3M (NYSE: MMM) announced today that it plans to spin off its Health Care business by the end of 2023. The new Health Care business will be a roughly $9-billion-a-year company focusing on wound care, oral care, healthcare IT and biopharma filtration. 3M officials argue that the transaction will better position Health Care to innovate. […]
Pear Therapeutics announces layoffs
Prescription digital therapeutics company Pear Therapeutics (Nasdaq:PEAR) announced today that it is letting go of roughly 25 employees, representing 9% of its workforce. The layoffs are part of an overall operations restructuring that the Boston-based company said will “narrow its near-term business focus and reduce its workforce due to the macroeconomic environment,” according to an […]
Intuitive misses in Q2 as work continues on next-gen robots
Intuitive (Nasdaq: ISRG) reported second-quarter results that failed to meet the consensus forecast on Wall Street, with the surgical robotics giant warning that COVID-19 will likely continue to have an adverse impact on da Vinci procedure volumes. Sunnyvale, California–based Intuitive said yesterday evening that it earned $308 million, or 85¢ per share, off $1.52 billion […]
Amazon seeks healthcare ‘reinvention’ with $4B One Medical acquisition
Amazon (Nasdaq:AMZN) is making a big expansion into healthcare, with plans to acquire primary care provider One Medical in a nearly $4 billion deal. One Medical is a healthcare organization with a focus on digital health and inviting, convenient in-office primary care. According to its website, it has locations in 17 metro areas across the […]
GE Healthcare to keep its name after spinoff — but with tweaks
GE (NYSE:GE) announced today that GE Healthcare will keep its name after it spins off from its parent company early next year. Though, new branding capitalizes the “C” in “healthcare” (i.e. GE HealthCare) — a move the company says better demonstrates the healthcare business’s focus on supporting both better health and better care and the […]
Outset Medical faces shareholder lawsuit after shipment hold
Outset Medical (Nasdaq: OM) is facing a shareholder lawsuit in federal court, a month after it announced a shipping hold on its Tablo hemodialysis system for home use. The company said on June 13 that it was holding off shipments amid a pending FDA review and clearance of a 510(k) submitted for changes made since […]
FDA approves expanded, full-body MRI compatibility with Inspire therapy
Inspire Medical Systems recently announced that FDA has approved additional MRI scan conditions for use with Inspire therapy Minneapolis-based Inspire Medical is the maker of a minimally-invasive, implantable device that uses neurostimulation to treat obstructive sleep apnea. Company officials in a July 6 news release said the full-body MRI approval expands the Inspire use labeling. […]
Hyperfine unveils new software for rapid MR brain imaging
FDA recently cleared a software upgrade to Hyperfine’s portable MRI device that enables scenes in under 3 minutes with no ionizing radiation, the Austin, Texas–based company said today. Hyperfine officials think the advancement could significantly improve the monitoring of hydrocephalus — brain fluid build-up — in children. Pediatric patients may have trouble staying still for […]
Onkos wins FDA clearance for 3D-printed pelvic reconstruction system
Onkos Surgical announced today that the FDA has cleared its My3D personalized pelvic reconstruction system. My3D expands Onkos Surgical’s portfolio to include systems to treat pelvic conditions. The Parsippany, New Jeresey–based company said My3D includes 3D-printed implants, instruments and models. There is also an advanced planning service to treat deformity, trauma, disease and revisions. There […]
iRhythm stock up on positive news out of CMS
iRhythm Technologies (Nasdaq:IRTC) stock soared today on positive reimbursement news out of CMS as the agency makes 2023 fee schedule proposals. Truist analysts yesterday evening pointed to CMS proposing a national coverage determination (NCD) of $229 for the ZioXT wearable cardiac monitor. When incorporating the geographic physician payment adjustments, the analysts thought the actual payment […]
Former Mazor VP accused of insider trading around Medtronic acquisition
A former Mazor Robotics VP is among three businessmen facing federal insider trading charges and an SEC lawsuit over stock trades leading up to Medtronic’s $1.6 billion acquisition announcement in 2018. Ron Tavlin was Mazor’s VP of business development from 2017 to 2019. Before that, he’d been a paid consultant for Medtronic. The U.S. Attorney’s […]