Medtronic CEO Geoff Martha today said a “catastrophic explosion” in Medtronic’s supply chain for packaging and a shortage of resins were the biggest issues hurting the company’s fourth-quarter performance. Fridley, Minnesota-based Medtronic (NYSE:MDT) reported about $350 million less in sales than analysts were expecting for the quarter, which ended April 29. Martha said about 75% of […]
Outsourcing
The cloud is transforming medtech: Amazon, Microsoft, Google, J&J, Philips and GE Healthcare leaders explain
Leaders in medtech and cloud computing discuss payoffs and potential in device connectivity, product development and cross-industry partnerships. If knowledge is power, that power comes from a steady stream of information, and we know there’s no shortage of that in healthcare. The challenge has long been how to capture that information, store it, analyze it […]
Manufacturing matchmaker Fictiv raises $100M for supply chain push
Fictiv has closed a $100 million Series E funding round, the on-demand manufacturing technology company said today. Fictiv focuses on “helping companies produce better products,” co-founder and CEO Dave Evans said, with three main offerings: new product development, engineer-to-order products, and maintenance, repair and operations (MRO). But the company doesn’t actually own any manufacturing equipment. […]
TE Connectivity beats the Street with Q2 results
TE Connectivity (NYSE:TEL) posted second-quarter results today that beat the consensus forecast on Wall Street. The Schaffhausen, Switzerland–based company provides connectivity and sensor solutions for a broad range of industries, including medtech. TE Connectivity reported profits of $560 million, or $1.71 per diluted share, on sales of $4.0 billion for the three months ended March […]
Intuitive eyes sole-source suppliers as it expands capacity
Top executives at Intuitive Surgical (Nasdaq: ISRG) have sole-source suppliers on their minds as they ramp up manufacturing capacity in the face of continued supply chain challenges. The robotic surgery technology developer’s growth and mindfulness of supply chain resiliency could bring new opportunities for Intuitive’s suppliers — along with competition from others who want in. […]
Moody’s warns of cybersecurity, antitrust and supplier risks for medical device companies
Medical device companies face heightened cybersecurity burdens, antitrust enforcement and supplier risks, according to a new report out of Moody’s. The research firm’s previous quarterly report in February called attention to continued supply chain and labor problems for medtech. The report flagged legislative proposals for new rules and regulations on medical device developers and manufacturers, including new […]
Sterifre Medical prepares to launch its Aura desktop disinfection device
Sterifre Medical is demonstrating its Aura device and courting investors as it prepares to launch the automatic point-of-care disinfection system. The Aura is a portable machine that circulates hydrogen peroxide and activated oxygen with the push of a single button to disinfect stethoscopes, sensors, pumps, tablets, phones, keys, badges and anything else you can fit […]
How Minnetronix helped Oculogica launch its new EyeBOX concussion diagnostic device
Less than three months after Oculogica won FDA clearance for its portable concussion diagnostic device, contract manufacturer Minnetronix is about to ship the first units to customers. “We are aspiring to be a vital sign for brain health,” Oculogica CEO Rosina Samadani said in an interview. Diagnosing a concussion used to require asking a patient […]
Microsoft CMO: Using the cloud to improve medtech design, manufacturing and care
Dr. David Rhew, Microsoft’s global chief medical officer and VP of healthcare, has been studying how technology can improve health outcomes for nearly three decades. His focus has long been on access to care, quality of care, patient safety, improving experiences for patients and providers, and finding ways to improve the overall efficiency of care. […]
How Phillips-Medisize helped Sotech Health develop a breath analyzer for COVID-19
Medtech contract manufacturing giant Phillips-Medisize used its human-factors product design expertise to help startup Sotech Health create what the companies claim is a breath sensor system that can detect COVID-19 in less than 30 seconds. Dallas-based Sotech Health has submitted the device to the FDA for an emergency use authorization. It’s also seeking regulatory nods in Canada, […]
FDA says Philips knew about toxic foam for years before massive recall
The FDA said it observed potential violations of federal medical device safety rules when inspecting a Philips Respironics manufacturing facility connected to the Class I recall of more than 15 million respiratory devices. The FDA recently requested additional safety testing on replacement materials and issued a Form 483. The form details how Philips and its foam supplier were aware […]
