Brief summaries of recent medtech market and industry developments. This month we cover China’s switch to a centralized billing system, St. Jude Medical’s RESPECT PFO closure trial, FDA’s approval of HeartWare’s LVAD, and end-of-the-year medtech M&A.

During the second quarter of 2011, 57 medical device companies brought in a total of $1.7 billion in financings. The M&A activity reached $28.8 billion, unusually high due to Johnson & Johnson's $21.7 billion takeover of orthopedic device maker Synthes. VC funding represented $76 million or 43% of the second quarter's in vitro diagnostics/research financing aggregate of $177 million. A hefty $4.1 billion was spent on 11 in vitro diagnostic/research M&A transactions, the largest being Thermo Fisher's $3.5 billion buy of Swedish genetics testing firm Phadia AB.

Start-Up's monthly comprehensive review of emerging life science companies that have received venture funding during the month, including companies in the pharmaceutical, medical device, diagnostic and research instrumentation and reagent sectors.

This Month's Profile Groups: Upheaval and Opportunity Reshape The Oncology Market features profiles of Cyterix Pharmaceuticals, Polaris, Tocagen, Tragara Pharmaceuticals and VentiRx Pharmaceuticals. Patient-Centric Devices Promise Cost-Efficient Wound Care features profiles of Reapplix, Spiracur and Wound Solutions. Plus these Start-Ups Across Health Care: Cebix, Jan Medical, Life Recovery Systems, Respira and SeptRx.