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Business & Technology Briefs (10/2007)

New spine company Globus raises $110 million from Clarus Ventures; Medco Health Solutions acquires PolyMedica Corp. for $1.5 billion; Olympus' long-awaited capsule endoscope receives US regulatory clearance; Concentric Medical launches another iteration of its Merci Retriever for ischemic stroke.

Investors in orthopedics traditionally have backed companies with technologies compelling enough to draw the interest of giants on the industry’s mountaintop—Medtronic Inc. ’s Medtronic Sofamor Danek , Johnson & Johnson ’s Depuy Spine Inc. , Synthes-Stratec ’s Synthes USA , Stryker Corp., and Zimmer Spine (a division of Zimmer Holdings Inc.’s Centerpulse AG)--controllers of 70% of the $4.3 billion US spine market. (See "The Hot Trend in Spine: Motion Preservation Mania," Medtech Insight, June 2007 Also see "The Hot Trend in Spine: Motion Preservation Mania" - Medtech Insight, 1 June, 2007..)

Last month, Clarus Ventures and a syndicate of private equity investors opted instead to invest heavily—unusually heavily for the orthopedics space—on a company it feels is capable of finding a...

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