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.
Precede Biosciences Inc. emerged from stealth having raised $57 million in seed and series A financing to fund its genome-wide platform. The blood-based platform detects and provides critical insight into the biological activity of genes and pathways in diseased tissue to improve care and development of new therapeutics.
At its annual investor day at the American Society for Radiation Oncology meeting in San Diego, Accuray Inc. reported that its Tomo C radiation therapy system obtained approval from the Chinese National Medical Products Administration for the country’s type B market. The system will be made in China through the company’s joint venture, CNNC Accuray (Tianjin) Medical Technology Co. Ltd.
Neuroimmune modulation using vagus nerve stimulation (VNS) reduced Crohn’s disease symptoms and improved patient quality of life, a study published in the Journal of Crohn’s and Colitis found. The research by Setpoint Medical Corp. could provide a better option for patients with the autoimmune disorder than biologics, which often fail to work over time and can cause significant adverse effects.
Cordis Corp. covered its bets a bit as it closed the acquisition of M.A. Med Alliance SA (Medalliance) announced almost a year ago. While the total payment for the company could total $1.135 billion, it could take six years for the owners of privately held Medalliance to see most of the funds.
