One thing is likely to hurt some medtech companies more than others during the coronavirus pandemic: an elective surgical procedure slowdown. This thought had begun to emerge last week among industry watchers, but a pair of tweets over the weekend gained thousands of “likes” and retweets. The American College of Surgeons called for hospitals to […]
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Baxter stock moves up on delayed Q4 results
Baxter (NYSE:BAX) shares ticked up today on fourth-quarter results that topped the consensus forecast after delayed reporting because of an internal probe. Shares of BAX were up 10.4% at $78.98 in early-afternoon trading today. The Deerfield, Ill.–based company posted losses of -$19 million, or -5¢ per share, on sales of $3.04 billion for the three months […]
Cochlear loses appeal over $268m in patent damages
The U.S. Court of Appeals for the Federal Circuit upheld a U.S. District Court decision that awarded $268 million in damages from Cochlear Ltd. (ASX:COH) to two competitors in a patent dispute. Yesterday’s ruling comes after several years of legal battles over the patents for hearing implants, and likely won’t be the end, as Cochlear is […]
Hologic, LabCorp gain FDA emergency testing nods
The FDA has granted emergency use authorization for COVID-19-related diagnostic tests to Hologic (NSDQ:HOLX) and Laboratory Corporation of America (NYSE:LH). Hologic described its new Panther Fusion SARS-CoV-2 assay as a molecular diagnostic test that detects SARS-CoV-2, the virus that causes COVID-19. The automated Panther high-throughput system is widely used across the U.S., can provide results […]
First Sensor announces Resch as new CFO
First Sensor announced today that it appointed Marcus Resch as its new chief financial officer, effective March 14, for a 3-year period. Resch will run the sensor-making company’s finance and controlling departments, with responsibility in human resources, IT, investor relations, legal, risk management and compliance. Resch previously held positions in controlling at General Electric (NYSE:GE) before […]
COVID-19 test development surges with pandemic
Companies around the world are racing to develop and distribute tests for COVID-19 to laboratories and to market other products and services they say can help patients and healthcare providers cope with the pandemic. On March 13, the FDA gave Thermo Fisher Scientific (NYSE:TMO) emergency use authorization (EUA) for a diagnostic test that certain U.S. laboratories […]
DeviceTalks Weekly: How is coronavirus affecting medtech?
Welcome to the DeviceTalks Weekly podcast, a regular – and sometimes irregular – opportunity to visit with the editorial team at MassDevice and Medical Design & Outsourcing. This week, Chris Newmarker, executive editor, life sciences, at WTWH Media, reviews our COVID-19 coverage with Tom Salemi, editorial director, DeviceTalks. Tom also chats with Jeffries analyst Raj […]
OtoNexus raises $9.8m
OtoNexus Medical Technologies filed an amendment to its SEC Form D last week to confirm the sale of nearly $10 million in an equity offering. The Seattle-based ultrasound technology maker sold approximately $9.77 million of an $18.2 million offering, leaving just over $8.4 million remaining to be sold, according to the filing. OtoNexus made the […]
Precipio closes Poplar Healthcare OncoMetrix hematopathology division buy
Specialty diagnostics company Precipio (NSDQ:PRPO) announced today that it completed the non-cash acquisition of, among other transactions, the customer base of Poplar hematopathology division called OncoMetrix. The purchase involves no exchange of cash or equity, so it won’t provide a non-dilutive impact to shareholders, according to a news release. Precipio noted that successful implementation without disproportionate […]
BD seeks authorization for COVID-19 tests
Becton Dickinson (NYSE:BDX) said today it will submit an emergency use authorization request this week to the FDA for a coronavirus test that could be used on the BD Max molecular diagnostic system. The diagnostic system is used in hundreds of laboratories across the U.S., according to the company. “BD is also exploring the development of […]
Coronavirus highlights U.S. reliance on drugs, medical products made in China
The coronavirus pandemic has cast a spotlight on U.S. reliance on pharmaceuticals made in China, with the Trump administration reportedly considering actions to increase demand for American-made drugs and medical products. The executive order in coming days would likely close loopholes that allow the federal government to buy foreign-made pharmaceutics and medical devices, The New […]