Ford Motor Company this week said it will start producing 50,000 ventilators in 100 days at its Michigan plant, and 30,000 a month thereafter as needed. GE Healthcare is slated to provide clinical expertise to Ford and will license the ventilator design from Airon. GE Healthcare recommended the Airon design to Ford as the company […]
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Branson’s Virgin Orbit to make ventilators
Richard Branson’s Virgin Orbit announced that it has developed a mass-producible bridge ventilator to help ease the shortage of machines during the COVID-19 pandemic. Virgin Orbit said in a news release that it is consulting with the Bridge Ventilator Consortium (BVC), a group formed to aid in building ventilators for the needs of healthcare facilities […]
BREAKING: Second Sight Medical laying off most of its workers, winding down
Second Sight Medical (NSDQ:EYES) announced today that it will wind down its operations amid the financial shock of the coronavirus pandemic. The Los Angeles–based company will lay off 84 of its 108 employees and will retain an adviser experienced in winding down operations to guide the board on the next steps. Company officials expect additional layoffs. […]
CHF Solutions prices $2.2m offering
CHF Solutions (NSDQ:CHFS) announced today that it priced a registered direct offering of common stock worth approximately $2.2 million. The Eden Prairie, Minn.-based ultrafiltration therapy developer is offering more than 5.1 million shares of its common stock at a public price of approximately 43¢ per share. CHF Solutions expects gross proceeds of $2,226,000 prior to the […]
Tesla to reopen New York facility to manufacture Medtronic ventilators
Tesla announced that it would reopen its New York production facility to manufacture medical devices instead of solar panels to assist Medtronic (NYSE:MDT) in producing ventilators, according to the Minneapolis/St. Paul Business Journal. Medtronic CEO Omar Ishrak said in a CNBC interview that the Fridley, Minn.-based company would ramp up ventilator production and is currently making […]
Smith & Nephew expects Q1 revenue to be down 8% amid coronavirus
Smith & Nephew (NYSE:SNN) announced today that it is withdrawing its 2020 full-year financial guidance and projecting a sizeable decline in first-quarter revenue growth as a result of the COVID-19 pandemic. The London-based medtech giant’s guidance, issued on Feb. 20, assumed a normalization of the coronavirus outbreak early in the second quarter. However, given the rapid […]
BREAKING: Medtronic shares ventilator IP to combat shortages amid coronavirus
Medtronic (NYSE:MDT) is publicly sharing the design specifications of its Puritan Bennett 560 (PB 560) ventilator amid a global shortage of the devices amid the coronavirus pandemic. The shortage is dire enough that doctors are having to make life-or-death decisions about which people with severe cases of COVID-19 get a ventilator. Fridley, Minn.–based Medtronic is running […]
Abbott launches five minute rapid COVID-19 test
Abbott (NYSE:ABT) announced that it received FDA emergency use authorization (EUA) for what it touts as the fastest available molecular point-of-care test for detecting COVID-19. The test, which Abbott says can deliver positive results in as little as five minutes and negative results in 13 minutes, is slated to run on the company’s ID Now platform […]
Medtronic responds to NY Times story about failed ventilator contract
Medtronic (NYSE:MDT) is providing additional facts in response to a New York Times report detailing an acquisition by Covidien that allegedly changed the course of a government contract designed to increase ventilator supply, now a major problem amid the coronavirus pandemic. Medtronic bought Covidien for $50 billion in 2015 — years after the events described in the […]
Medline reopens Illinois medtech sterilization plant
Medline Industries resumed sterilization operations at its Waukegan, Ill., plant on Friday, following state certification of the company’s $10 million in emission-control upgrades, the company announced. The Waukegan plant reopening follows the decision this week by officials in Cobb County, Ga., to allow an Atlanta Sterigenics EtO plant to reopen for 21 days to sterilize devices and products […]
Cohealo to enhance ventilator sharing network
Cohealo announced today that it intends to add customers to its national ventilator sharing network to help health systems monitor capacity and mobilize ventilators to hospitals that need them most. The Boston-based company’s effort is in response to a shortage of ventilators as a result of the COVID-19 pandemic. Several companies have taken it upon […]