Butterfly Network (NYSE:BFLY) shares rose today on second-quarter results that topped the consensus forecast. Shares of BFLY ticked up 3.8% at $2.44 apiece in midday trading today. MassDevice’s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, dipped 0.7%. The Burlington, Massachusetts–based handheld ultrasound developer posted losses of $28.7 million, equalling […]
Butterfly Network
Layoffs in medtech: These companies recently reduced their workforce
The workforce reduction trend has swept the economy recently, and unfortunately, the medtech space is not immune to layoffs. You’ve probably read about the ongoing layoffs sweeping the tech industry, media and more. For instance, Yahoo, Disney, Zoom and more all reported workforce reductions as companies across industries grapple with economic pressures. Think inflation, supply […]
Butterfly Network shares slide on Q1 results
Butterfly Network (NYSE:BFLY) shares dropped today on first-quarter results that fell short of sales expectations. Shares of BFLY dropped 16% to $1.88 apiece in morning trading today. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was relatively flat at the same time. The Burlington, Massachusetts-based handheld ultrasound technology maker posted […]
How did medtech SPAC mergers fare?
Over the past few years, special purpose acquisition corporations (SPACs) have found their way into the medtech space. These businesses — built to bring private companies public — raise initial public offerings (IPOs). They then go and acquire existing companies, taking them public in the process. The value of these mergers varies, but some in […]
Butterfly Network names new president and CEO
Butterfly Network (NYSE:BFLY) today announced it appointed Joseph DeVivo as president and CEO, effective immediately. DeVivo has more than 35 years of business leadership experience and has help numerous leadership positions at healthcare and medical device companies, as well as non-profit organizations, according to the company. Most recently, DeVivo was executive chair of the board of […]
FDA clears AI-enabled lung ultrasound tech from Butterfly Network
Butterfly Network (NYSE:BFLY) announced today that it received FDA 510(k) clearance for an AI-enabled auto B-line counter. Burlington, Massachusetts-based Butterfly Network develops handheld ultrasound technology. B-lines on an ultrasound scan appear as bright, vertical lines indicating wetness in the lung, associated with pulmonary air-space disease. That includes congestive heart failure, chronic obstructive pulmonary disease (COPD), […]
Butterfly Network projects around 20% sales growth in 2023
Butterfly Network (NYSE:BFLY) shares ticked up today on fourth-quarter results that topped the consensus earnings per share forecast. Shares of BFLY rose 12.6% to $2.50 apiece in early-morning trading today. The Burlington, Massachusetts-based handheld ultrasound technology maker posted losses of $33.7 million. That comes to 17¢ per share on sales of nearly $19 million for the […]
Butterfly Network deploys 500 Butterfly iQ+ devices in Kenya
Butterfly Network (NYSE:BFLY) announced today that it completed the first phase of its deployment and training program in Kenya. In March, Butterfly Network announced a $5 million grant to improve maternal and fetal health in Sub-Saharan Africa. The Bill & Melinda Gates Foundation provided the grant. The funds went toward providing 1,000 healthcare workers in the area with […]
Butterfly Network CEO steps down
Butterfly Network (NYSE:BFLY) announced that it came to a mutual agreement for Dr. Todd Fuchterman to step down as president and CEO. Fruchterman also leaves his position as a member of Butterfly’s board of directors. He intends to partner with the company’s leadership team through the year to ensure a smooth transition. “On behalf of […]
Butterfly Network slashes guidance following Q3 misses
Butterfly Network (NYSE:BFLY) shares took a hit today on third-quarter results that came up shy of the consensus forecast. Shares of BFLY fell 14.2% at $4.11 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — fell by 3.7%. The Burlington, Massachusetts-based handheld ultrasound […]
Butterfly Network unveils software to boost ultrasound proficiency at hospitals
Butterlfy Network (NYSE:BFLY) announced that it now offers a proficiency management solution as part of its imaging platform. The proficiency management solution comes as part of the Butterfly Blueprint enterprise imaging platform. Butterfly Network designed it to remove obstacles from standardizing ultrasound as core to bedside patient assessment, diagnosis, and treatment. Butterfly said in a […]
