Amid a shortage of life-saving ventilators amid 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 only […]
Software is enabling medical 3D printing innovation: Here’s how
The 3D printers themselves get a lot of attention, but for 3D-printing to become ubiquitous in the medtech space, software will have to play a key role. A 3D printer without software to tell it where to place the material is a really nice, expensive coffee table, according to Scott Rader, a former Stratasys GM […]
Philips issues device correction for HeartStart
Royal Philips (NYSE:PHG) issued a medical device correction in Europe last month to warn users of internal damage suffered by its HeartStart MRx monitor/defibrillators. The Amsterdam-based company said in the notice that it received reports of HeartStart MRx devices that suffered internal damage and could not deliver therapy after they were dropped or subjected to a […]
Royal Philips prices €1b offering
Royal Philips (NYSE:PHG) announced that it completed the pricing of a €1 billion ($1.1 billion) offering worth two sets of €500 million in fixed-rate notes due five years apart. The offering includes €500 million in fixed-rate notes due in 2025 and another set of €500 million fixed-rate notes due in 2030. The issue price for the […]
Elon Musk says he delivered more than 1,000 ventilators to U.S.
Tesla co-founder & CEO Elon Musk confirmed on Twitter that he orchestrated the delivery of more than 1,000 ventilators to the U.S. California Governor Gavin Newsom initially announced last night that Musk delivered 1,000 ventilators to the state. After some back-and-forth discussion on the social media platform regarding where Musk got the devices, the entrepreneur […]
5 companies on the front lines of the coronavirus fight
Nancy Crotti, Managing Editor and Danielle Kirsh, Senior Editor Amid the stock market roller-coaster ride that began last month, medtech companies that make devices and diagnostic tests vital to fighting COVID-19 may ultimately fare better than others, but it’s hard to tell until the virus peaks and people get back to work. At midafternoon today, […]
How are U.S.-based ventilator companies doing?
The U.S. is one of many countries facing new restrictions, quarantines and, due to high demand, shortages of important medical equipment to help combat the coronavirus pandemic. As hospitals and healthcare facilities report the need for more equipment, and with the government potentially invoking a statute that could ramp up protective equipment manufacturing even more, […]
7 ways the coronavirus is affecting medtech
Medtech companies face some tough times as the deadly coronavirus pandemic gains steam. But could this be the medical device industry’s Dunkirk, too? Just days ago, MassMEDIC president Brian Johnson made a call-out on LinkedIn for people to send ideas about how Massachusetts medical device companies could help fight COVID-19. He drew an analogy to […]
Philips touts new cybersecurity testing certification
Royal Philips (NYSE:PHG) announced today that it became the first medical device manufacturer to receive a new Underwriters Laboratories (UL) product cybersecurity testing certification. UL designed the UL IEC 62304 certification to provide a framework to evaluate the robustness and maturity of a medical device manufacturer’s cybersecurity controls and capabilities in product development, according to a […]
Philips signs 8-year partnership with Paracelsus Clinics
Royal Philips (NYSE:PHG) and Paracelsus Clinics announced today that they entered into an eight-year strategic partnership to continue modernizing Paracelsus Clinics’ medical imaging systems. Switzerland-based Paracelsus Clinics intends to work with Philips on imaging system availability and equipment operation while strengthening efficiency and increasing quality, according to a news release. Paracelsus Clinics head of the procurement […]
These medical device companies provide the most research payments
The worlds largest medical device companies are spending tens of millions of dollars a year on research payments to doctors and teaching hospitals — but the payments only make up a tiny fraction of their budgets. That was a big takeaway from an analysis of Medical Design & Outsourcing‘s annual Big 100 and the most […]
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