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 […]
Hillrom sinks despite Street-beating Q3 results
Hillrom (NYSE:HRC) shares took a hard hit today despite third-quarter results that came in ahead of the consensus forecast. Shares of HRC were down -14.4% at $99.06 per share in mid-morning trading today. The Chicago-based company posted profits of $93.9 million, or $1.40 per share, on sales of $767.5 million for the three months ended June […]
Hillrom launches two new respiratory health systems
Hillrom today said it has launched two new respiratory health innovations, the Volara System for oscillation and lung expansion therapy and the Synclara Cough System. “As part of our vision of Advancing Connected Care, we want to make it easy for patients to leave the hospital with the technologies they need to get better faster,” […]
Hillrom launches remote vital signs monitoring system
Hillrom (NYSE:HRC) announced today that it launched its Hillrom extended care s0lution for vital signs monitoring and shifting care closer to home. Chicago-based Hillrom’s monitoring device ensures caregiver access to data-driven information with the Welch Allyn 4400 all-in-one vital signs platform that includes a patient app and clinician review portal, according to a news release. The […]
Hillrom secures EUA for use of MetaNeb system with coronavirus patients
Hillrom (NYSE:HRC) announced today that it received FDA emergency use authorization (EUA) for its MetaNeb system to help COVID-19 patients. Chicago-based Hillrom designed MetaNeb to combine lung expansion, secretion clearance and aerosol delivery into a single therapy session available for use with any ventilator. MetaNeb includes a closed-circuit design with a bacterial-viral filter to protect patients […]
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, […]
Trump uses DPA to boost supplies to certain ventilator manufacturers
President Donald Trump yesterday invoked the Defense Production Act to reduce supply-chain problems for certain manufacturers to produce ventilators. In the executive order, the president gave the secretaries of the departments of Health & Human Services and Homeland Security the power to secure materials for General Electric (NYSE:GE), Hillrom (NYSE:HRC) , Medtronic (NYSE:MDT), ResMed (NYSE:RMD), Philips (NYSE:PHG) and Vyaire Medical. Ventilator […]
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 […]
How will coronavirus affect medtech companies that rely on elective surgeries?
One thing is likely to hurt some medtech companies more than others during the coronavirus pandemic: an elective surgical procedure slowdown. This thought had begun to emerge last week among industry watchers, but a pair of tweets over the weekend gained thousands of “likes” and retweets. The American College of Surgeons called for hospitals to […]
Hillrom shares slide despite topping Street forecast
Hillrom (NYSE:HRC) shares dipped today on first-quarter results that fell short of last year’s numbers but still topped the consensus forecast. The Chicago-based company posted profits of $39.8 million, or 59¢ per share, on sales of $685 million for the three months ended Dec. 31, 2019, for a 5.7% bottom-line slide on sales growth of 0.15%. […]
Hillrom tops estimates with fiscal Q4, 2019 numbers
Hillrom (NYSE:HRC) today posted fiscal fourth-quarter and full-year numbers that beat the consensus forecast all around. The Chicago-based medical products giant reported profits of $27.9 million, or 41¢ per share, on sales of $782.8 million for the three months ended Sept. 30, for a -69.1% bottom-line slide on sales growth of 3.1%. Adjusted to exclude […]
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