Medtronic (NYSE:MDT), GE Healthcare (NYSE:GE) and Change Healthcare have received approximately $33.1 million (NIS 120 million) from the Israeli government to support expanding the companies R&D centers in the country, according to a CTech report. The grants are part of a six year, $264 million (NIS 922 million) program headed by the Israeli Ministry of Economy and […]
Here are the top 5 medtech stories of mid-2018
A growing U.S. trade war with China and other countries casts a pall on medtech — and U.S. business in general — in mid-2018. The landscape of the medical device industry continues to evolve, though. There’s a major corporate spinout in the works, as well as a mega-merger that apparently was not to be. Read […]
NinePoint Medical lifts Namati to the corner office | Personnel Moves – July 10, 2018
NinePoint Medical said earlier this month that it appointed Eman Namati as its new president and chief executive officer, succeeding Christopher von Jako who will remain on the company’s board of directors. Namati joined NinePoint Medical at its inception in 2010 as a technical co-founder, and operated as R&D VP for the past four years, […]
Trump’s tariffs on $34B of Chinese products kick in
Tariffs imposed by President Donald Trump on $34 billion of Chinese goods, including a slew of medical devices, went into effect on Friday. China immediately retaliated, kicking off tariffs of equal size for American goods. Trump said this week that his administration will implement tariffs for another $16 billion worth of Chinese goods in the […]
General Electric to spin out GE Healthcare
General Electric (NYSE:GE) said today that it plans to spin out its GE Healthcare subsidiary as a stand-alone, publicly traded entity to focus on its aviation, power and renewable energy businesses. The Boston-based industrial conglomerate also said it’s planning an “orderly separation” from its 62.5% stake in BHGE oil and gas servicing and equipment unit over the next […]
US medtech companies lobby against proposed Chinese tariffs
US medtech firms, including GE Healthcare (NYSE:GE) and the thriving Minnesota-based medtech sector, are concerned that tariffs on Chinese products proposed by President Trump could significantly affect their business, according to two reports released this week. GE Healthcare executives are worried that the tariffs could hurt the competitiveness of its products, including its magnetic-resonance imaging units which […]
Aegea Medical picks up former Cardiokinetix, Concentric Medical CEO Sainz | Personnel Moves – May 14, 2018
Aegea Medical said last week it tapped former Cardiokinetix prez & CEO Maria Sainz as its new president and chief executive officer, effective immediately. Sainz will replace former CEO Don Gurskis, who has held the corner office since 2013. Gurskis will remain on as member of the Redwood City, Calif.-based company’s executive management team. “Maria is […]
GE Healthcare’s sales, profits up in Q1
GE Healthcare (NYSE:GE) posted gains to its top and bottom lines during the first quarter, as its corporate parent topped Wall Street’s earnings forecast despite lower-than-expected sales. Little Chalfont, U.K.-based GE Healthcare posted profits of $735 million for the three months ended March 31, up 11.2% compared with Q1 2017, on sales growth of 9.2% to […]
PE firm Veritas gets $850m for GE value-based healthcare biz acquisition
Private equity firm Veritas Capital has arranged for $850 million in leveraged loans to back its $1.05 billion acquisition of GE Healthcare’s (NYSE:GE) value-based healthcare business, according to a Reuters report. The newly found financing includes a $75 million five-year revolving credit facility, a $600 million seven-year secured term loan with a first priority claim […]
GE sells value-based healthcare division for $1B
General Electric (NYSE:GE) said today it is selling its value-based healthcare division to private equity investment firm Veritas Capital in a $1.05 billion cash deal. Through the deal, GE will divest itself of the enterprise financial management, ambulatory care management and workforce management divisions that make up its value-based healthcare business, the company said. “We’re confident this […]
GE division wins $20m US DoD patient monitoring contract
General Electric (NYSE:GE) division Datex Ohmeda won a $19.9 million modification to an existing contract to supply the US Department of Defense with patient monitoring systems, subsystems, accessories, consumables and training, according to a DoD release posted yesterday. The fixed-price, economic-price-adjustment contract is on the ninth one-year option extension of an initial one-year base contract, with services […]
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