Hologic CFO Karleen Oberton had some tough words for ax-dropping executives following recent layoffs in the medtech industry and beyond. In an interview with the Wall Street Journal, Oberton and Hologic CEO Steve MacMillan — who together rode a wave of “COVID cash” from the company’s diagnostics business during the pandemic — discussed how they […]
Diagnostics
Bio-Rad names Roop Lakkaraju as CFO
Bio-Rad today announced it appointed Roop K. Lakkaraju as EVP and chief financial officer, effective April 15. Lakkaraju joins the clinical diagnostics and imaging systems company from Benchmark Electronics where he served as EVP and chief financial officer and was responsible for all finance-related functions since 2018. “We are pleased to welcome Roop Lakkaraju as […]
Fujifilm wins FDA nod for AI-powered endoscopy tech that could rival Medtronic’s GI Genius
Fujifilm announced today that the FDA granted 510(k) clearance for its CAD Eye AI-powered detection system for endoscopic imaging. CAD Eye enables the real-time detection of colonic mucosal lesions like polyps and adenomas during colonoscopy procedures. It supports endoscopists in detecting and removing pre-cancerous lesions, regardless of size, shape and color. The system enters a […]
Siemens Healthineers to close Fast Track Diagnostics unit
Siemens Healthineers announced today that it intends to close its Fast Track Diagnostics Unit in a move that affects just shy of 100 workers. The business closure affects about 90 employees, mostly based in Luxembourg. The company has conversations underway with local employee representatives and plans to follow local labor regulations and guidelines in accordance […]
Philips, AWS expand partnership on digital pathology in the cloud
Philips today announced an expanded partnership with Amazon Web Services (AWS) based around digital pathology in the cloud. The two initially linked up about a year ago, inking a deal to develop generative AI applications. This partnership centered around Philips’ imaging archiving and communications system. It wasn’t the first time a medtech giant linked up […]
iRhythm closes offering worth more than $660M
iRhythm announced today that it closed an offering of senior notes worth gross proceeds of $661.25 million. The San Francisco-based cardiac monitor maker said earlier this week that it intends to offer $450 million in convertible senior notes. Approximately 17 hours later, it upsized that offering to a base of $575 million. San Francisco–based iRhythm […]
GE Healthcare’s AI models can predict patient responses to immunotherapy
GE HealthCare today announced data showing its AI models’ ability to accurately predict patient responses to immunotherapies. The study collected clinical data to accurately forecast the effectiveness and toxicity of cancer immunotherapy. Data demonstrated accuracy between 70% and 80% with the AI models in a pan-cancer cohort. Investigators published outcomes in the Journal of Clinical […]
iRhythm proposes $450M offering
iRhythm announced today that it intends to offer $450 million in convertible senior notes. San Francisco–based iRhythm plans to offer the notes — due 2029 — to qualified institutional buyers. It intends to grant initial purchasers a 13-day option to buy up to an additional $67.5 million in notes. The notes will be senior, unsecured […]
Masimo stock dips despite Street-beating Q4
Masimo shares fell slightly despite fourth-quarter results that came in ahead of the consensus forecast. Shares of MASI dipped 2.6% at $126.76 apiece in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — fell 0.3%. The Irvine, California–based patient monitoring technology developer posted profits of […]
A high-ranking BD executive is set to retire
BD announced today that its EVP and President of Life Sciences, Dave Hickey, intends to retire this year. Hickey plans for his retirement to go into effect on July 1, 2024. He originally joined BD in 2014, serving as president of Diagnostic Systems. He took over as president of Integrated Diagnostic Solutions in 2019 and […]
iRhythm stock dips on mixed Q4 as guidance ‘may disappoint’ investors
iRhythm Technologies shares took a hit today on third-quarter results that came in mixed compared to the consensus forecast. Shares of IRTC fell 5.5% at $108.75 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — remained even. The San Francisco-based heart monitoring technology […]