In interviews with BioWorld, med-tech industry leaders in Israel noted upfront that a hasty exit mid-conversation could occur in response to sirens alerting to missile attacks. Despite constant disruption, most companies said they were determined to maintain business as close to usual as possible. Still, challenges abound, including the potential mandatory military activation of CEO and key personnel, ongoing attacks and potential disruption or diversion of critical resources. The tenor remains positive, however, with companies praising strong support from the venture capital community and other investors and partners worldwide and the benefits of operations in the U.S.
An artificial intelligence (AI) algorithm using voice technology developed by Klick Inc. could be a game changer for diagnosis of type 2 diabetes, helping to identify the 50% of individuals who unknowingly have the disease. The technology uses a six- to 10-second voice clip spoken into a smartphone plus basic health data to detect diabetes in close to nine out of 10 individuals, a study published in Mayo Clinic Proceedings: Digital Health found.
Johnson & Johnson will excise less profitable lines and markets within its Depuy Synthes orthopedics business over the next two years, management revealed in its quarterly investor call on Oct. 16. Paring its products and related pursuits could cost as much as $800 million by the end of 2025, J&J Chief Financial Officer Joe Wolk said.
Olink Holding AB likely has some euphoric investors following Thermo Fisher Scientific Inc.’s announcement of an agreement to acquire the proteomics company for $26 per share in cash. The price represents a premium of nearly 75% on its recent trading average and brings the deal’s value to a stunning $3.1 billion, with net cash of $143 million.
The largest strike by U.S. health care workers, in early Oct. 2022, brought increased attention to the seriousness of the staff shortage in hospitals and the urgent need to address it. Multiple reports over the last 10 years have documented the impact of alarm fatigue on nurses, in particular, and its contribution to professional burnout and ongoing staffing issues. A bit counterintuitively, more integrated, continuous monitoring of vital signs reduces alarm fatigue for medical staff attending to post-surgical patients, a study by GE Healthcare Technologies Inc. and Cleveland Clinic found.
No one is looking in the rearview mirror at Medtronic plc as a fresh U.S. FDA approval for the next generation version of its intrathecal drug delivery system allows the company to leave behind a spate of problems associated with its Sychromed II device. The device delivers medication directly to the fluid surrounding the spinal cord via a small catheter positioned to deposit the drug at the site of most severe pain. The targeted delivery improves management of chronic and cancer-related pain as well as management of severe spasticity without use of systemic opioids.
AOA Dx Inc. closed an oversubscribed $17 million seed round to expand the clinical trial for its ovarian cancer diagnostic test, build out new lab facilities and explore applications of its Glycolocate platform in other cancers. The platform uses tumor marker gangliosides to enable early cancer. A recent study demonstrated that the test had more than 90% sensitivity and specificity for ovarian cancer detection across all stages.
Responding to the burgeoning field of digital health, the U.S. FDA reported the creation of a new Digital Health Advisory Committee that it expects to be up and running in 2024.
Haemonetics Corp. returned to the M&A trail with an agreement to buy Opsens Inc., a cardiology-focused medical device company, for CA$2.90 (US$2.13) per share for a total of CA$345 million (US$253 million). The all-cash transaction, its third significant purchase in five years, is expected to close by late January 2024, pending the approval of regulators and 66.66% of voting shareholders. Haemonetics expects the deal to be immediately accretive to adjusted earnings per share (EPS).
Management teams beset by angry activist investors may take some solace in Ernst & Young (EY)’s latest Pulse of the Industry report, which confirms what med-tech executives have said for the better part of two years. A post-COVID-19 slump combined with inflation and other unfavorable capital conditions have slammed the global med-tech industry back to earth with little likelihood of a return to the halcyon days of 2021 any time soon.
