Medtech stories we missed this week: July 21, 2017

From Second Sight’s South Korean market entry to Sanuwave’s Indonesian distribution deal, here are medtech stories we missed this week but thought were still worth mentioning. 1. Second Sight enters South Korea market Second Sight announced in a July 5 press release that it has entered the market in South Korea with the implantation of two

How Bigfoot Biomedical wants to disrupt diabetes care

Bigfoot Biomedical is a highly competitive player in medtech’s race to develop an artificial pancreas. The 50-person company has made rapid progress towards developing a smart, automated insulin delivery system since its beginnings in 2014. Just yesterday Bigfoot announced that it is partnering with Abbott, bringing together Abbott’s FreeStyle Libre glucose monitoring tech and Bigfoot’s insulin

CMS spikes Medicare Advantage data release at the last minute

Medicare Advantage, privately run health plans paid for by Medicare, have covered an increasing number of seniors and disabled people in recent years. More than 1/3 of the 58 million Medicare beneficiaries opt for these non-traditional plans. The government has been collecting data about the care delivered to these enrollees since 2012. Last year, it

LabConnect receives $24.5M in Series A funding

LabConnect announced that it has received a $24.5M Series A investment from ABS Capital Partners, Pablo Capital and BroadOak Capital. The funding will go toward growth initiatives like building out the technology platform, product and service enhancements and sales team expansions while also giving liquidity to early shareholders. John Stobo, a managing general partner at

How to grow your medical device business through its life cycle

While every medical device business founder daydreams of pre-revenue exits and unicorn valuations, it is imperative to plan for the long and unpredictable haul. Richard F. Mattern, Bass, Berry & Sims PLC Despite the starting point being nearly universal (founder sees a clinical need, a promising market opportunity and a path to regulatory approval or

Two Supreme Court decisions take a whack at patent holders

Landmark U.S. Supreme Court decisions signal an effort to shoot down patent trolls, but one expert says small business could get caught in the crosshairs. Recent Supreme Court decisions dealing with patents have some experts concerned that, rather than clarifying the rules and combating patent trolls, the rulings will instead weaken the rights of patent

Fujifilm receives authority to operate on government networks

Fujifilm Medical Systems has announced that its Synapse PACS medical imaging and information management system has officially received Authority to Operate (ATO) on Department of Defense (DoD) networks in the U.S. The ATO makes Fujifilm the first company with a networked medical system to gain Risk Management Framework-based ATO. “This particular ATO is an unprecedented

Primo Medical buys cleanroom assembly from NASP

Primo Medical Group announced that it has purchased the cleanroom assembly and packaging business from North American Sterilization and Packaging (Franklin, N.J.). The financial details of the deal were not immediately disclosed. “With this purchase, Primo Medical Group continues to show its leadership in the Medical Device OEM space. We are very excited about the

2 ways Baxter’s CEO is transforming the company

From improved corporate culture to less bureaucracy to internal innovation, CEO José Almeida has been priming Baxter for success since taking over a year and a half ago. The former CEO of Covidien, who led the company to it $50 billion merger with Medtronic in January 2015, jumped at the opportunity to lead Baxter. The

Is cryptocurrency crowdfunding the new hot fundraising strategy?

Healthcare cybersecurity startup Patientory recently announced that it raised $7.2 million over 3 days through cryptocurrency crowdfunding – a relatively new fundraising strategy. The crowdfunding drew in 1,728 contributors, who bought 70 million PTOY currency tokens between May 31 and June 3, according to a company news release. Atlanta-based Patientory floated the tokens on cryptocurrency exchanges including Bittrex, TokenMarket, HitBTC,

Daylight Medical sells disinfecting portfolio to Diversey Care

Daylight Medical announced that it has sold its UVC disinfection business to Sealed Air’s Diversey Care. The financial details of the deal were not disclosed. Included in the deal are Daylight Medical’s MoonBeam3 disinfection system, SKY 6Xi and 7Xi devices. The devices are designed to disinfect patient rooms, surfaces, non-critical equipment and devices. By using

Here is Boston Scientific’s plan to win in medtech

When it comes to Boston Scientific succeeding in the medical device industry, CEO Mike Mahoney says it is about “category leadership.” Health providers, especially in the U.S., are consolidating, so Boston Sci needs to persuade hospital system officials that their products are the best in particular areas. “Category leadership is everything. Hospitals – whether you’re in Korea

2 paths to success on the medtech fundraising trail

Funding a medical technology company isn’t a simple job: Modern medical devices require cutting-edge innovation, research and design to make it to market. And don’t even get started on regulatory and reimbursement challenges. The recession of the late 2000s, Affordable Care Act and changes to regulatory bodies and reimbursement requirements have changed the game for

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Spectrum Plastics Group: Why the merger took place

The M&A deal creating Spectrum Plastics Group is but the latest in a wave of consolidations taking place among medical device industry outsourcers. Mauricio Arellano, president of Spectrum’s medical division, thinks 2 trends are driving the consolidations: the need of OEMs to provide truly disruptive innovations to meet health providers needs for value-based care, and

5 officials running healthcare under Trump

President Donald Trump’s critics complain that the president has yet to make hundreds of appointments to midlevel positions. But at least with healthcare, we’re starting to get a clearer picture of who is in charge. Just on May 10, the U.S. Senate confirmed Dr. Scott Gottlieb as FDA commissioner. Here are 5 top officials shaping

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