Mologic recently announced that it will transition into a social enterprise through the support of a group of philanthropic funds and investors led by the Soros Economic Development Fund, with support from the Bill & Melinda Gates Foundation. The investors that are part of the newly launched Global Access Health (GAH) are spending £30 million […]
Diagnostics
COVID-19 testing boosts Abbott in Street-beating Q2
Abbott (NYSE:ABT) shares took a small dip despite second-quarter results that topped the consensus forecast. The Abbott Park, Ill.-based company posted profits of $1.2 billion, or 66¢ per share, on sales of $10.2 billion for the three months ended June 30, 2021, for a more-than doubled bottom-line on sales growth of 39.5%. Adjusted to exclude […]
The 18 most innovative medical devices of 2021
The Galien Foundation today announced the nominees for most innovative medical devices for its 15th annual Prix Galien USA Awards. The foundation nominates devices, biotechnology and pharmaceutical products for its annual Prix Galien awards to highlight products designed to improve the human condition. “The Awards Committee is excited to introduce the nominees for the 2021 […]
Court orders Hillrom to proceed with BardyDx acquisition
The Court of Chancery in the state of Delaware ordered Hillrom (NYSE:HRC) to complete its planned acquisition of BardyDx. In March, Hillrom reversed course on the planned $375 million acquisition of Bardy Diagnostics and its Carnation Ambulatory Monitor, or CAM patch, claiming that closing conditions weren’t met. Hillrom’s u-turn came in the wake of regional […]
Sherlock Biosciences names new CEO
Sherlock Biosciences announced today it appointed Bryan Dechairo as its president and CEO and he will join the company’s board. Dechairo will succeed co-founder Rahul Dhanda, who will continue to serve as a board member until the end of 2021, after which he will assume the role of strategic adviser in 2022. He joins Cambridge, […]
Eurofins, Rite Aid launch OTC at-home COVID-19 test in U.S.
Eurofins, its empowerDX subsidiary and Rite Aid announced the launch of an over-the-counter, at-home COVID-19 PCR test kit. Luxembourg-based Eurofins’ co-branded kits will be made available at all Rite Aid locations across 17 U.S. states, offering both symptomatic and asymptomatic users a way to test for COVID-19 at home, according to a news release. Eurofins […]
Abbott laying off hundreds of workers as COVID-19 testing demand drops
Abbott (NYSE:ABT) is reportedly laying off as many as 400 workers in Maine as a result of a drop in demand for its COVID-19 diagnostics. WMTW-TV in Portland, Maine reported that about 300 Abbott employees will be laid off in Westbrook, as confirmed by the town’s mayor. Additionally, the station reported that about 100 workers […]
Lumos Diagnostics raises $46.8M in Australian IPO
Lumos Diagnostics announced today that it raised $46.8 million ($63 million AUD) in an initial public offering in Australia. Sarasota, Fla.-based Lumos (which has its corporate head offices in Melbourne, Australia), a fully integrated developer and manufacturer of custom point-of-care diagnostic tests, was admitted to the Australian Securities Exchange (ASX) with trading commencing after July […]
SEC claims Parallax Health Sciences, execs misled about COVID-19 tests, PPE
The SEC announced today that it levied a complaint against Parallax Health Sciences and two top executives for making allegedly misleading statements about COVID-19-related products. Without admitting or denying the allegations, Parallax, its CEO Paul Arena, and CTO Nathaniel Bradley consented to judgments permanently enjoining them from future violations of the charged provisions and requiring […]
Eurofins launches COVID-19 testing network to facilitate European travel
Eurofins announced today that it opened a network of about 500 COVID-19 testing centers across Europe to help facilitate summer travel. Luxembourg-based Eurofins’ network covers major traveling hubs to provide testing accessibility in locations ranging from supermarkets to business parks and residential areas, too. According to a news release, the company’s 500-center network is already […]
EchoNous raises $60M for AI-guided ultrasound
EchoNous announced that it raised $60 million to launch its flagship AI-guided Kosmos ultrasound device. Redmond, Wash.-based EchoNous received the investment from Kennedy Lewis Investment Management, with the funding combining senior secured debt and equity to build on the support of KKR, EchoNous’ principal investor since 2015, according to a news release. The company said […]
