This article has been updated with comments from the Medical Alley Association and the Massachusetts Medical Device Industry Council (MassMEDIC). Both houses of Congress have now passed the 2020 federal spending package, which includes a provision to permanently repeal the 2.3% medical device excise tax. The package of eight spending bills awaits the signature of […]
Medical device excise tax would reduce R&D spending, report says
The medical device excise tax will reduce research and development spending and impede innovation if reinstated in 2020, according to a report from Minnesota trade group Medical Alley Association. In the report, Medical Alley surveyed its members that will be affected by the return of the tax on Jan. 1, 2020. About 83% of survey […]
Medical Alley to collaborate with Accenture for Healthcare Transformation Initiative
The Medical Alley Association and Accenture (NYSE:ACN) announced today that they are collaborating to lead phase one of the Healthcare Transformation Initiative campaign in an effort to redefine the course of healthcare. HTI-MA is an initiative with the goal of bringing together healthcare leaders to define realities of today’s healthcare system, identify modes of collaboration for […]
Quarterly M&A is in the billions in Minnesota’s Medical Alley
Mergers and acquisitions neared $15 billion among Medical Alley Association members in the second quarter of 2019, the Minnesota trade group said today. About half of that was generated by one company — Minnetonka-based UnitedHealth Group (NYSE:UNH), which completed its long-awaited $4.3 billion acquisition of DaVita Healthcare (NYSE:DVA) in June. United also acquired two other companies in the […]
Tariffs on Mexico could hit medtech hard
The medical device industry is bracing for a potential multi-million-dollar fallout from a proposed tariff on all products coming into the United States from Mexico. The StarTribune of Minneapolis reports that the cost of these devices could skyrocket and that the effects would be widespread within the industry, costing tens of millions of dollars a […]
Best Buy wants to get mHealth into seniors’ homes: Here’s how
Want to get mHealth and other medical devices into seniors’ homes? Best Buy (NYSE:BBY) and its Geek Squad may be the way in the door. “For companies looking to bring healthcare interactions into the home, we could be a fairly useful partner,” Asheesh Saksena, president of Best Buy Health, told hundreds of medical device industry […]
Medical Alley companies beat Q1 investment total
A surge in first-quarter 2019 investments in Medical Alley Association member startups pushed them past their performance in the same quarter last year, according to the Minnesota-based trade group. Seven of the 10 largest raises of the quarter went to medical device companies, which propelled the sector to its best first quarter on record, nearly doubling the […]
Sterilization plant closures: Here’s why you need to care
The recent shutdown of a Sterigenics medical device sterilization plant in Willowbrook, Ill. has affected medtech giants such as Becton Dickinson (NYSE:BDX), Boston Scientific (NYSE:BSX), Medtronic (NYSE:MDT), Smith & Nephew (NYSE:SNN) and Stryker (NYSE:SYK), according to an FDA list of devices processed at the sterilization plant. Medium-sized and smaller firms, including Teleflex (NYSE:TFX), Arthrex and ArthroCare also had devices processed there. The Willowbrook plant sterilized 594 types of devices, including sutures, clamps, […]
The Danes are coming to Medical Alley
A delegation of Denmark’s medtech and health leaders is traveling to Minnesota’s Medical Alley next week to solidify a partnership with Denmark’s MedTech Bridge. MedTech Bridge is a nonprofit program established to expand the relationship between medical device and digital health companies in Denmark and the United States and to scale commercial-stage Danish medtech businesses in the U.S. […]
Minnesota’s medtech industry raised $90M in Q3 2018
Investments in Medical Alley medtech companies, which had dipped in recent years, have made a comeback, according to the Minnesota trade association. Device companies raised $90 million in the third quarter, pushing the year-to-date total to nearly $200 million raised by 33 companies. Q3’s largest raises in medtech included Urotronic ($26 million, including $20M in Series B funds), 4C Medical ($17 million), […]
3 ways HHS can help medtech innovators
The U.S. Department of Health and Human Services (HHS) is doing everything from sharing more data to cultivating entrepreneurial talent and engaging in partnerships in order to support medical device innovators, the department’s CTO Ed Simcox told than 100 industry insiders in the Twin Cities today. A major goal at HHS is to build an innovation-focused […]
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