As the COVID-19 pandemic roars on, the government stockpile of once-in-demand ventilators has reportedly turned into a collection of unused devices. The Washington Post reports that, following the panic caused by an anticipated ventilator shortage and subsequent rush to add to the stockpile after President Trump invoked the Defense Production Act, the approach to treating COVID-19 […]
Osprey Medical jumps 8% on news of CE Mark
Osprey Medical (ASX:OSP) announced that it received CE Mark approval in Europe for its DyeVert Power XT second-generation device. Upon yesterday’s announcement of the regulatory milestone, shares of OSP jumped up nearly 8.6%. However, today, they are trading down -5.3% at 4¢ per share in mid-afternoon trading. Approval allows Osprey to market and sell its DyeVert […]
MedTech 100 roundup: Industry hits another mid-pandemic high
Despite a minor regression week-over-week, the medtech industry’s stocks hit another milestone as the COVID-19 rebound remains in progress. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.01 points at the end of last week (July 31). Overall, medtech stocks saw a -0.3% increase from the […]
GE to distribute Osprey Medical DyeVert contrast minimization devices
GE Healthcare (NYSE:GE) announced that it will exclusively distribute the DyeVert portfolio for imaging technology developer Osprey Medical (ASX:OSP). Osprey’s DyeVert contrast minimization devices align with GE’s iodinated X-ray contrast media to offer a technology platform to address acute kidney injury (AKI) following interventional coronary angiograms in patients with chronic kidney disease (CKD), according to a news […]
GE drops on mixed bag Q2, healthcare sales down more than a fifth
General Electric (NYSE:GE) shares closed the day on the downturn after posting mixed second-quarter results compared to the consensus forecast. The Boston-based company posted losses of -$2.1 billion, or -27¢ per share, on sales of $17.8 billion for the three months ended June 30, 2020, for a bottom-line slide into the red on a sales […]
GE Healthcare launches chest X-ray AI to better spot COVID-19
Officials at GE Healthcare (NYSE:GE) think the company’s new Thoracic Care Suite — a collection of eight AI algorithms from Lunit Insight CXR — could help clinicians in the fight against COVID-19. The AI suite, launched today, quickly analyzes chest X-ray findings and flags abnormalities for radiologist review, according to GE. It can spot potential pneumonia […]
HHS to pay $336m to GE, Ford for ventilators
The U.S. Dept. of Health and Human Services (HHS) announced today that it awarded a new $336 million contract to General Electric (NYSE:GE), in partnership with Ford, for ventilator production under the Defense Production Act. Under the contract, GE and Ford are slated to produce 50,000 ventilators by July 13, following President Donald Trump’s April 2 […]
Hamilton Medical, Vyaire lead the way among 7 new ventilator contracts from HHS
Hamilton Medical, Vyaire and Zoll Medical by far had the largest ventilator contracts among seven new deals that the U.S. Department of Health and Human Services has announced. The contracts, announced yesterday evening and worth a total of $1.44 billion, come on top of previously announced deals with Royal Philips (NYSE:PHG), which is receiving $646.7 million, […]
U.S. ventilator manufacturing is rapidly expanding: Here’s how
Amid a shortage of life-saving ventilators due to the coronavirus pandemic, medical device companies are rapidly expanding production, trade group AdvaMed reported today. Respiratory device companies that belong to AdvaMed have boosted ventilators production to 2,000–3,000 per week — and expect to soon reach 5,000–7,000 ventilators per week. Last year, the same companies were making […]
GE closes $20b sale of BioPharma to Danaher
General Electric (NYSE:GE) announced that it completed the sale of its BioPharma business to Danaher (NYSE:DHR) for net proceeds totaling approximately $20 billion. Boston-based GE said in a news release that, under the agreeement, it received a total consideration worth $21.4 billion, with $21 billion in cash along with Danaher’s assumption of certain pension liabilities. After accounting for […]
Ford partners with GE Healthcare to make 50k ventilators in 100 days
Ford Motor Company this week said it will start producing 50,000 ventilators in 100 days at its Michigan plant, and 30,000 a month thereafter as needed. GE Healthcare is slated to provide clinical expertise to Ford and will license the ventilator design from Airon. GE Healthcare recommended the Airon design to Ford as the company […]
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