> ## 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.

# 🩺 Medical Devices Up 27%. $150M for Clinical Documentation.
- URL: https://newsletters.qs.com/medical-devices-up-27-150m-for-clinical-documentation/
- Published: 2024-02-26T12:15:53.000Z
- Updated: 2024-02-27T05:15:20.000Z
- Description: Impact Capital Markets #36 looks at our Medical Devices stock index, major impact deals, M&A, and upcoming economic releases.
- Author: QS
- Tags: Deals

**Ahoj** 🍺  
  
📉 **Today's Global Economic Update:** Germany's Ifo Business Climate data indicated an [increase to 85.5 in February](https://www.ifo.de/en/facts/2024-02-23/ifo-business-climate-index-rises-february-2024?ref=newsletters.qs.com) 2024, from 85.2 in January. The reading for manufacturing hit a three-year low, while services and construction sectors improved. Business expectations remain pessimistic, but sentiment improved compared to January.

💉 **Deal of the Day:** Abridge, a startup building AI-powered clinical documentation tools, raised $150M in Series C funding to support the expansion of its operations.

**What's New?**

- **🩺 Medical Devices.** Medical devices up 27%
- **💰 Funding.** Clinical Documentation, electric mobility, fertility care & more
- 💼 **M&A.** Dairy products, clinical trials & farming
- 📅 **Economics.** Major inflation data, US GDP growth data, balance of trade + more

*For unlimited access to more deals and economic updates,* [*request a demo*](https://webforms.pipedrive.com/f/1uMbIPRqUeVuZ31jVtKWMWIuqU2ga1nKo8aotNdGihU16zgOzuTfRMb9XfIIGmcOT?ref=newsletters.qs.com)

## 🩺 Medical Devices Up 27% 

![](https://storage.ghost.io/c/f1/d4/f1d411df-6f49-4c75-a302-f8c9e9f59495/content/images/2024/02/HolonIQ_HolonIQ_Medical_Devices_HIQMEDEV_HCHWZM46HZ49SBMF7GR2--1--1.png)

HolonIQ’s Medical Devices Index rose by 27% over the past 12 months, driven by notable gains in major stocks. Abbott Laboratories (MCap: US$ 207B) climbed 20%, Intuitive Surgical, Inc. (MCap: US$ 137B) by 68%, and Stryker Corp. (MCap: US$ 135B) by 35%. This performance reflects the increase in demand for innovative devices, such as wearables, driven by the increasing prevalence of lifestyle diseases and awareness of preventive healthcare measures. Recent developments, such as the [Medicines and Healthcare Products Regulatory Agency (MHRA) roadmap](https://www.gov.uk/government/news/regulatory-roadmap-points-the-way-ahead-for-new-measures-to-support-safe-access-to-medical-technology-including-ai-and-diagnostics?ref=newsletters.qs.com) for medical device regulations in the UK and the[ MHRA-FDA collaboration](https://medriva.com/breaking-news/collaboration-between-mhra-and-fda-facilitating-innovative-medical-products-and-encouraging-diversity-in-clinical-trials/?ref=newsletters.qs.com) to streamline the UK's medical product development process, are expected to facilitate industry growth. China's increasing prominence as a top contender in the industry, coupled with India's efforts to enhance product capabilities, will also bring fresh opportunities.

However, a challenge lies in the mounting pressure to lower prices as governments strive to reduce healthcare expenses. With healthcare budgets being cut, companies within the medical devices sector face the risk of fewer orders and lower margins. Innovation and the effective integration of technology will likely become pivotal factors determining the success of medical companies in the years ahead.

## **💰** Funding  

💉 **Abridge,** a Pennsylvania-based startup building AI-powered tools to document clinical conversations, raised a [$150M Series C](https://www.usnews.com/news/technology/articles/2024-02-23/healthcare-startup-abridge-raises-150-million-for-ai-model-for-clinicians?ref=newsletters.qs.com) from Redpoint Ventures China and Lightspeed Venture Partners. The funding will be used to expand the team and develop AI models.

🛴 **Yulu,** an Indian startup providing shared two-wheeler electric vehicle services, raised [$19.25M](https://inc42.com/buzz/ev-startup-yulu-bags-19-25-mn-to-bolster-its-mobility-playbook-expand-fleet/?ref=newsletters.qs.com) from Magna International & Bajaj Auto Finance to strengthen its market leadership.

🚘 **Monumo,** a UK-based deep tech engineering company that is redesigning the electric motor, raised a [$13.28M](https://www.finsmes.com/2024/02/monumo-raises-10-5m-in-seed-funding.html?ref=newsletters.qs.com) Seed from LQD VC to expand operations and development efforts.

💧 **USA Water Holdings,** a Texas-based company that provides operations and maintenance services for water and wastewater systems, raised [$10M](https://www.morningstar.com/news/globe-newswire/9041944/cnl-strategic-capital-closes-on-investment-in-its-fourteenth-portfolio-company?ref=newsletters.qs.com) from CNL Strategic Capital to improve its services.

## 💼 M&A

## 

🥛 **Harwood Private Equity,** a leading investor in the UK lower mid-market, [acquired](https://www.foodbusinessnews.net/articles/25606-harwood-private-equity-acquires-crest-foods?ref=newsletters.qs.com) Crest Foods, an Oklahoma-based company that develops stabilizer formulations and recipes for dairy products.

