COVID-19 Update: The Latest MedTech Developments

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Last updated on: 01/06/2020

Technology Update

  • Masimo and Royal Philips announced that they have reinforced their partnership, whereby Philips will integrate additional Masimo measurement technologies into select IntelliVue® MX-series multi-parameter monitors, to help clinicians assess cerebral oximetry and ventilation status.
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Financial Update

  • Philips’ financial performance was shaky in the first quarter of 2020. There was an increased demand for Philip’s professional healthcare products and solutions, while at the same time, a significant decline in the demand for the Personal Health portfolio. For the Philips Group, this resulted in a 2% comparable sales decrease and an Adjusted EBITA margin of 6%.
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Technology Update

  • GE Healthcare announced FDA 510(k) clearance of AIR Recon DL. This technology, using a deep learning-based neural network, improves the patient experience through shorter scan times. AIR Recon DL, developed on GE Healthcare’s Edison intelligence platform, seamlessly integrates into the clinical workflow to generate images in real-time at the operator’s console.
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Financial Update

  • GE Healthcare is the second most affected unit by the COVID-19 crisis, after the company’s Aviation & GECAS business. As a response, GE is cutting costs at its healthcare unit by $700 million due to “expected near-term volatility and cost pressures from COVID-19.”
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Technology Update

  • Siemens Healthineers started shipping its total antibody tests globally, including to the largest analyzer installed base in the U.S.
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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 announced the release of the new portable ultrasound systems, ME series to enhance clinical confidence during critical and emergency COVID-19 cases. They are now available in Europe and other selected countries.
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Technology Update

  • Canon Medical Systems USA partners with Surfacide to offer Helios – a rapid decontamination tool for its imaging equipment.
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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

  • Per FDA guidance, Medtronic temporarily modifies several cardiopulmonary product indications for longer duration use in ECMO therapy to address COVID-19.
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Financial Update

  • Medtronic’s revenue dropped 26% in Q4 due to COVID-19. Of the company’s four divisions, the Cardiac and Vascular Group faced the biggest challenges with quarterly revenue falling 34%, reflecting a decline in deferrable procedure volumes and quarter-end customer bulk purchases.  
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Technology Update

  • Boston Scientific launches DIRECTSENSE™ technology – a tool for monitoring the effect of radiofrequency energy delivery during cardiac ablation procedures. It provides electrophysiologists with first-ever local measurement and visualization of tissue response to radiofrequency ablation. 
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Financial Update

  • Boston Scientific completes approximately $2.0 billion aggregate offerings of common stock and mandatory convertible preferred stock.
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