Steris (NYSE:STE) announced today that it will acquire Cantel Medical (NYSE:CMD) for $4.6 billion — a major merger in the infection prevention space. The deal is expected to close by June 30, pending customary closing conditions, regulatory approvals and an OK by Cantel shareholders. News of the merger comes a month and a half after Steris closed […]
Business/Financial News
BREAKING: Big medtech suspends political contributions in wake of Electoral College vote
Just as they lined up to condemn last week’s attack on the U.S. Capitol, major medtech companies are suspending political contributions. Boston Scientific announced on Sunday that it has chosen to temporarily suspend its political action committee (PAC) activity and “review our approach to future contributions. “As we shared last week, we believe in respecting […]
Penumbra on track for higher Q4 revenue
Penumbra (NYSE:PEN) announced today that it expects more than 10% year-over-year sales growth in its fourth-quarter financial results. In its preliminary results, Penumbra expects revenues in the range of $162.5 million to $167.9 million, marking growth of between 12% and 16% when compared to 2019, according to a news release. Within those figures, Alameda Calif.-based Penumbra […]
EY says COVID-19 stunted medtech M&A in 2020, should see improvement in 2021
Ernst & Young today released its 2021 EY M&A Firepower report, revealing a staggering dip in mergers and acquisitions (M&A) activity in medtech. Life sciences M&A activity totaled $159 billion in 2020, according to the report — a plunge to nearly half of the 2019 total of $306 billion, representing one of the lowest levels […]
Grail to debut multi-cancer blood test in Q2
Grail announced today that it expects to introduce its Galleri multi-cancer early detection blood test in the second quarter of 2021. Menlo Park, Calif.-based Grail completed enrollment for the Pathfinder prospective study of Galleri in clinical practice just last month, according to a news release. The 6,600-participant, multi-site, international study under an FDA investigational device […]
Apple, Biogen partner on using smart devices to track cognitive health
Biogen (NSDQ:BIIB) today announced a virtual research study in collaboration with Apple (NSDQ:AAPL) for monitoring and screening cognitive health. The multi-year, observational research study, set to be launched later this year, is slated to investigate the role Apple Watch and iPhone could play in monitoring cognitive performance and screening for a decline in cognitive health, including […]
Pavmed closes $12.4m offering
Pavmed (NSDQ:PAVM) announced last week that it closed a registered direct offering of common stock shares worth $12.4 million. New York-based Pavmed’s previously announced offering included 6 million shares of common stock at a price of $2.24 per share, priced at-the-market under Nasdaq rules, according to a news release. The company estimates that the net proceeds […]
MedTech 100 roundup: Industry skyrockets as hot streak continues
The medtech industry’s seemingly unstoppable rise over the past several weeks shows no signs of slowing down. For the fourth time in five weeks, and for the third consecutive week, the MassDevice MedTech 100 Index — which includes stocks of the world’s largest medical device companies — hit an all-time high. Previous highs have largely been […]
HHS seals plan to sunset regulations 10 years or older
The U.S. Department of Health and Human Services (HHS) today issued a final rule giving it five years to review and potentially sunset regulations that have been in place for at least 10 years. With some exceptions, the agency will look into whether regulations cause financial harm to a substantial number of small entities. It will also […]
CES 2021: Medical technologies you need to know
There are fewer mobile health devices and wearables to check out as this year’s CES goes virtual — with a trend toward medtech to slow the spread of COVID-19. Scheduled for Jan. 11–14, CES 2021 will feature 419 digital health and 219 wearable devices, down from 546 and 635 devices, respectively, presented at CES 2020. […]
Hologic says revenue nearly doubled in Q1
Hologic (NSDQ:HOLX) announced today that its revenues nearly doubled year-over-year in the first quarter of fiscal 2021. Marlborough, Mass.-based Hologic expects to report revenues of more than approximately $1.6 billion, an increase of 89.3% from the first quarter of 2020. That tops the company’s November guidance of between $1.35 billion and $1.425 billion for the quarter […]
