The European Commission said Wednesday that it has opened an in-depth investigation of the proposed $400 million acquisition of Takeda Pharmaceutical’s (TSE:4502;NYSE:TAK) TachoSil surgical sealant patch by Johnson & Johnson (NYSE:JNJ). The commission said it is concerned that the acquisition by J&J’s Ethicon unit may reduce competition and innovation for the supply of dual haemostatic patches, used […]
Conformis furloughs a third of its employees amid coronavirus pandemic
Conformis (NSDQ:CFMS) announced today that it is furloughing a third of its employees and tossed out its 2020 financial guidance amid the coronavirus crisis. The Billerica, Mass.–based orthopedic arthroplasty technology company’s furlough includes approximately 80 employees and substantially all of its temporary workforce, effective today. Conformis said it identified essential and non-essential functions to its business […]
CMS recommends postponing most elective procedures
The Centers for Medicare and Medicaid Services (CMS) released guidance late yesterday asking healthcare providers to postpone adult elective surgeries and procedures, including dental procedures, until further notice. The move is an attempt to preserve the supply of ventilators and personal protective equipment such as masks and gowns while protecting patients and staff from exposure […]
Moody’s lowers outlook for U.S. medtech industry due to coronavirus
Moody’s Investors Service has lowered its outlook for the U.S. medical device industry due to lower sales it expects from the coronavirus outbreak. The Wall Street ratings service said yesterday that it has revised its EBITDA forecast for the next 12 to 18 months to 2% to 4% from 5% to 6%, but added that […]
Here’s some recent medical 3D printing news
Innovation in the medical 3D printing space continues to accelerate. Here are some of the top stories that got our attention at Medical Design & Outsourcing and MassDevice over the past year. June 2019 Digital manufacturing company Protolabs (Maple Plain, Minn.) rolls out metal 3D printing production capabilities. Materialise announced FDA clearance for its Mimics Enlight — a […]
How will coronavirus affect medtech companies that rely on elective surgeries?
One thing is likely to hurt some medtech companies more than others during the coronavirus pandemic: an elective surgical procedure slowdown. This thought had begun to emerge last week among industry watchers, but a pair of tweets over the weekend gained thousands of “likes” and retweets. The American College of Surgeons called for hospitals to […]
RSIP Vision touts AI-based knee reconstruction tech
RSIP Vision announced today that it is developing an AI-based solution for 3D knee reconstruction from X-ray images. Tel Aviv, Israel-based RSIP Vision’s technology is designed to give physicians 3D modeling of each bone, providing data for surgery planning and implant fitting while also improving workflow and cutting costs compared to the currently used high-radiation […]
Insightec raises another $150m for incisionless neurosurgery platform
Insightec announced that it signed definitive agreements for a $150 million Series F financing round with a post-money valuation of $1.3 billion. The Haifa, Israel–based company is the developer of the Exablate Neuro incisionless neurosurgery platform. Insightec touts the Exablate Neuro as the first MR-guided focused ultrasound device to win FDA approval for treating certain […]
FDA asks manufacturers to help prevent protective gear shortages
The FDA said today it wants to hear from surgical mask and gown manufacturers that might be able to increase or speed production to prevent shortages in the U.S. during the COVID-19 outbreak. The agency said it may expedite review of manufacturing site changes or premarket submissions of personal protective equipment, including protective clothing, gowns, […]
Medical device companies continue to scale back sales projections amid coronavirus
Add ConMed (NSDQ:CNMD) to the list of medical device companies scaling back performance projections amid the coronavirus pandemic. The Utica, N.Y.–based minimally invasive surgical device and equipment maker said yesterday that it now expects Q1 2020 revenue growth in the 2–4% range, versus the company’s previous 5–6% guidance. The company also expects a favorable tax […]
U.S. lifts tariffs on certain medical supplies to prevent spread of coronavirus
U.S. trade officials recently exempted more than 100 medical items manufactured in China from import tariffs in an effort to fight the coronavirus outbreak, according to published reports. Cardinal Health and Medline Industries were among 27 companies with certain products that had their 7.5% tariffs lifted. Exempted products included protective masks, drapes and gowns, hand […]
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