Medtronic (NYSE:MDT) announced that, through the Medtronic Foundation, it is committing approximately $1.2 million to coronavirus relief efforts around the world. The company said its commitment to helping during the pandemic that is sweeping the globe includes cash contributions from the Medtronic Foundation and product donations from the company itself, according to a news release. Cash […]
Respiratory
FDA clears Paragonix donor lung preservation system
Paragonix Technologies announced today that it won FDA 510(k) clearance for its LUNGguard donor lung preservation system. Paragonix designed the LUNGguard for the hypothermic preservation of lungs during transportation and the eventual transplantation into a recipient using cold storage solutions. LUNGguard is indicated for a storage time of up to eight hours. Cambridge, Mass.–based Paragonix’s […]
How medtech companies are responding to the deadly coronavirus outbreak
Medical device companies all over have felt the impact of the coronavirus pandemic that originated in China. The latest figures from the World Health Organization (WHO) show that at least 600 people have died — almost all of them in China — with tens of thousands of confirmed coronavirus cases in dozens of countries. Demand […]
GE Healthcare recalls nearly 3,600 anesthesia systems
GE Healthcare (NYSE:GE) is recalling certain Carestation anesthesia systems in the U.S. due to a problem that could halt patient ventilation, according to the FDA. FDA labeled the recall as Class I, the most serious type of medical device recall. The Carestation 620/650/650c A1 models may have a loose interior cable connection that could cause […]
Nuvaira announces Griffin as new CFO
Obstructive lung disease treatment developer Nuvaira announced that Tom Griffin joined the company as its new chief financial officer. Griffin has a 30-year record of leadership roles that included guiding companies through investment financing, commercialization growth and IPO stages, according to a news release. He most recently served as CFO at Avedro, which completed its […]
Itamar Medical prices $35m offering
Itamar Medical (TASE:ITMR) announced that it upsized and priced a public offering of American depository shares (ADSs) for total gross proceeds of approximately $35 million. The Caesarea, Israel–based respiratory sleep disorder treatment developer offered more than 2.5 million ADSs at a public offering price of $13.75 per ADS to reach the $35 million mark before the […]
Ex-Sanovas CEO convicted in $2.6m fraud case
A federal jury in San Francisco convicted former Sanovas president & CEO Larry Gerrans this week of wire fraud and money laundering in connection with a scheme to defraud the medical device company. The jury also found Gerrans, 49, of San Anselmo, Calif., guilty of engaging in monetary transactions in criminally derived property, making false […]
ResMed posts strong 2Q growth
ResMed (NYSE:RMD) shares crept up today on second-quarter results that soundly beat the consensus forecast. The San Diego–based respiratory treatment device maker posted profits of $160.6 million, or $1.10 per share, on sales of $736.2 million for the three months ended Dec. 31, 2019, for a 28.9% bottom-line gain on sales growth of 13.1%. Adjusted to […]
Vyaire Medical appoints new CEO
Vyaire Medical this week said it appointed Gaurav Agarwal as CEO, effective immediately. Agarwal replaces Dave Eckley who is stepping down from the role of CEO but will remain on the Board of Directors. “We are thrilled to welcome Gaurav to Vyaire,” chairman of the board Steven Dyson said in a news release. “He brings […]
ResMed settles kickback allegations for $37.5 million
This article has been updated with comments from ResMed. ResMed (NYSE:RMD) has agreed to pay more than $37.5 million to settle five whistleblower lawsuits claiming the company paid kickbacks to doctors, sleep labs and medical equipment suppliers to obtain customer referrals, according to the U.S. Department of Justice. Federal prosecutors alleged that San Diego-based ResMed: […]
Hemovent wins CE Mark for mobile heart and lung support device
Hemovent GmbH announced today that it won CE Mark approval for its Mobybox Runner controller for heart and lung support. The Mobybox is a miniaturized heart and lung machine designed to improve safety, ease of use, mobility and performance for supporting heart and lunch health. It utilizes the company’s Bionique Flow technologies used for gentle […]