MedTech 100 roundup: On the rise again

2021-08-23

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After a slight hiccup disrupted weeks of improvement, the medtech industry again flexed its muscles over the last seven days. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (Aug. 20) at 119.63 points, representing a 1.5% rise from the 117.92-point tally set a week prior. The shift marks a quick rebound from the -1.2% dip observed in the previous week and the index now sits at its highest week-ending mark ever, having actually hit an all-time best of 119.72 points on Aug. 17. Medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry remains well above the marks set around the height of the pandemic, having registered a 29.6% increase from the pre-pandemic high of 92.32 (set on Feb. 19, 2020). Moreover, it remains well ahead of the mid-pandemic low of 62.13 (March 23, 2020) as well, totaling a 92.5% ascent above that point. The industry’s performance did not correlate with the overall markets this past week as the S&P 500 Index and Dow Jones Industrial Average traveled in the opposite direction, dipping by -0.6% and -1.1%, respectively. Here are some of the major highlights from the past week as some major personnel moves took place across the industry: J&J’s Gorsky to step down as CEO Illumina completes $8B Grail acquisition, companies remain separate amid European review Stryker president Scannell to retire Ultrahuman raises $17.5M Series B for wearable glucose monitoring tech Eli Lilly forms neuroscience and immunology units amid leadership changes Strata Skin Sciences buys Ra Medical’s Pharos dermatology business Stevanato Group brings in upsized IPO worth $453.5M Alcon reports 74% sales growth in Q2, raises 2021 guidance

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