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The relatively open nature of the wound care market has created a golden opportunity for manufacturers to step up and introduce a variety of new products, although rarely is new a signal of true innovation in this space. And that, in turn, has created a broad, diverse, and fragmented industry, as demonstrated by the packed exhibit hall at the April 2010 meeting of the Symposium on Advanced Wound Care and the Wound Healing Society.
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A roundup of recent medtech strategic alliances, mergers & acquisitions and financings.
For some time now, investors have hated wound care. They've been scarred by past failures, most famously, the simultaneous bankruptcies in 2002 of Advanced Tissue Sciences and Organogenesis, two tissue-engineering companies targeting chronic wounds. "Show me one success," VCs tell start-ups seeking funding. Well, now there is one. Kinetic Concepts is pulling in a billion dollars in revenues from a single product in the advanced wound care market. Is it time for VCs to love advanced wound care? Five new device start-ups hope so. Three are developing therapeutic devices for chronic wounds and two are beginning in acute wound care, an emerging surgical market. (This article also appeared as "Wound Care: Medtech's New Billion Dollar Product Market," Medtech Insight November/December 2007)
- Medical Devices
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