Medtech stocks ticked down over the course of last week as the COVID-19 pandemic continues to bear economic ramifications. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 82.4 points at the end of last week (May 15). That total represents a -1.9% decline from the 83.98-point […]
Surgical
Ocutrx debuts AR-assisted surgery system
Startup Ocutrx Vision Technologies (Irvine, Calif.) announced today that it is launching a new technology for surgery visualization. The OR-Bot Surgery Visualization Theatre includes the ORLenz augmented reality (AR) surgery headset with three visualization options, depending on the surgeon’s preference: A surgery view with augmented virtual patient and operating tool information. The choice of using […]
Titan Medical posts Q1 bottom-line gain
Titan Medical (TSX:TMD;OTC:TITFX) shares dipped today on first-quarter financial results that revealed a significant bottom-line resurgence. The Toronto-based surgical robotic technology developer posted losses of $768,043, or -2¢ per share for the three months ended March 31, 2020, for a 97.3% bottom-line gain from losses of nearly $28.3 million in the first quarter last year. Titan […]
TransEnterix narrows losses in Q1, expects negative COVID-19 impact
TransEnterix (NYSE:TRXC) narrowed its losses during its first quarter amid a major strategy shift — but the COVID-19 pandemic is expected to have a negative impact on the robot-assisted surgery developer’s results. The Research Triangle Park, N.C.-based company said in a news release that it implemented fourth-quarter restructuring that reduced its workforce by approximately two-fifths prior […]
Activ Surgical launches robotic surgery AI software
Activ Surgical said today it is launching ActivEdge, an artificial-intelligence and machine-learning platform designed to improve surgical procedures and outcomes. The Boston-based company said it will be available initially in the U.S. and next year worldwide. Activ Surgical said it will initially focus on promoting the new software for the most common laparoscopic procedures, including […]
Cardiovascular societies outline return to medical, surgical procedures
A group of North American cardiovascular societies released guidance today on the resumption of heart-related procedures in light of the COVID-19 pandemic. The guidance, scheduled to be published in a future issue of the Journal of the American College of Cardiology, takes into account regional differences in the intensity of the outbreak. Most invasive cardiovascular […]
Teleflex beats The Street on sales, posts sharply higher profits
Shares in Teleflex (NYSE:TFX) dropped nearly 4% today, despite a first-quarter 2020 report that revealed Street-beating sales and skyrocketing profits. The Wayne, Pa.-based surgical and critical care device maker posted profits of $131.15 million, or $2.83 per share on sales of $630.64 million for the three months ended March 29, 2020, for a 220.68% bottom-line gain […]
Onkos Surgical raises $7.6m
Surgical oncology device developer Onkos Surgical filed an SEC Form D to confirm the sale of nearly $7.6 million in equity. The Parsippany, N.J.-based company made its first sale for the new notice on April 21, having now sold approximately $7.57 million. The total offering amount is $12 million, leaving more than $4.4 million remaining […]
These medical devices are getting ready to launch in 2020
Despite the COVID-19 pandemic, medical device companies are still working to gain regulatory approvals and launch new devices this year. The pandemic has largely fixed the FDA’s focus on emergency use authorizations (EUAs), leaving more typical device approvals waiting. At press time, the regulatory agency had granted 84 EUAs beginning Feb. 4 and had approved […]
Cutera, Senseonics and more receive Paycheck Protection Program loans
A number of medtech companies announced that they received millions of dollars in loans through the Paycheck Protection Program of the Coronavirus Aid, Relief and Economic Security (CARES) Act. Cutera (NSDQ:CUTR), Senseonics (NYSE:SENS), Viveve Medical (NSDQ:VIVE) and Encision (ECIA:ECIA) received approximately $15 million combined through the program administered by the U.S. Small Business Administration amid the COVID-19 pandemic. […]
White House gives elective procedures green light
Shares of two of the largest orthopedic device companies started climbing this morning on news of a new White House recommendation that elective surgical procedures may resume. Shares of Zimmer Biomet (NYSE:ZBH) were up 6.42% to $116.45 apiece in mid-morning trading and those of Stryker (NYSE:SYK) had risen 5.28% to $184.20.on both an inpatient and outpatient basis […]