Deals this week: Royal Philips, Corindus Vascular Robotics, Bluejay Diagnostics

2 March 2017 (Last Updated March 2nd, 2017 18:30)

Health technology company, Royal Philips, and digital health start-up, OneLife Health, have signed an agreement to jointly develop innovative mother and child healthcare solutions.

Health technology company, Royal Philips, and digital health start-up, OneLife Health, have signed an agreement to jointly develop innovative mother and child healthcare solutions.

The partnership will leverage the synergies of the two companies and will initially develop Onelife’s Femisphere app, which enables expectant mothers to track key signs of the baby, such as weight, blood pressure, sleep quality and mood.

The partnership enables Royal Philips, which has also acquired a minority share in Onelife Health, to expand its digital health services in mother and child care.

Corindus Vascular Robotics, a robotics systems developer for interventional vascular procedures, intends to raise gross proceeds of $45m through private offering of shares of its common stock.

The shares will be subscribed to by a syndicate of healthcare investors including Boston Scientific, BioStar Ventures, Consonance Capital and Hudson Executive Capital, along with existing investors including HealthCor Partners Management and Royal Philips.

Corindus will use the proceeds for global commercialisation of its CorPath GRX system, which has been cleared by the FDA, and for other general corporate purposes.

In a move to develop point-of-care test to detect allergic conjunctivitis, Bluejay Diagnostics has signed a collaborative clinical research agreement with Hitachi Chemical.

The partnership will develop a non-invasive, point-of-care test that measures total IgE (Immunoglobulin E) in human tears and aids in the diagnosis of allergic conjunctivitis.

Pursuant to the agreement, Hitachi will render its technology and expertise to conduct clinical trials and obtain regulatory approvals of the product in the US, Europe and South America.

Further, Bluejay will gain exclusive access to develop, market and manufacture Hitachi Chemical's Allerwatch Tear IgE in North America, South America and Europe.

The new partnership is in-line with Hitachi’s strategy to expand into non-invasive in-vitro diagnostics market.

In a venture financing round led by Perceptive Advisors, colonoscopy-related medical devices manufacturer, Motus GI Holdings, has raised $30m.

The financing, which included conversion of outstanding notes, has seen the participation of Orchestra Medical Ventures, Ascent Biomedical Ventures, Jacobs Investment Company, GJG Life Sciences, and Pura Vida Investments.

The gross proceeds from the transaction will be used by the company to support the commercial launch of its flagship product, Pure-Vu system, a device used to clean poorly-prepped colons during colonoscopies, in the US.

"The new partnership is in-line with Hitachi’s strategy to expand into non-invasive in-vitro diagnostics market."

Motus GI Holdings will also utilise the funds to create awareness about the product’s benefits amongst providers, patients and payers.

Implantable Provider Group (IPG) has announced a new partnership with Lima Corporate, a reconstructive and fixation orthopaedic solutions provider based in Italy.

Pursuant to the agreement, the latter will provide its key technology, such as Trabecular Titanium technology used in its hip and shoulder portfolio, and 3D printed devices, while gaining access to IPG’s expansive network of direct partnering facilities and surgeons.

IPG will render its contracting strategy, analytics and surgical expertise related to the delivery of device-intensive surgical procedures to develop and offer high-quality and cost-effective shoulder, hip and knee arthroplasty products to the US healthcare market.


Image: A woman holding a baby and her phone. Photo: courtesy of Koninklijke Philips N.V.