Combining biological insights with data science, the start-up emerges from stealth mode after two years of assembling its technology platform and R&D pipeline based on internal and external know-how.

Biopharma experts discuss at a summit core issues around ensuring that fast-paced digital acceleration does not jeopardize the overall experience of healthcare professionals. Clarity about customer needs/behaviors, embracing a fail-fast, learn-fast mindset and measuring customer experience were among the aspects touched upon.

The company will focus on developing its VenoValve system to treat chronic venous insufficiency and a second product for venous disease.

ICU Medical will pay about $500m in stock, $1.85bn in cash, and assume certain liabilities to acquire the medical division of Smiths Group. Smiths is also eligible for $100m in milestone payments from ICU Medical. The deal is better than the $2.3bn offer Smiths got from a subsidiary of private equity firm TA Associates earlier in August.