Alphabet‘s (NSDQ:GOOGL) life sciences group, Verily, said yesterday that it raised $1 billion from a group of investors, including private equity firm Silver Lake and the Ontario Teachers’ Pension Plan. The company plans to use its newly-raised funds to support strategic partnerships and potential acquisitions. In a statement, Verily announced that Alphabet’s chief financial officer, […]
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Report: Medtech rules help push J&J’s India numbers down
Medical device price caps and other regulations contributed to a 3% drop in Johnson & Johnson‘s (NYSE:JNJ) sales in India, according to a new report from Reuters. The company reported overall sales of $829 million (INR ₹58.3 billion) in the country in its filing with the Ministry of Corporate Affairs, according to the report. After-tax […]
Gynesonics closes $75m financing round
Gynesonics said today that it closed a $75 million equity financing round to support its Sonata system intended for diagnostic intrauterine imaging and the transcervical treatment of symptomatic uterine fibroids. The round was led by Bain Capital Life Sciences and joined by all the Redwood City, Calif.-based company’s existing investors, including Abingworth, Advanced Technology Ventures, […]
Analyst downgrades pressure medtech stocks
Several medical device companies took hits yesterday after analysts on Wall Street downgraded their stocks, on a day when the major market indices each closed up a hair, and even medtech firms that enjoyed upgrades came under pressure. Globus Medical (NYSE:GMED) suffered the most after Morgan Stanley analyst David Lewis cut his rating on the stock from […]
Medtronic, IBM Watson debut hypoglycemia prediction feature for diabetes app
Medtronic (NYSE:MDT) and IBM Watson Health today launched a new feature for its Sugar.IQ personal diabetes assistant app that can predict the likelihood of a user experiencing a low glucose event within a four-hour window. The feature, called IQcast, uses AI tech from IBM and becomes more accurate as the low blood sugar event draws nearer, according to […]
Former Rotation Medical CEO Shadan joins Miach Ortho | Personnel Moves – January 3, 2019
Early stage medtech firm Miach Orthopaedics said today that it named former Rotation Medical CEO and medtech vet Martha Shadan as its new prez and chief executive officer. Shadan has held numerous leadership positions at medtech firms, including Zimmer Biomet (NYSE:ZBH), Covidien, Bristol Myers Squibb and Merck, Westborough, Mass.-based Miach said. Prior to joining Miach, Shadan […]
Prioritizing Innovation – How major players in medtech stay ahead of the curve
In the medtech industry, if you don’t innovate, you can’t compete. While innovation and breakthrough technologies may be the core currency at startups, larger medical device firms have more to balance alongside research and development, making strategies for maintaining innovation essential to staying ahead of the curve. Last month at Device Talks West, Medtronic (NYSE:MDT) neurovascular R&D […]
Axonics submits interim data to FDA for sacral neuromod device
Axonics Modulation Technologies (NSDQ:AXNX) said today that it submitted interim clinical data from the pivotal study of its implantable sacral neuromodulation system to the FDA. The company is evaluating its r-SNM system as a therapy for people with urinary dysfunction. Axonics’ interim analysis was submitted as a supplement to the company’s “literature-based” premarket approval application. The […]
Cook Medical buys ex-cigarette plant in N.C.
Cook Medical said today that it inked a deal to buy a former cigarette manufacturing plant in North Carolina. The company plans to begin converting a portion of the R.J. Reynolds building in Winston-Salem’s Whitaker Park into a medical device manufacturing plant this year. More than 650 employees will work in the 850,000-square-foot facility, according […]
Titan Medical eyes 2019 for U.S., EU Sport robot submissions
Titan Medical (NSDQ:TMDI) said today that it expects to file for 510(k) clearance in the U.S. and CE Mark clearance in the E.U. by the end of 2019 for its Sport robotic surgical system. The company added that based on the timing of the approvals, Titan plans to begin commercializing its single-port robotic system in […]
FDA clears Brainscope’s concussion Dx device
BrainScope said today that it won FDA clearance to include new indication language for its BrainScope One concussion assessment device. Following a multi-parameter assessment, the company’s device can determine the likelihood of the presence and severity of a concussion or mild traumatic brain injury. “This additional FDA labeling for our product, BrainScope One, recognizes the unique […]
