In 2007, what did Series A venture investments reveal about the state of the health care industry? It was very healthy, thank you. There were quite a few deals to choose from, and numbers demonstrated continued growth in diagnostics fundraising, a resurgence in vaccines, and evidence of pharma's interest in proof-of-concept projects and large-molecule platforms. Medical device investors, meanwhile, remain enamored with concept companies seeking to blend electronics-such as neurostimulation or miniature sensors-with devices.

A roundup of recent medtech strategic alliances, mergers & acquisitions and financings.

Despite outstanding clinical science, Europe has historically lagged behind the US, if not in medical device innovation, at least in device company creation. A vicious cycle of few start-ups, reluctant VCs, and a poor pool of experienced managers has kept company creation from exploding. But now former merchant bankers turned serial entrepreneurs, Herb Oakes and Dick Lyman, believe they have a better formula for starting device companies in Europe.