Device companies large and small have failed repeatedly in efforts to address bifurcations, which remain one of the largest unmet opportunities in cardiology. Cappella thinks it can solve the problem with a device that's a new version of an old idea, reversing current protocol to treat the side branch first.

Minimally invasive surgery, performed through a number of ports to create access and enable visualization, manipulation, and dissection, promised to revolutionize surgical techniques two decades ago, but ultimately fell short of changing the way surgeons perform the majority of surgical cases. Now, the next generation in minimally invasive surgery sees single-port surgeries and natural orifice transluminal endoscopic surgeries (NOTES) gaining momentum. TransEnterix aims to operate in both cases, with a novel approach that not only allows surgeons greater dexterity in performing complex procedures, but also enables them to do surgical cases through a single access port, using the body's umbilicus

One of the most successful centers of medical device innovation, Israel is wrestling with that success and adopting new models to build on it. TriVentures, a new firm that is part incubator, part VC fund, is focusing on companies at the very earliest stages of development. At the other end of the spectrum, Ofer Hi-Tech is looking to roll up companies and create the next Kyphon.

A look at recent exits challenges the widely held view that device investments have lower return potential than biotech investments. However, a close inspection of the risk/return profile reveals that device investors are taking on more risk than ever.