After weeks of flirting with the heights hit before COVID-19 ravaged the markets, medtech stocks finally topped the pre-pandemic high last week. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — spiked up to 93.11 points on Sep. 2, nearly a full point ahead of the pre-pandemic high of […]
Ventec Life Systems
HHS ends more ventilator contracts as national stockpile fills up
The U.S. Dept. of Health and Human Services (HHS) is reportedly terminating more ventilator contracts as the national stockpile is full. The Hill reported today that HHS is throwing out some of the contracts that totaled $3 billion as the U.S. government sought to supply as many ventilators as possible during the first surge of […]
Ventec, GM complete HHS ventilator contract
Ventec Life Systems and General Motors announced today that they completed their government contract to produce 30,000 ventilators. The two companies kicked off mass production of Ventec’s V+Pro critical care ventilator at GM’s Kokomo, Ind., plant in April, having received a $489.4 million contract from the U.S. Dept. of Health and Human Services to deliver […]
Report: Ventilators are piling up in government stockpiles
As the COVID-19 pandemic roars on, the government stockpile of once-in-demand ventilators has reportedly turned into a collection of unused devices. The Washington Post reports that, following the panic caused by an anticipated ventilator shortage and subsequent rush to add to the stockpile after President Trump invoked the Defense Production Act, the approach to treating COVID-19 […]
MedTech 100 roundup: Up-and-down week for industry
Medtech stocks highlighted the topsy-turvy nature of the market last week, but ultimately finished the seven days nearly unchanged. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.77 points at the end of last week (Aug. 14). Overall, medtech stocks saw a 0.13% increase from the […]
Ventec to take over ventilator production at GM plant
Ventec Life Systems and General Motors have delivered more than 20,000 ventilators they built together at a GM plant, and GM plans to turn over production to the medtech company once their federal contract is completed, Ventec announced this week. Production of Ventec’s V+Pro critical care ventilators at the Kokomo, Ind., GM plant began in […]
General Motors kicks off mass production of ventilators
General Motors today began mass production of the Ventec Life Systems V+Pro critical care ventilator at the automaker’s Kokomo, Ind. plant. GM and Ventec have a $489.4 million contract from the U.S. Department of Health and Human Services to deliver 6,132 ventilators to the Strategic National Stockpile by the end of June, with 30,000 shipped […]
Proper Group forms new unit to help GM, Ventec make ventilators
Proper Group recently announced that it is forming its PGM medical business unit to address medical supply challenges that have arisen from the COVID-19 pandemic. The Warren, Mich.-based company plans to develop and manufacture products and components for life-saving medical equipment. The company is currently a manufacturer of complex tooling and high-performance polymer products for […]
FDA grants emergency nod to ventilators from Medtronic, other companies
The FDA has granted four companies’ ventilators emergency use authorization this week to treat COVID-19 patients, as well as a fifth company’s anesthesia gas machine for use as a ventilator. Gaining the latest EUAs were machines by Medtronic (NYSE:MDT), Draeger, MEK-ICS, Ventec Life Systems, and startup CoLabs. One of those EUAs went to Medtronic’s Puritan Bennett […]
Trump orders GM to make ventilators
After a deal between General Motors and Ventec Life Systems to produce 80,000 ventilators briefly appeared halted, President Trump yesterday ordered GM to proceed under the Defense Production Act. A New York Times report earlier on Friday said the Federal Emergency Management Agency had paused the $1 billion plan, saying it needed time to determine […]
AdvaMed: Invoking Defense Production Act could hinder U.S. medtech imports
Forcing manufacturers to repurpose their production lines to make equipment to fight the coronavirus epidemic might actually hurt the U.S. supply of those items, the head of medtech trade group AdvaMed said today. AdvaMed officials have talked with U.S. secretary of Health and Human Services Alex Azar and FDA commissioner Dr. Stephen Hahn about medtech […]
