Avanos Medical (NYSE:AVNS) shares ticked up today on first-quarter results that topped the consensus forecast. The Alpharetta, Ga.-based company posted profits of $3.7 million, or 8¢ per share, on sales of $180.4 million for the three months ended March 31, 2020, recording profits after a $20.3 million loss this time last year on sales growth of […]
Respiratory
Pulmonx raises $66m to commercialize minimally-invasive emphysema treatment
Pulmonx announced today that it raised $66 million in a financing round led by global life science investor Ally Bridge Group. The Redwood City, Calif.-based company also received contributions from new investors Adage Capital Management, HealthQuest Capital, Partner Fund Management and Rock Springs Capital, along with existing investors. Pulmonx secured an additional $17 million in […]
AdvaMed announces VentConnect online platform
Medtech trade association AdvaMed this week announced a new platform called VentConnect (www.VentConnect.org) to connect ventilator companies with component suppliers. The goal is to help quickly scale the production and distribution of life-saving ventilators amid the COVID-19 pandemic. Get the full story on our sister site Medical Design & Outsourcing.
ResMed launches remote ventilator monitoring in Europe
ResMed (NYSE:RMD) announced today an accelerated launch of cloud-based remote monitoring software for ventilators and Lumis bilevel devices across Europe. The San Diego–based maker of respiratory support devices has been among a host of ventilator makers rushing to meet demand amid the COVID-19 pandemic. But the company noted that there are also many other people who […]
Liberate Medical wins EUA for VentFree muscle stimulator
Liberate Medical announced today that it received FDA emergency use authorization (EUA) for its VentFree respiratory muscle stimulator. Crestwood, Ky.-based Liberate’s VentFree system is designed to reduce disuse atrophy of the abdominal wall muscles, which could reduce the number of days that adult patients require mechanical ventilation. It could also be used for patients with […]
Vyaire Medical, Spirit AeroSystems partner on ventilator production
Vyaire Medical and Spirit Aerosystems (NYSE:SPR) announced today that they are partnering to build critical care ventilators amid the COVID-19 pandemic. In a temporary partnership, Vyaire is slated to ramp up production of its critical care ventilators at Spirit’s Wichita, Kan.-based converted manufacturing facility. The agreement adds to Vyaire’s already-accelerated production, as the Chicago-based company […]
MedTech 100 roundup: Stocks take a slight dip to end April
Medtech stocks remain in a stronger position than they were at the low point of the COVID-19-induced economic crisis, but they took a small dip over the last week. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 80.62 points at the end of last week […]
3M files 5 more price-gouging lawsuits
3M (NYSE:MMM) this week sued 5 vendors who allegedly offered billions of nonexistent N95 respirators to emergency officials in 3 states. One of the defendants claimed to have up to 5 billion respirators, the company said. None of the defendants is connected to 3M, nor had access to the respirators they tried to sell officials in […]
ResMed up on revenues boosted by ventilator sales
ResMed (NYSE:RMD) shares ticked up today on third-quarter results that topped the consensus forecast with COVID-19-influenced demand for ventilators. The San Diego-based company posted profits of $163.1 million, or $1.12 per share, on sales of $769.5 million for the three months ended March 31, 2020, for a 54.7% bottom-line gain on sales growth of 16.2%. Adjusted […]
NASA-developed ventilator receives EUA
The FDA granted emergency use authorization (EUA) to a ventilator developed by NASA that is tailored for treating patients with COVID-19. NASA engineers developed the “ventilator intervention technology accessible locally” device, called “VITAL,” at NASA’s Jet Propulsion Laboratory in Southern California in an effort to free up traditional ventilators for use on patients with the […]
GE drops on missed Q1 earnings
General Electric (NYSE:GE) shares slid down today on mixed first-quarter results compared to the consensus forecast; the company’s healthcare segment saw rising revenue and profits. The Boston-based company posted profits of $6.2 billion, or 72¢ per share, on sales of $20.5 billion for the three months ended March 31, 2020, for a 71% bottom-line gain on […]