While 2020 did not go as planned for anyone, with the twists and turns came opportunities for medtech companies to power forward. Innovations came both as a result of the COVID-19 pandemic and perhaps in spite of the challenges brought on by the virus, highlighted by the increased efforts to produce vaccines and testing while […]
ResMed Inc.
Philips, Google, ResMed among companies joining digital therapeutics standards initiative
Major companies in the medtech space — including Philips, Google and ResMed — are among those joining the Consumer Technology Association’s new digital therapeutics standards initiative. “With the COVID-19 pandemic, we are seeing faster innovation across all aspects of digital health including digital therapeutics,” said Gary Shapiro, CEO of the CTA. “This field takes the […]
MedTech 100 roundup: Another high as stocks tick up
For the third consecutive week, stocks in the medtech industry reached heights not yet seen since the COVID-19 pandemic began. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.65 points at the end of last week (Aug. 7). Overall, medtech stocks saw a 0.72% increase from […]
ResMed beats Street with boost in ventilator sales
ResMed (NYSE:RMD) shares took a slight hit after hours despite on fourth-quarter results that beat the consensus forecast. The San Diego-based respiratory support device maker posted profits of $177.8 million, or $1.22 per share, on sales of $770.3 million for the three months ended June 30, 2020, for a more than 158% bottom-line gain on sales […]
ResMed launches remote ventilator monitoring in Europe
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 […]
