The past year saw significant changes in the medtech space. Our editorial team picked their top stories. The lingering COVID-19 pandemic was top of mind in 2021, but there was much more going on in the medical device industry. The Life Sciences editorial team here at WTWH Media discussed their top picks during the December […]
Distribution
Medline is spending $1.5B on new distribution centers
Medline announced that it opened five newly constructed distribution centers this year and plans to complete two more in 2022. Northfield, Illinois-based Medline said yesterday that it opened the latest LEED-certified distribution center — set to be fully operational in the first quarter of 2022 — in Richmond Hill, Georgia. The new Georgia facility is […]
Cardinal Health docks executive bonuses over opioid costs
Cardinal Health’s board of directors reduced bonus payouts for CEO Mike Kaufmann and his four top-paid executives due to the cost of opioid litigation. After pressure from investors, Cardinal Health (NYSE:CAH) for the first time has disclosed how its board of directors factored the opioid litigation settlement costs into the pay packages of Kaufmann, Chief […]
Amazon makes moves for a major medical diagnostics play
Amazon (NASDAQ: AMZN) wants to hire key employees to expand its medical diagnostics operations on a global scale, which very well could grow beyond COVID-19 testing. Senior-level job postings offer a glimpse of the notoriously secretive and ambitious tech company’s global aspirations for medical diagnostics. Just this week, Amazon put a call out for a […]
Cardinal Health partners with Abbott, Quidel to expand rapid OTC COVID-19 tests
Cardinal Health today announced that it has partnered with Abbott and Quidel to broaden access to over-the-counter rapid COVID-19 tests. Cardinal Health will use its distribution network to support access to Quidel’s QuickVue At-Home OTC COVID-19 test and Abbott’s BinaxNow COVID-19 antigen self-test. Both tests allow users to easily perform tests for the virus without […]
Cardinal Health stock down after Q4 earnings disappoint The Street
Cardinal Health (NYSE: CAH) reported fourth-quarter adjusted earnings today that were only two-thirds of what The Street expected. The Dublin, Ohio–based health care services company’s stock was down more than –13% to $51.04 apiece in morning trading. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down slightly. Cardinal […]
Owens & Minor down — even with Street-beating Q2 results
Owens & Minor (NYSE:OMI) posted second-quarter financial results today that beat the overall consensus on Wall Street. Shares in OMI, however, were down more than –10% to $42.13 apiece in morning trading. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down slightly. The Richmond, Va.–based company reported profits of […]
Henry Schein beats The Street in Q2 results, raises guidance
Henry Schein (NSDQ:HSIC) today posted second-quarter results that beat the overall consensus on Wall Street. The Melville, N.Y.-based company reported profits of $163.9 million, or $1.10 per share, on sales of $2.9 billion for the three months ended June 26, for a sales growth of 76.2% compared with Q2 2020. Adjusted to exclude one-time items, earnings […]
White House allocates 55M COVID-19 vaccine doses for global distribution
The Biden-Harris administration today announced a global distribution list for 55 million doses of America’s COVID-19 vaccine supply. Biden pledged to allocate 80 million doses of the COVID-19 vaccine supply belonging to the U.S. by the end of June to aid the global fight against the pandemic. Earlier this month, the administration announced the plan […]
Pfizer to boost vaccine production for U.S. by 10%
Pfizer will deliver 10% more of its COVID-19 vaccine to the U.S. by the end of May than originally planned, its CEO tweeted yesterday. The tweet follows the federal government’s decision to recommend a temporary halt in the distribution of Johnson & Johnson’s single-dose vaccine, which has been tied to rare instances of blood clot […]
Medline Industries up for sale?
Medline Industries is looking for a buyer in a deal that could be worth $30 billion, according to a report in the Wall Street Journal. The Journal cites “people familiar with the matter” saying that Northfield, Ill.-based Medline has hired Goldman Sachs to manage the process. The people added that the company may alternatively seek to go […]