Baxter (NYSE:BAX) shares took a hit today as mixed fourth-quarter results included plans for restructuring and workforce reductions. Shares of BAX dipped 11.4% at $40.48 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 12.2%. The company’s quarterly results included an update […]
Dialysis
Baxter, Miromatrix partner on liver failure research
Baxter (NYSE:BAX) and Miromatrix Medical (Nasdaq:MIRO) today announced a collaborative research agreement on acute liver failure (ALF) treatments. As part of the collaboration, Eden Prairie, Minnesota-based Miromatrix created a new liver therapy. The therapy, called MiroLiverELAP, combines a Miromatrix single-use bioengineered liver with Baxter’s PrisMax system. Miromatrix designed the MiroLiverELAP to provide external support to […]
Fresenius Medical Care joins health equity pledge
Fresenius Medical Care announced today that it joined the Zero Health Gaps Pledge at the World Economic Forum in Davos, Switzerland. As part of the Global Health Equity Network (GHEN), the pledge brings together stakeholders from the public and private sectors. In line with the UN Sustainable Development Goals, they aim to advance a collective […]
CardioRenal Systems wins FDA breakthrough nod for RenalGuard Therapy device
CardioRenal Systems announced today that it received FDA breakthrough device designation for its RenalGuard Therapy device. Milford, Massachusetts-based CardioRenal Systems designed the device for preventing acute kidney injury (AKI). It’s for patients at risk for cardiac surgery-associated AKI. RenalGuard protects the kidneys with personalized, active hydration. The system maximizes urine output while balancing hydration. It […]
Baxter to spin off renal care, acute therapies units
Baxter (NYSE:BAX) announced today that it laid out a strategic roadmap for the future that includes the spinoff of two business units. The company plans to spin its renal care and acute therapies units into an independent, publicly traded company. It expects the company to stand alone in the next 12 to 18 months. Baxter’s […]
Fresenius Medical Care’s CEO leaves after two months in top spot
Fresenius said Fresenius Medical Care (NYSE:FMS) CEO Carla Kriwet will leave the company “at her own request and by mutual agreement due to strategic differences.” The Bad Homburg, Germany-based dialysis provider instead named Deputy CEO and CFO Helen Giza as the division’s next CEO. When announcing Kriwet’s promotion and Giza’s new role of deputy CEO […]
Outset Medical skyrockets on Q3 revenue beat, raises full-year guidance
Outset Medical (Nasdaq:OM) this week posted third-quarter results that were in line with earnings estimates and beat the revenue consensus on Wall Street. The San Jose, California-based home hemodialysis device maker reported net losses of $40.8 million, or –85¢ per share, on sales of $27.8 million for the three months ended Sept. 30, for a […]
Outset Medical secures debt financing of up to $300M
Outset Medical (Nasdaq: OM) today announced two senior secured credit facilities with investment affiliates managed by SLR Capital Partners. Collectively, the facilities provide for up to $300 million in borrowing for the maker of the Tablo Hemodialysis System. The facilities include an up-to-$250-million term loan facility and an up-to-$50-million asset-based revolving credit facility. Outset drew $100 […]
FDA clears heat purification, remote therapy from Fresenius
Fresenius Medical Care North America (FMCNA) recently announced FDA clearances for two of its technologies used in dialysis care. Today, the Waltham, Massachusetts-based company announced FDA clearance for the AquaA water system. The company designed it as a water purification system for hemodialysis. Yesterday, the FDA granted 510(k) clearance to upgrade Fresenius’ Liberty Select cycler. […]
Outset Medical unveils TabloCart for Tablo hemodialysis system
Outset Medical (Nasdaq:OM) this week launched the newest accessory for its Tablo Hemodialysis System, the TabloCart. The San Jose, California-based company designed TabloCart to help medical professionals easily move anywhere around the hospital. It provides added maneuverability and optional prefiltration or storage. [Hear more from Outset Medical CEO Leslie Trigg at DeviceTalks West on October 20] […]
Baxter is reportedly considering a sale of its kidney care businesses
Baxter (NYSE:BAX) is reportedly weighing the divestiture of its renal care services and hemodialysis business. According to a Bloomberg report, the company is considering splitting with its kidney care businesses as part of a refocusing effort after its $12.5 billion acquisition of Hillrom last year. The outlet cited anonymous sources familiar with the matter. The […]