Medtech stocks ticked down over the course of last week as the COVID-19 pandemic continues to bear economic ramifications. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 82.4 points at the end of last week (May 15). That total represents a -1.9% decline from the 83.98-point […]
coronavirus
Here at MassDevice — medtech's online business journal — we're covering news about the coronavirus (COVID-19) pandemic daily. Here is the latest about coronavirus and the medical device industry, regulatory changes related to the pandemic, new tests for the virus, vaccine development, and much more.
How do medtech investors, CEOs manage portfolio companies going forward?
In Episode 10 of DeviceTalks Weekly, we talk with two successful starters of medtech companies about how they’re building and maintaining their medtech portfolios during this pandemic landscape. Our guests this week are Dr. Justin Klein, managing partner of Vensana Capital, and Duke Rohlen, chair of Ajax Health. Together, Klein and Rohlen have created, backed and sold […]
What medtech’s top CEOs are saying about COVID-19
The COVID-19 pandemic is drying up sales for many large medical device companies, but there’s hope for a recovery later this year. That’s the big message from medtech’s top CEOs as they issue financial predictions and engage in earnings calls with analysts. Governments around the world are calling on medical device companies to make the […]
Hologic granted second molecular COVID-19 test EUA
Hologic (NSDQ:HOLX) announced today that it received FDA emergency use authorization (EUA) for its Aptima SARS-CoV-2 assay for detecting COVID-19. Marlborough, Mass.-based Hologic’s Aptima test runs on its fully automated Panther system that provides initial results in approximately three hours, processing more than 1,000 coronavirus tests in 24 hours. Hologic said in a news release […]
Study: PPE shortages persist nationwide
Shortages of personal protective equipment continue to plague hospitals and healthcare facilities across the United States, according to a study published this week in The Lancet. The study reports on data collected by GetUsPPE, a volunteer organization connecting healthcare providers with supplies of PPE during the COVID-19 pandemic and was authored by academics and volunteers […]
RespiraWorks, ICS partner on inexpensive ventilator for developing countries
RespiraWorks. and Integrated Computer Solutions (ICS) announced a partnership to collaborate on the former’s open-source ventilator. San Francisco-based Respiraworks touts the medical-grade device as capable of being assembled for less than $500. The company designed the system for long-term vs. crisis use and for developing countries with the intent to source and manufacture locally, according […]
HHS announces $5 million award for COVID-19 research
The U.S. Health and Human Services Dept. announced today that it will offer a $5 million award this year to support research related to COVID-19. The new funding opportunity announcement (FOA) is set to support novel, high-impact studies evaluating the responsiveness of healthcare delivery systems, healthcare professionals and the overall U.S. healthcare system amid the […]
TransEnterix narrows losses in Q1, expects negative COVID-19 impact
TransEnterix (NYSE:TRXC) narrowed its losses during its first quarter amid a major strategy shift — but the COVID-19 pandemic is expected to have a negative impact on the robot-assisted surgery developer’s results. The Research Triangle Park, N.C.-based company said in a news release that it implemented fourth-quarter restructuring that reduced its workforce by approximately two-fifths prior […]
How AI could help health providers diagnose COVID-19
When it comes to diagnosing treating COVID-19, timeliness is imperative to avoid patient deaths. Several companies are developing artificial intelligence-based algorithms to help doctors analyze and diagnose COVID-19 in patients quickly. The coronavirus has affected more than 3.7 million people globally, with the U.S. experiencing the most COVID-19 cases at just over 1.2 million so […]
3M Health Care sales up 5% in April
3M (NYSE:MMM) today reported sales information from April revealing that the company’s health care revenue is up 5% amid the COVID-19 pandemic. St. Paul, Minn.-based 3M reported total sales for the month at $2.3 billion, dropping down 11% year-over-year. The company’s organic local-currency sales declined by 12%. The bump up in sales for the company’s health […]
SmileDirectClub sinks on missed Q1 projections
SmileDirectClub (NSDQ:SDC) shares plummetted today on first-quarter results that came in well short of the consensus forecast. The Nashville, Tenn.-based 3D-printed clear dental aligner maker posted losses of $107.4 million on sales of $183.9 million for the three months ended March 31, 2020, for a massive bottom-line slide from losses of $20.5 million last year despite […]