide temporary relief, but the underlying issue remains unresolved." In the United States alone, approximately 750,000 knee cartilage repair operations are performed annually. Most of these—around 600,000—are first-line treatments such as microfracturing and cleaning procedures. Despite the high volume of surgeries, the outcomes are often disappointing. Patients are frequently left with persistent pain, limited mobility, and a significant risk of requiring additional surgeries down the line. Inside the Innovation Askel Healthcare’s innovative solution, the COPLA® Cartilage Implant, is designed to address the fundamental issues that plague current treatment options, offering a more effective and patient-friendly alternative for cartilage repair. "The COPLA Cartilage Implant is made of biodegradable polymers, creating a three-dimensional environment that allows cartilage tissue to heal," explains Muhonen. "What sets COPLA apart is its ability to enable immediate weight-bearing post-surgery. Patients can move freely without any weight-bearing restrictions, which is not only convenient but crucial for the healing process." Continue Reading: https://lnkd.in/gVMhgARb

Summer vacations are winding down, but the LSI Alumni are still on a roll This week, #LSIAlumni raised new funding, appointed new executives, emerged from stealth, and much more on the road to LSI Europe '24. Your 60-second news recap: Backpack Healthcare — Hafeezah Muhammad → Received a $1.1M grant funded by the Maryland Community Health Resources Commission to provide vital support to students, families, and caregivers within Howard County Public Schools. CairnSurgical, Inc. — Dave Danielsen → Closed $4.5M in a Series A2 financing, led by Morningside Ventures. Diality — Osman Khawar → Announced the appointment of Dr. Jennifer Joe, MD as Vice President, Medical Affairs. Endovascular Engineering — Mike Rosenthal → Announced the appointment of Dan Rose as Chief Executive Officer. IKONA Health — Tim Fitzpatrick → Announced a collaborative study with Dialysis Education Services and Lifeliqe to evaluate the impact of Lifeliqe's virtual reality product on dialysis workforce training programs conducted by DES. → This partnership focuses on assessing the effectiveness of VR tools in improving training outcomes, with a particular emphasis on workforce engagement, recruitment, and retention. MAUI Imaging — Rick Altinger → Emerged from stealth and announced a $4 million contract with the Department of Defense. Minerva Surgical, Inc. → Announced the appointment of Darin Hammers as new CEO. Navigation Sciences — Alan Lucas → Selected as ‘Best Start-Up’ candidate by the Prix Galien Foundation. Nitinotes Surgical — Raz Bar-On → Announced the appointment of Lloyd Diamond as CEO. Proprio — Gabriel Jones → Announced the appointment of Bryan Humbarger as Chief Commercial Officer. Vascular Perfusion Solutions, Inc. — Rafael J. Veraza, PhD, MPH → Awarded a $160,000 seed grant from the Consortium for Technology & Innovation in Pediatrics (CTIP) Accelerator. Congratulations to the LSI Alumni who made major news this week.

AccurKardia is delivering clinical-grade ECG interpretation software, to cardiac monitoring companies, thereby expanding access to the benefits of remote cardiac care to millions of patients worldwide. Their flagship product, the AccurECG™ Analysis System is an FDA-cleared, cloud-based, device-agnostic, and fully automated electrocardiogram (ECG) interpretation software platform. The software provides an array of benefits, such as beat-by-beat analysis, ventricular/supraventricular ectopic beat detection, heart rate measurement, and automated interpretation of 13 different heart rhythms including sinus tachycardia, sinus bradycardia, atrial fibrillation, and atrial flutter, among others. The fully automated output of AccurECG™ improves clinicians’ review efficiencies and enables prompt treatment of patients, with results delivered in minutes. It is indicated for adults aged 22 and older. AccurKardia has achieved many major milestones recently including: • Closed a $2.7 million Seed round • Received FDA 510(k) approval for AccurECG™ Analysis System • Selected to join Cohort 3 of Mayo Clinic Platform_Accelerate a program that provides access to Mayo Clinic's rich, de-identified data sets, validation frameworks, clinical workflow planning, and mentorship • Announced its first commercial partnership with Lucem Health, a leading provider of clinical AI solutions. • Announced the appointment of Moin Hussaini as Chief Product Officer • Announced the appointment of LSI Alumni, Ken Nelson, and Francisco Martorell as Senior Advisors To catch the latest from AccurKardia, tune into Juan C Jimenez and Moin Hussaini’s Studio Interview and presentation from LSI USA ‘24 to learn more about AccurKardia’s recent progress. Available on our website and YouTube channel.

How much weight should be placed on intellectual property protection for Medtech startups? In this clip, Sabing Lee, stresses the importance for early-stage companies to file patents as early as possible to demonstrate to investors that they have obtained some meaningful intellectual property protection. The panelists also discuss how IP is not the only thing early-stage companies should be focused on. Building a strong IP portfolio should be part of a broader strategy that includes securing regulatory approvals and developing robust operational capabilities. Tune into the full LSI USA ‘24 panel, “IP: Friend or Foe in Building Medtech Ventures?” to hear more from the panelists on this nuanced discussion. Hear from: • Irfan Lateef (Moderator) — Knobbe Martens • Leah Brownlee — Lazurite • Sabing Lee — Knobbe Martens • David Beylik — Ajax Health

INNOVENTRIC is at the forefront of addressing tricuspid regurgitation (TR), a condition affecting over 4.5 million people in the U.S. and Europe. Tricuspid regurgitation (TR) is a condition where blood flows back from the right ventricle into the right atrium, causing venous congestion and reduced cardiac output. Traditional treatment options are limited—medications only alleviate symptoms, and open-heart surgery, with its high mortality rates, is rarely offered. Enter Innoventric's Trillium™ device, a groundbreaking minimally invasive solution. The Trillium device utilizes cross-caval anchoring and a multi-valve design to fit various anatomies, offering a safe and reliable alternative without the risks of migration and leaks. What sets Innoventric apart is its ability to treat the entire patient population, including those ineligible for other treatment options due to large anatomies, pacemaker-induced TR, or previous failed procedures. To learn more about Innoventric, visit our website to watch Amir Danino’s full presentation from LSI USA ‘24—available on our website and YouTube channel. You can also meet with Amir at LSI USA ‘25 on March 17th - 21st in Dana Point, California.

What does the Medtech financing market look like in Europe? In our latest LSI Europe ‘24 panel, "Medtech Financing in Europe: Current State and Insights from Successful Raises," we’ll dive into two successful 2024 raises from leading European companies, Amber Therapeutics and ONWARD Medical. We’ll hear directly from both innovators and investors about what it takes to secure capital in Europe in 2024. This panel will explore: • The fundraising journeys of Amber Therapeutics and ONWARD Medical, including the challenges they faced and the key factors that contributed to their successful raises. • Insights from EQT Life Sciences on the current Medtech investment landscape and how companies can position themselves to attract capital. • Practical advice for Medtech companies looking to navigate the European financing market in 2024 and beyond. We’ll hear from: • Roger Brooks (Moderator) — RBrooks Group • Drew Burdon — EQT Life Sciences • Dave Marver — ONWARD Medical • Aidan Crawley — Amber Therapeutics Join us at #LSIEurope24 this September 16-20th to see more panel sessions like this and connect with hundreds of global Medtech and Healthtech leaders in Sintra, Portugal. Apply on our website today while space is still available.