CLEVELAND – Monday featured a big announcement during the 2019 Medical Innovation Summit, with the Cleveland Clinic and American Well revealing that they are partnering to create a joint venture (JV) focused on telehealth. The venture, dubbed The Clinic for now, was conceived "in order to achieve our joint vision and our ambitions in how to revise the delivery of care and to be at the forefront of it," said Semih Sen, chief business development officer, Cleveland Clinic, as part of a keynote delivered by Roy Schoenberg, president and CEO of Boston-based American Well.
PERTH, Australia – Australia's Admedus Ltd. has sold its Cardiocel and Vascucel patch business to U.S-based LeMaitre Vascular for up to AU$36.2 million (US$24.5 million), to include an AU$22.8 million up-front cash payment.
Abbott Laboratories and Tandem Diabetes Care Inc. said Tuesday that they plan to develop and commercialize a line of integrated diabetes products based on Abbott's glucose sending technology and Tandem's insulin delivery systems. The collaboration comes as the U.S. FDA is encouraging medical device manufacturers to consider the ability to share and use information safely and effectively in the development and design of connected devices.
Mayo Clinic has entered a 10-year partnership with Google "to expand on the more than 200 projects already incorporating artificial intelligence (AI) and machine learning," Mayo Chief Medical Information Officer Steve Peters told BioWorld MedTech. The Rochester, Minn.-based health care organization expects Google's expertise in data science and search technology will help the clinic improve treatment and outcomes by developing machine learning models.
Angiodynamics Inc., of Latham, N.Y., is picking up Rehovot, Israel-based Eximo Medical Ltd. for $46 million up front and up to $20 million of contingent consideration related to certain technical and revenue milestones. Eximo offers laser atherectomy technology that is in a limited launch.
BOSTON – How are med-tech companies reacting to the findings of the EY Pulse of the Industry report 2019? Members of a panel examined this question this week during the Medtech Conference in Boston, while also offering their insight on where the industry is headed.
Baxter International Inc. has struck a definitive agreement to acquire Cheetah Medical Inc., a provider of noninvasive hemodynamic monitoring technologies. The Deerfield, Ill.-based company agreed to pay $190 million up front in cash, with the potential for an additional $40 million based on clinical and commercial milestones.
Stryker Corp., of Kalamazoo, Mich., is continuing its string of buys, this time scooping up Shirley, Mass.-based Mobius Imaging LLC, which focuses on point-of-care imaging technology, and its sister company, Cardan Robotics. In an all-cash transaction, Stryker will pay about $370 million up front and up to $130 million of contingent payments associated with development and commercial milestones.
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