They began their partnership with Medtronic 4 years ago. I would imagine there is language in that partnership deal that would restrict them from partnering with the competition.
I've always had a hard time believing Dennis Fowler would be out of the mix. IREP is his and his colleague's "baby." If we just put oueselves in his shoes for a moment... he spent a large part of his career (blood, sweat and tears included) helping to develop a novel technology. Then becomes a high-level executive at the start-up aiming to market his technology. Then just walks away before it all comes to fruition? Never has made much sense to me.
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