> ## 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. # πŸ’‰ Medical Devices Climbs 18%. $40M+ Funding. - URL: https://newsletters.qs.com/medical-devices-climbs-18-40m-funding/ - Published: 2024-02-05T12:02:15.000Z - Updated: 2024-02-06T05:44:35.000Z - Description: Impact Capital Markets #21 looks at our Medical Devices Index, major impact deals and acquisitions, and the upcoming big economic releases. - Author: QS - Tags: Deals January 2024 nonfarm payroll data in the US exceeded expectations with [353k new jobs](https://www.bls.gov/news.release/empsit.nr0.htm?ref=newsletters.qs.com), surpassing the anticipated 185k. This report signals a strong initiation for the 2024 job market, potentially influencing Federal Reserve considerations on interest rates. **Today's Topics** - πŸ’‰ **Medical Devices.** Medical Devices Index Up 18% - **πŸ’° Funding.** EV, Medical Devices, Deep Tech and Pharmaceutical - πŸ’Ό **Acquisitions.** HVAC and HealthCare - πŸ“… **Economics.** Major Interest Rate Decisions, Balance of Trade, GDP & Inflation Releases + More *For unlimited access to more deals and economic updates,* [*request a demo*](https://webforms.pipedrive.com/f/1uMbIPRqUeVuZ31jVtKWMWIuqU2ga1nKo8aotNdGihU16zgOzuTfRMb9XfIIGmcOT?ref=newsletters.qs.com) ## **πŸ’‰ Medical Devices Index Up 18% YoY** ![](https://storage.ghost.io/c/f1/d4/f1d411df-6f49-4c75-a302-f8c9e9f59495/content/images/2024/02/HolonIQ_HolonIQ_Medical_Devices_HIQMEDEV_HCHWZM46HZ49SBMF7GR2.png) **HolonIQ Medical Devices (HIQMEDEV).** 12-month indexed returns (returns on the index relative to the level on February 06, 2023) initially dropped almost 8% between mid-February and March but saw a sharp recovery during the rest of the year. The index has made a recovery, with Year-on-Year returns now at 18%. Medical device manufacturers are strategically adapting to economic challenges, harnessing the potential of artificial intelligence for significant industry expansion. The FDA's approval of a record 124 new devices in 2023 underscores the persistent dynamism and evolution within the medical device sector. Notable acquisitions, including Abbott Laboratories' (MarketCap: US$ 195B) $890 million purchase of Cardiovascular Systems and Boston Scientific's (MarketCap: US$94B) $3.7 billion acquisition of Axonics, offer access to vital pipeline products and open avenues in the sacral neuromodulation market, intensifying competition with entities like Medtronic. The current momentum is likely to continue, supported by forthcoming regulatory initiatives and amendments by bodies like the FDA and MHRA, streamlining approval processes for medical devices. China's emergence as the second-largest global market, as reported by the National Medical Products Administration (NMPA), positions it as a significant player in the manufacturing market, suggesting potential tailwinds for medical devices in the foreseeable future. ## **πŸ’° Funding** πŸš— **Aptera Motors,** a California-based solar EV developer, raised [$33M](https://aptera.us/33-million-community-led/?ref=newsletters.qs.com) in a crowdfunding round to support the initial production phases of its three-wheeled solar electric vehicle. πŸ’‰ **Ceroflo,** an Irish medical device company, raised [$6.9M](https://www.businesspost.ie/news/galway-medtech-firm-raises-e6-4m-for-stroke-prevention-device/?ref=newsletters.qs.com) to develop and launch an innovative stroke-preventing stent. πŸ”¬ **Algorithmic Biologics,** an India-based deep tech company, raised a [$2.5M Seed](https://entrackr.com/2024/02/algobio-raises-2-5-mn-in-pre-series-a-round/?ref=newsletters.qs.com) from the Bharat Innovation Fund (BIF). The funds will be used to support the product pipeline, build its sales team, and expand its presence across geographies. πŸ’Š **Pillsbee,** an Indian AI-driven B2B pharmaceutical platform, raised [$1.85M](https://www.thehindubusinessline.com/info-tech/pillsbee-secures-153-crore-investment-from-kerala-angel-network/article67804205.ece?ref=newsletters.qs.com) in an angel round from Kerala Angel Network to expand its footprint across the entire South India. ## πŸ’Ό **Acquisitions** ❄️ **Comfort Systems USA,** a Texas-based national heating, ventilation, and cooling (HVAC) company, [acquired](https://www.businesswire.com/news/home/20240202103396/en/Comfort-Systems-USA-Announces-Acquisition?ref=newsletters.qs.com) J & S Mechanical Contractors, a Utah-based company that provides mechanical construction services. πŸ₯ **Bupa Health Clinics,** a British healthcare group [acquired](https://www.bupa.com/news/press-releases/2024/bupa-acquires-blackberry-clinics?ref=newsletters.qs.com#:~:text=Bupa%20Health%20Clinics%20is%20pleased,Clinics%20portfolio%20from%20February%202024.) Blackberry Clinics, a UK-based clinic that specializes in the treatment of musculoskeletal conditions and sports injuries. ## **πŸ“… Economic Calendar** Major Balance of Trade, Interest Rate Decision, Employment Data + More ### **Monday February 5th 2024** πŸ‡ΊπŸ‡Έ US - SM Services PMI, January ### **Tuesday February 6th 2024** πŸ‡¦πŸ‡Ί Australia - RBA Interest Rate Decision πŸ‡¨πŸ‡¦ Canada - Ivey PMI s.a , January ### **Wednesday February 7th 2024** πŸ‡¨πŸ‡¦ Canada - Balance of Trade , December ### **Thursday February 8th 2024** πŸ‡¨πŸ‡³ China - Inflation Data, January ### **Friday February 9th 2024** πŸ‡¨πŸ‡¦ Canada - Unemployment Data, January ### **Tuesday , February 13th 2024** πŸ‡¦πŸ‡Ί Australia Westpac Consumer Confidence Change, February πŸ‡¬πŸ‡§ UK Unemployment Rate, December πŸ‡©πŸ‡ͺ Germany ZEW Economic Sentiment Index, February πŸ‡ΊπŸ‡Έ US Core Inflation Data , January πŸ‡ΊπŸ‡Έ US Inflation Data , January ### **Wednesday February 14th 2024** πŸ‡¦πŸ‡Ί Australia NAB Business Confidence, January πŸ‡¬πŸ‡§ UK Inflation Rate, January ### **Thursday February 15th 2024** πŸ‡―πŸ‡΅ Japan GDP Data , Q4 πŸ‡¬πŸ‡§ UK GDP Data , Q4 πŸ‡¬πŸ‡§ UK GDP Data, December πŸ‡ΊπŸ‡Έ US Retail Sales Data , January ### **Friday February 16th 2024** πŸ‡¬πŸ‡§ UK Retail Sales Data, January πŸ‡ΊπŸ‡Έ US Building Permits Prel, January πŸ‡ΊπŸ‡Έ US PPI MoM, January πŸ‡ΊπŸ‡Έ US Michigan Consumer Sentiment Prel, February --- **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. Have a great week ahead!** Have some feedback or want to sponsor this newsletter? Let us know at hello@holoniq.com