🏥 **PCM Trials,** a Colorado-based independent mobile research provider for decentralized clinical trials, [acquired](https://www.prnewswire.com/news-releases/pcm-trials-acquires-emvenio-research-to-create-the-most-patient-centric-model-for-hybrid-and-decentralized-clinical-trials-302070059.html?ref=newsletters.qs.com) Emvenio Research, a North Carolina-based provider of community-based clinical trial sites served with mobile research units.

🍓 **Driscoll's,** a California-based global provider of fresh strawberries and other berries, [acquired](https://www.businesswire.com/news/home/20240225330999/en/Driscoll%E2%80%99s-Takes-Significant-Stake-in-Costa-Group?ref=newsletters.qs.com) Costa Group, Australia’s largest producer of fresh fruit and vegetables.

## **📅** Economic Calendar

Major Inflation Data, US GDP Growth Data, Balance of Trade + More

### Tuesday, February 27th 2024

🇯🇵 [Japan Inflation Data, January](https://www.stat.go.jp/?ref=newsletters.qs.com)   
🇩🇪 [Germany GfK Consumer Confidence, March](https://www.gfk.com/de/?ref=newsletters.qs.com)  
🇺🇸 [US Durable Goods Orders Data, January](https://www.census.gov/?ref=newsletters.qs.com)

### Wednesday, February 28th 2024

🇺🇸 [US GDP Growth Data, Q4](http://www.bea.gov/?ref=newsletters.qs.com)

### Thursday, February 29th 2024

🇫🇷 [France Inflation Data (Preliminary), Februar](https://www.insee.fr/?ref=newsletters.qs.com)y  
🇮🇳 [India GDP Data, Q4](https://www.mospi.gov.in/?ref=newsletters.qs.com)  
🇩🇪 [Germany Inflation Data (Preliminary), February](https://www.destatis.de/?ref=newsletters.qs.com)  
🇨🇦 [Canada GDP Data, Q4](https://www.statcan.gc.ca/?ref=newsletters.qs.com)  
🇺🇸 [US Core PCE Price Index Data, January](https://www.bea.gov/?ref=newsletters.qs.com)  
🇺🇸 [US Personal Income & Spending Data, January](https://www.bea.gov/?ref=newsletters.qs.com)

### Friday, March 01st 2024

🇨🇳 [China NBS & Caixin Manufacturing PMI (Preliminary), February](http://www.stats.gov.cn/?ref=newsletters.qs.com)  
🇯🇵 [Japan Consumer Confidence, February](https://www.cao.go.jp/?ref=newsletters.qs.com)   
🇪🇦 [Euro Area Inflation Data (Flash), February](https://ec.europa.eu/eurostat/?ref=newsletters.qs.com)   
🇮🇹 [Italy GDP Data, 2024](https://www.istat.it/?ref=newsletters.qs.com)  
🇮🇹 [Italy Inflation Data (Preliminary), February](https://www.istat.it/?ref=newsletters.qs.com)   
🇮🇹 [Italy Government Budget, 2023](https://www.istat.it/?ref=newsletters.qs.com)  
🇺🇸 [US ISM Manufacturing PMI ](https://www.ismworld.org/?ref=newsletters.qs.com)[(Preliminary)](https://www.destatis.de/?ref=newsletters.qs.com)[, February ](https://www.ismworld.org/?ref=newsletters.qs.com)

### Tuesday, March 5th 2024

🇺🇸 [US ISM Services PMI, February](https://www.ismworld.org/?ref=newsletters.qs.com)

### Wednesday, March 6th 2024

🇦🇺 [Australia GDP Growth Data, Q4](https://www.abs.gov.au/?ref=newsletters.qs.com)  
🇩🇪 [Germany Balance of Trade, January](https://www.destatis.de/?ref=newsletters.qs.com)  
🇨🇦 [Canada BoC Interest Rate Decision](http://www.bankofcanada.ca/?ref=newsletters.qs.com)  
🇨🇦 [Canada Ivey PMI, February](https://www.ivey.uwo.ca/?ref=newsletters.qs.com)  
🇺🇸 [US JOLTs Job Openings, January](https://www.bls.gov/?ref=newsletters.qs.com)

### Thursday, March 7th 2024

🇦🇺 [Australia Balance of Trade, January](https://www.abs.gov.au/?ref=newsletters.qs.com)  
🇨🇳 [China Balance of Trade, Jan-Feb](http://www.customs.gov.cn/?ref=newsletters.qs.com)  
🇪🇦 [Euro Area Deposit Facility Data](https://www.ecb.europa.eu/?ref=newsletters.qs.com)  
🇪🇦 [Euro Area ECB Interest Rate Decision](https://www.ecb.europa.eu/?ref=newsletters.qs.com)  
🇨🇦 [Canada Balance of Trade, January](https://www.statcan.gc.ca/?ref=newsletters.qs.com)  
🇪🇦 [Euro Area ECB Press Conference](https://www.ecb.europa.eu/home/html/index.en.html?ref=newsletters.qs.com)

### Friday, March 8th 2024

🇨🇦 [Canada Unemployment Data, February](https://www.statcan.gc.ca/?ref=newsletters.qs.com)  
🇺🇸 [US Non-Farm Payrolls, February](https://www.bls.gov/?ref=newsletters.qs.com)  
US [Unemployment Data, February](https://www.bls.gov/?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. Have a great week ahead!**  
Have some feedback or want to sponsor this newsletter? Let us know at hello@holoniq.com