The founders of medical device startup LifeServe Innovations have been recognized by BusinessWeek magazine as finalists in its annual list of the nation’s top 25 entrepreneurs under the age of 25.
ALung Technologies Inc. closed a $14 million series A financing round.
Pittsburgh-based private equity firm Eagle Ventures Inc. led the funding round, with venture capital firm Birchmere Ventures and new and existing individual investors also joining in.
CleveMed chairman Bob Schmidt thinks he has an answer for the trends of rising healthcare costs, fewer doctors to treat more patients and provider pay-cuts by the federal government: eHealth.
“eHealth” means different things to different organizations, though for most it means using the Internet or electronic means to deliver and manage healthcare.
Electromed Inc. (NASDAQ:ELMD) sold 200,000 additional shares of stock to the underwriter of its initial public offering, Feltl & Co. Inc., in an over-allotment option.
The $4.00-per-share deal will bring the IPO’s net proceeds to approximately $6.0 million after deducting underwriting discounts and commissions and offering expenses, according to the New Prague, Minn.-based respiratory device maker. Electromed makes the SmartVest airway clearance system, which uses high-frequency chest wall oscillation to help clear the lungs of mucus and other secretions.
ResMed Inc. (NYSE:RMD) completed a two-for-one split of the company’s stock on August 30, doubling the number of its outstanding shares of common stock.
The San Diego-based sleep apnea device maker’s number of shares now stands at about 151.4 million, excluding those held as treasury stock, according to the company.
While many college students hope to find a job with any company upon graduation these days, a second-year Case Western Reserve University medical student has already raised $100,000 for his own medical device start-up.
Rick Arlow and partner Zachary Bloom, a recent Case graduate in healthcare economics, started LifeServe Innovations LLC to capitalize on a market opportunity that Arlow found while talking to paramedics and emergency physicians about on-the-job challenges.
The Cuyahoga County New Product Development and Entrepreneurship Loan Fund awarded Cleveland Medical Devices Inc. $60,000 to step up commercialization of the company’s SleepView device for sleep apnea screening at home.
CleveMed has a lineup of wireless diagnostic sleep systems, including SleepView, which is the smallest and lightest home sleep monitor with an American Academy of Sleep Medicine-recommended Type 3 channel set.
Cook Medical initiated a voluntary recall of its percutaneous tracheostomy devices that contain a Covidien (NYSE:COV) 6PERC or 8PERC Shiley tube.
According to the Food & Drug Administration, the Bloomington, Ind.-based medical product manufacturer’s recall comprises 17 lots of the ‘Ciaglia Blue Rhino’ and ‘Ciaglia Blue Dolphin’ introducer sets and trays.
Ohio University spinoff Diagnostic Hybrids Inc. has received Chinese regulatory approval to sell a respiratory virus testing kit.
The company’s D3 Ultra DFA Respiratory Virus Screening and ID Kit screens and identifies the following viruses: Influenza A, Influenza B, Parainfluenza 1, 2, & 3, Respiratory Syncytial Virus and Adenovirus.
Covidien plc (NYSE:COV) settled a patent infringement lawsuit brought against its corporate prececessor, Tyco Healthcare Group LP, by Kimberly-Clark Worldwide Inc. (NYSE:KMB) over endotracheal tubes.
The Mansfield, Mass.-based medical products giant and its Irving, Texas-based competitor agreed to settle the case, each paying their own legal fees, according to court documents.
Kimberly-Clark filed suit in the U.S. District Court for Eastern Wisconsin in April 2009, alleging that Covidien subsidiary Mallinckrodt’s SealGuard and SealGuard Evac endotracheal tubes infringe a patent for its Microcuff product.
Teleflex Medical Inc. issued a voluntary global recall of its AQUA+FLEX humidifier after receiving complaints that a component of the device may disconnect.