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 […]
Butterfly Network
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 […]
Butterfly Network distributes its handheld ultrasound system in Kenya
Butterfly Network (NYSE:BFLY) announced today that it deployed 500 Butterfly iQ+ devices to healthcare practitioners 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 geared toward providing 1,000 healthcare workers in the area […]
10 big earnings stories from the last quarter: How are medtech stocks doing now?
Economic uncertainty appears to have produced a wide variety of medtech earnings stories during the most recent round of quarterly results. Some medical device companies received massive boosts from their quarterly performance, while others saw their stocks sink amid missed projections and other various issues. The phrase “macroeconomic headwinds” was a common phrase. Medtech faces […]
Butterfly Network asks judge to dismiss Fujifilm Sonosite IP suit
Butterfly Network (NYSE: BFLY) announced today that it asked a federal judge in Delaware to dismiss Fujifilm Sonosite’s patent infringement lawsuit against the handheld ultrasound creator. Fujifilm Sonosite (Bothell, Washington) filed the lawsuit in the U.S. District Court for the District of Delaware in March. The suit claims infringement of seven patents (U.S. Patent Nos. […]
Butterfly Network rises on Q2 results, will reduce workforce to extend cash runway
Butterfly Network (NYSE:BFLY) shares are up on second-quarter results that beat the consensus forecast, with the company announcing plans to reduce a tenth of its workforce. Shares of BFLY were up more than 16% at $5.66 apiece by the close of trading today. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest […]