Medtech stocks rebounded from a significant dip earlier in June last week, continuing to highlight the topsy-turvy nature of the markets during the COVID-19 pandemic. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 85.00 points at the end of last week (June 19). That total represents […]
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Medtronic, Foxconn aim to make 10,000 ventilators
Medtronic (NYSE:MDT) and Foxconn said today they will boost ventilator production to 10,000 over the next year at Foxconn’s Wisconsin plant. The companies announced in April that Foxconn would begin production of Medtronic’s Puritan Bennett 560 ventilators at the plant in Mount Pleasant, Wis., with a goal of 400 ventilators per week by the end of April and 700 per […]
FDA grants emergency nod to ventilators from Medtronic, other companies
The FDA has granted four companies’ ventilators emergency use authorization this week to treat COVID-19 patients, as well as a fifth company’s anesthesia gas machine for use as a ventilator. Gaining the latest EUAs were machines by Medtronic (NYSE:MDT), Draeger, MEK-ICS, Ventec Life Systems, and startup CoLabs. One of those EUAs went to Medtronic’s Puritan Bennett […]
Foxconn to produce Medtronic ventilators in new Wisconsin plant
Medtronic (NYSE:MDT) CEO Omar Ishrak said yesterday that the medtech giant is partnering with Foxconn Technology Group to manufacture ventilators at Taiwan-based Foxconn’s plant in Wisconsin to treat the sickest COVID-19 patients. In an interview with CNBC, Ishrak said he didn’t know how many ventilators the deal will produce, but said production will begin in the […]
Nanox Imaging raises $26m
Nanox Imaging announced today that it secured $26 million in funding in support of the development, commercialization and deployment of its Nanox System for early detection of medical conditions. With participation from strategic investor Foxconn, along with Fujifilm (TSE:4901), SK Telecom and other private investors, Neve Ilan, Israel-based Nanox said its total funding is now at […]
Wisconsin biotech industry optimistic about state’s Foxconn win
Wisconsin’s biotech industry sees opportunity in Taiwanese electronics giant Foxconn’s decision to spend $10 billion on a 3,000-employee plant in the state’s southeast. That’s because the 8K liquid crystal display (LCD) screens made at the new Foxconn campus could enable new medical solutions for surgical procedures, according to BioForward Wisconsin. “BioForward and Wisconsin’s biohealth community welcomes […]
