Say hello to MassDevice +5, a bite-sized view of the top five medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 5 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
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5. Worcester Polytechnic Institute launches smart medical devices program
Worcester Polytechnic Institute (WPI) has announced the launch of its new PracticePoint program that is designed to bring research, development and testing of medical devices under one roof.
PracticePoint, with $17 million in initial funding, will focus on creating smart and secure medical devices that can interact with the physical world and improve patient-centric care. Read more
4. NxThera adds $6m for Rezūm prostate device
NxThera said this week that it added another $6 million to its coffers in an ongoing round of debt financing.
The Maple Grove, Minn.-based company is offering convertible promissory notes and Series C preferred stock warrants in the round, according to the filing, with the first sale logged Jan. 13. Read more
3. Why Abbott’s CEO is excited about Bigfoot Biomedical and diabetes treatment
Just one week after Abbott said it inked a deal with Bigfoot Biomedical to develop an automated diabetes management system, CEO Miles White told analysts that he thinks Bigfoot is playing an important role in the strategic change taking place in the space.
“It’s a fairly clever service and approach that I think will create, not just an alternative that makes the management of the disease or management of someone’s insulin easier, but I think the value proposition of it is going to be pretty compelling,” he said yesterday, referencing Bigfoot’s insulin delivery platform. Read more
2. GE Healthcare a badly needed Q2 bright spot
Sales and profit growth for GE Healthcare were sorely needed bright spots during the second quarter for its parent company, which saw its overall profits halved on a nearly -12% top-line slide but still managed to eke out revenue and earnings beats.
GE Healthcare put up profits of $826 million on sales of $4.70 billion for the three months ended June 30, for gains of 5.6% and 3.9%, respectively, compared with Q2 2016. Read more
1. Intuitive Shares rise in wake of solid Q2 beat
Shares in Intuitive Surgical rose today in after hours trading after the surgical robotics maker topped expectations on Wall Street with its 2nd quarter earnings results.
The Sunnyvale, Calif.-based company posted profits of $221.5 million, or $5.77 per share, on sales of $756.2 million for the 3 months ended June 30, for bottom-line growth of 23.2% while sales grew 12.2% compared with the same period in the previous year. Read more