COVID-19 Update: The Latest MedTech Developments

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Last updated on: 12/10/2020

Technology Update

  • Philips and LeQuest announced their partnership to provide online interactive training in ultrasound.
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Financial Update

  • Philips released its financial results for the second quarter of 2020. The company expects to return to growth and improved profitability for the Group in the second half of the year.
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Technology Update

  • GE Healthcare unveiled Voluson SWIFT, an AI-enhanced women’s health ultrasound with industry-first auto recognition tools.
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Financial Update

Technology Update

  • Siemens Healthineers debuted its new fluoroscopy system, the Luminos Lotus Max. The system offers industry-leading technology in radiography and fluoroscopy.
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Financial Update

  • Despite the ongoing crisis Siemens Healthineers “has performed well in the second quarter” according to the company’s CEO. There is a strong revenue performance in Imaging with 5.8% comparable growth and Advanced Therapies with 5.7% increase.
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Technology Update

  • Mindray Medical has released its new generation infusion system, BeneFusion n Series.
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Technology Update

  • University of California, San Diego Health is the first facility in the U.S. to install Canon Medical’s 3T MRI system with AI-based reconstruction technology.
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Financial Update

  • Although sales of equipment related to the testing of pneumonia and other infections increased for Canon Medical Systems, overall sales and profit declined. Little progress was made in installing large systems due to the limited access to medical institutions as a result of the COVID-19 crisis.
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Technology Update

  • Medtronic announced the US launch of Adaptix™ Interbody System, the first navigated titanium implant with Titan nanoLOCK™ Surface Technology.
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Financial Update

  • Medtronic announced a $337 million product investment from Blackstone Life Sciences to expand development of future diabetes technologies.
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Technology Update

  • Boston Scientific announced the European launch of the WaveWriter Alpha™ portfolio of Spinal Cord Stimulator (SCS) Systems.
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Financial Update

  • Boston Scientific announced its financial results for the second quarter of 2020. The management was pleased to see the business recovering over the course of the quarter. Until the end of the year, the company is relying on its strong pipeline of differentiated products.
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Technology Update

  • Zimmer Biomet announced new features of mymobility® with Apple Watch, creating a first-of-its-kind remote care management system.
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Financial Update

  • Zimmer Biomet reported net sales for the second quarter of $1.226 billion, a decrease of 38.3% from the prior year period. However, according to Bryan Hanson, President and CEO of Zimmer Biomet the company is encouraged by its “operational performance and the stronger than expected recovery of elective procedures.”
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Technology Update

  • Thermo Fisher Scientific further expands its laboratory plastics consumables production to support significant global demand for COVID-19 testing, as well as development and manufacturing of therapies and vaccines.
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Financial Update

  • “An extraordinary quarter” for Thermo Fisher according to Marc N. Casper, chairman, president and chief executive officer of the company, when commenting the second quarter 2020 financial results.
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