ResMed (NYSE:RMD) announced today an accelerated launch of cloud-based remote monitoring software for ventilators and Lumis bilevel devices across Europe. The San Diego–based maker of respiratory support devices has been among a host of ventilator makers rushing to meet demand amid the COVID-19 pandemic. But the company noted that there are also many other people who […]
MedTech 100 roundup: Stocks take a slight dip to end April
Medtech stocks remain in a stronger position than they were at the low point of the COVID-19-induced economic crisis, but they took a small dip over the last week. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 80.62 points at the end of last week […]
ResMed up on revenues boosted by ventilator sales
ResMed (NYSE:RMD) shares ticked up today on third-quarter results that topped the consensus forecast with COVID-19-influenced demand for ventilators. The San Diego-based company posted profits of $163.1 million, or $1.12 per share, on sales of $769.5 million for the three months ended March 31, 2020, for a 54.7% bottom-line gain on sales growth of 16.2%. Adjusted […]
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, […]
AdvaMed touts use of noninvasive ventilators to treat COVID-19
AdvaMed is promoting clinical evidence that it says reveals the benefits of non-invasive ventilators for use in less severe cases of COVID-19-related respiratory issues. A series of white papers, published evidence and case studies from China and Italy concluded that coronavirus patients with respiratory distress less severe than other cases could receive treatment with the […]
Elon Musk criticized for donating sleep apnea ventilators
Tesla co-founder & CEO Elon Musk is receiving criticism after the more than 1,000 ventilators he donated for COVID-19 relief were reportedly not the specific kind for use in intensive care units. According to a report in the Financial Times, among the 1,255 donated FDA-approved ventilators from ResMed (NYSE:RMD), Philips (NYSE:PHG) and Medtronic (NYSE:MDT) that were part […]
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 […]
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 […]
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 […]
ResMed ventilators recall is Class I
FDA today designated a ResMed (NYSE:RMD) recall of certain Stellar non-invasive and invasive ventilators as Class I — the agency’s most serious level. The sound alarm on the ventilators may not work if the device has a failed electronic part, is stored without AC power for more than 36 hours, and powers on automatically when connected […]
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