> ## Content Index > Fetch the complete content index at: https://newsletters.qs.com/llms.txt > Use this file to discover other available public pages before exploring further. # ๐Ÿฉบ $1B Biotech Funding. Medical Devices Declines 1%. - URL: https://newsletters.qs.com/1b-biotech-funding-medical-devices-declines-1/ - Published: 2024-04-24T11:02:34.000Z - Updated: 2024-04-24T11:02:33.000Z - Description: Impact Capital Markets #78 looks at our Medical Devices stock index, major impact deals, M&A, and upcoming economic releases. - Author: QS - Tags: Deals [**Sawubona**](https://en.wiktionary.org/wiki/sawubona?ref=newsletters.qs.com) ๐Ÿฆ ๐Ÿ“‰ **Today's Global Economic Update:** Australia's inflation rate in Q1 of 2024 [was 3.6% yoy, slightly lower than the previous period](https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release?ref=newsletters.qs.com) but exceeded market expectations. Goods inflation eased for the sixth consecutive quarter, while services inflation slowed for the third straight quarter. **๐Ÿ’Š Deal of the Day:** Xaira Therapeutics, a biotechnology company launched with [$1B](https://www.biopharmatrend.com/post/791-xaira-therapeutics-launches-with-over-1-billion-to-enhance-drug-rd-using-ai/?ref=newsletters.qs.com) to enhance drug R&D efforts using AI. **What's New?** ๐Ÿฉบ **Medical Devices.** Medical devices declines 1% **๐Ÿ’ฐ Funding.** Biotechnology, community college, pediatric care + more ๐Ÿ’ผ **M&A.** Recycling, biotechnology, EdTech + more ๐Ÿ“… **Economics.** US & Euro area GDP, Japan inflation, balance of trade + more ## ๐Ÿฉบ Medical Devices Declines 1% [![](https://storage.ghost.io/c/f1/d4/f1d411df-6f49-4c75-a302-f8c9e9f59495/content/images/2024/04/HolonIQ_HolonIQ_Medical_Devices_HIQMEDEV_HCHWZM46HZ49SBMF7GR2.png)](https://index.holoniq.com/charts/HCHWZM46HZ49SBMF7GR2/HolonIQ-Medical-Devices-%28HIQMEDEV%29?ref=newsletters.qs.com) HolonIQโ€™s Medical Devices index has declined to 1% reflecting challenges in the MedTech sector. For instance, Boston Scientific's ($101B MCap) earnings were likely impacted by industry-wide issues including supply chain disruptions and global uncertainties. Despite recent challenges, the medical device industry has shown strong performance, as evidenced by the index reaching a high of 6.4% in March. Companies like Intuitive Surgical, Inc. ($133B MCap), Stryker Corp.($125B MCap), and Abbott Laboratories ($187B MCap) experienced growth of 21%, 21%, and 3%, respectively, over the past 3 months. Factors including increasing demand for surgical devices and advancements in healthcare technology drove the increases. Positive earning results also pushed up the prices of stocks within the index. Abbott Laboratories beat quarterly profit forecast with strong sales of its medical devices. Intuitive Surgical Inc. exceeded Q1 profit & revenue forecasts, driven by higher demand for its da Vinci surgical robots. Overall, with trends like surgical robotics, wearables, and AI adoption, the outlook for medical devices is promising. However, recent product recalls, such as the recent Medtronic recall, would impact the index performance in the coming weeks. ## **๐Ÿ’ฐ Funding** **๐Ÿ’Š Xaira Therapeutics**, a biotechnology company launched with [$1B](https://www.biopharmatrend.com/post/791-xaira-therapeutics-launches-with-over-1-billion-to-enhance-drug-rd-using-ai/?ref=newsletters.qs.com) in funding to enhance drug R&D efforts using AI. **๐ŸŽ“ Campus**, a New York-based online community college, raised a [$23M Series A](https://techcrunch.com/2024/04/23/campus-a-community-college-startup-receives-23m-series-a-extension-led-by-founders-fund/?ref=newsletters.qs.com) from Founders Fund to accelerate its growth. **๐Ÿงฌ CN Bio**, a UK-based micro-physiological systems provider, raised a [$21M Series B](https://www.biospace.com/article/releases/cn-bio-raises-21-million-usd-in-first-close-of-series-b-investment-round/?ref=newsletters.qs.com) from Bayland Capital to expand its product portfolio. **๐Ÿ’Š Brise Pharmaceuticals**, a Chinese pain therapeutics company, raised a [$20M Series A](https://www.finsmes.com/2024/04/brise-pharmaceuticals-raises-nearly-20m-in-series-pre-a-and-pre-a-financing.html?ref=newsletters.qs.com) from Shunxi Fund to drive product development. **๐Ÿ‘ถ Summer Health**, a New York-based pediatric telehealth provider, raised a [$11.7M Series A](https://www.finsmes.com/2024/04/summer-health-raises-11-65m-in-series-a-funding.html?ref=newsletters.qs.com) from 7wire Ventures to strengthen its distribution channels. ## **๐Ÿ’ผ M&A** **๐Ÿ”„ Sibelco**, a Belgian material solutions company, [acquired ](https://www.sibelco.com/en/news/sibelco-to-enter-north-american-glass-recycling-industry-with-acquisition-of-strategic-materials?ref=newsletters.qs.com)Strategic Materials, a Texas-based recycling company. **๐Ÿงช