Medtech layoffs are picking up as 2024 draws to a close. Sean Whooley, Associate Editor, and Chris Newmarker, Editor-in-Chief The medical device industry is closing out the year with a fresh round of layoffs. At this point, MassDevice has reported on more than 22,000 medtech job cuts across the industry since mid-2022. (Have a tip […]
Illumina
European Commission says Illumina can move forward with Grail divestiture
Illumina (Nasdaq:ILMN) announced today that it received approval of its plan to divest Grail from the European Commission (EC). In September 2020, Illumina announced an agreement to acquire Grail, a DNA sequencing and array-based tech developer. Grail itself was a startup that initially spun out from the company in 2016. Illumina completed the acquisition in August […]
Illumina CFO departs, replacement named along with chief strategy officer
Illumina (Nasdaq:ILMN) announced that it appointed Ankur Dhingra as CFO following the departure of Joydeep Goswami. The company also announced the appointment of Jakob Wedel as chief strategy and corporate development officer. Its c-suite continues to undergo a makeover following the appointment of a new CEO last year amid its long-running battle to acquire Grail. Goswami, […]
The top IVD and diabetes tech stories of 2023
Over the course of 2023, the medtech industry produced another impressive year of innovation, with news coming from a variety of spaces. Chiefly among those were diabetes technologies and in vitro diagnostics (IVDs). We saw regulatory nods, product launches, funds raised and mergers fall apart. Looking at those two spaces in particular, here are five […]
Illumina will divest Grail after court backs FTC ruling
Illumina (Nasdaq:ILMN) announced that it plans to divest Grail after a drawn-out legal battle over the $7.1 billion acquisition. In September 2020, Illumina announced an agreement to acquire Grail, a DNA sequencing and array-based tech developer. Grail itself was a startup that initially spun out from the company in 2016. Illumina completed the acquisition in […]
EU orders Illumina to divest Grail after ‘unlawful’ merger
The European Commission today announced it has ordered Illumina (Nasdaq: ILMN) — the DNA sequencing and array-based tech developer — to unwind and divest its Grail acquisition. The decision follows the commission’s decision to prohibit the transaction in September 2022 over concerns the merger would be anticompetitive and “stifle” innovation in the market. Despite the […]
Illumina picks a new CEO amid SEC investigation
Illumina (Nasdaq: ILMN) — the DNA sequencing and array-based tech developer — has tapped an Agilent Technologies executive as its new CEO as it seeks to move beyond regulatory scrutiny of its acquisition of Grail. Jacob Thaysen, an Agilent Technologies SVP and president of its Life Sciences and Applied Markets Group, takes over Illumina’s corner […]
The biggest medtech personnel moves so far in 2023
More than halfway through 2023, we’ve seen plenty of movement in the personnel department across medtech. Last July, we broke down the biggest personnel moves in medtech so far in 2022. That was followed up by the full-year report in December. Through more than eight months, the changes atop medtech companies continue to arrive. Some […]
Illumina says SEC is investigating Grail acquisition
Add a U.S. Securities and Exchange Commission investigation to the list of problems that Illumina has faced since it acquired Grail for $8 billion in 2021. Illumina disclosed the investigation in its 10-Q filed with the SEC on Aug. 10: “In July 2023, we were informed that the staff of the SEC was conducting an […]
EU hits Illumina with $478M fine over Grail deal
The European Commission announced today that it issued significant fines to Illumina (Nasdaq:ILMN) and Grail as a result of their proposed merger. European authorities fined Illumina approximately $478.9 million (€432 million) and Grail $1,108 (€1,000). They claim the companies implemented their proposed merger before approval by the Commission. Such actions breach European Union merger control […]
Illumina’s CEO resigns, MacMillan expresses confidence
Illumina Inc. (NASDAQ: ILMN) announced that CEO Francis deSouza has resigned from the DNA sequencing and array-based tech developer. The news, announced yesterday, comes more than a week after Hologic CEO Stephen MacMillan became non-executive board chair. Edwards Lifesciences CFO Scott Ullem filled a second new seat, bringing the board seat total to 12. Illumina […]