Incyte**, a Delaware-based drug discovery company, [acquired ](https://investor.incyte.com/news-releases/news-release-details/incyte-announces-acquisition-escient-pharmaceuticals-and-its?ref=newsletters.qs.com)Escient Pharmaceuticals, a California-based biotechnology company. **๐Ÿ“š 95 Percent Group LLC**, an Illinois-based education management company, [acquired](https://www.prnewswire.com/news-releases/95-percent-group-a-portfolio-company-of-leeds-equity-partners-announces-acquisition-of-sortegories-to-continue-digital-growth-302124646.html?ref=newsletters.qs.com) Sortegories, an EdTech platform. **๐Ÿฉบ Kohlberg Kravis Roberts**, a New York-based investment firm, [acquired ](https://media.kkr.com/news-details/?news%5Fid=0eccf3aa-b128-4d90-abca-f48ab54a6acc&ref=newsletters.qs.com) Immedica Pharma, a Swedish pharmaceutical company. **๐Ÿ”ฌ Adir Ventures**, a New York-based financing firm, [acquired ](https://www.prnewswire.com/news-releases/a-revolution-in-medicare-marketing-adir-ventures-acquires-healthy-labs-302122121.html?ref=newsletters.qs.com)Healthy Labs, a California-based digital health insurance company. ## **๐Ÿ“…** Economic Calendar US & Euro Area GDP, Japan Interest Rate, Balance of Trade + More ### Wednesday, April 24th 2024 ๐Ÿ‡ฉ๐Ÿ‡ช [Germany Ifo Business Climate Index, April](https://www.ifo.de/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Durable Goods Orders Data, March](https://www.census.gov/?ref=newsletters.qs.com) ### Thursday, April 25th 2024 ๐Ÿ‡ฉ๐Ÿ‡ช [Germany GfK Consumer Confidence Index, May](https://www.gfk.com/de/home?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US GDP Data, Q1](https://www.bea.gov/?ref=newsletters.qs.com) ๐Ÿ‡ฏ๐Ÿ‡ต [Japan BoJ Interest Rate Decision](https://www.boj.or.jp/?ref=newsletters.qs.com) ### Friday, April 26th 2024 ๐Ÿ‡บ๐Ÿ‡ธ [US Core PCE Price Index, March](https://www.bea.gov/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Personal Income & Spending, March](https://www.bea.gov/?ref=newsletters.qs.com) ### Monday, April 29th 2024 ๐Ÿ‡ฉ๐Ÿ‡ช G[ermany Inflation Data (Preliminary), April](https://www.destatis.de/DE/Home/%5Finhalt.html?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ณ [China NBS Manufacturing PMI, April](https://www.stats.gov.cn/?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ณ [China Caixin Manufacturing PMI, April](https://www.pmi.spglobal.com/public?ref=newsletters.qs.com) ### Tuesday, April 30th 2024 ๐Ÿ‡ซ๐Ÿ‡ท [France GDP Data (Preliminary), Q1](https://www.insee.fr/fr/accueil?ref=newsletters.qs.com) ๐Ÿ‡ซ๐Ÿ‡ท [France Inflation Data (Preliminary), April](https://www.insee.fr/fr/accueil?ref=newsletters.qs.com) ๐Ÿ‡ฉ๐Ÿ‡ช [Germany GDP Data Flash, Q1](https://www.destatis.de/DE/Home/%5Finhalt.html?ref=newsletters.qs.com) ๐Ÿ‡ฎ๐Ÿ‡น [Italy GDP Data, Q1](https://www.istat.it/?ref=newsletters.qs.com) ๐Ÿ‡ช๐Ÿ‡ฆ [Euro Area GDP Data Flash, Q1](https://ec.europa.eu/eurostat/?ref=newsletters.qs.com) ๐Ÿ‡ช๐Ÿ‡ฆ [Euro Area Inflation Data Flash, April](https://ec.europa.eu/eurostat/?ref=newsletters.qs.com) ๐Ÿ‡ฎ๐Ÿ‡น [Italy Inflation Data (Preliminary), April](https://www.istat.it/?ref=newsletters.qs.com) ### Wednesday, May 1st 2024 ๐Ÿ‡ฏ๐Ÿ‡ต [Japan Consumer Confidence Index, April](https://www.cao.go.jp/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US ISM Manufacturing PMI, April](https://www.ismworld.org/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Job Openings, March](https://www.bls.gov/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Fed Interest Decision](https://www.federalreserve.gov/) ๐Ÿ‡ฆ๐Ÿ‡บ [Australia Balance of Trade Data, March](https://www.abs.gov.au/?ref=newsletters.qs.com) ### Thursday, May 2nd 2024 ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Balance of Trade Data, March](https://www.statcan.gc.ca/?ref=newsletters.qs.com) ### Thursday, May 3rd 2024 ๐Ÿ‡บ๐Ÿ‡ธ [US Non-Farm Payrolls Data, April](https://www.bls.gov/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Employment Data, April](https://www.bls.gov/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US ISM Services PMI, April](https://www.ismworld.org/?ref=newsletters.qs.com) [](https://www.bea.gov/?ref=newsletters.qs.com) [](https://www.ifo.de/?ref=newsletters.qs.com) [](http://www.sca.isr.umich.edu/?ref=newsletters.qs.com) [](https://www.ifo.de/?ref=newsletters.qs.com) [](https://www.bea.gov/?ref=newsletters.qs.com) [](https://www.ifo.de/?ref=newsletters.qs.com) [](http://www.sca.isr.umich.edu/?ref=newsletters.qs.com) [](https://www.ifo.de/?ref=newsletters.qs.com) --- **Like getting this newsletter?* For unlimited access to more deals and economic updates,* [*request a demo*](https://webforms.pipedrive.com/f/1uMbIPRqUeVuZ31jVtKWMWIuqU2ga1nKo8aotNdGihU16zgOzuTfRMb9XfIIGmcOT?ref=newsletters.qs.com)*.* --- **Thank you for reading. 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