In a lively discussion at the 40th annual J.P. Morgan Healthcare Conference, panelists from leading diagnostics companies debated the best way to screen for cancer – and whether diagnostic testing does more harm than good in some circumstances. Kevin Conroy, CEO of Exact Sciences Corp., noted that he expected liquid biopsies to have an “enormous impact on making earlier cancer detection a routine part of medical care” with his company currently developing a blood-based test for colon cancer as well as a multicancer test and one for minimal residual disease.
Intuitive Surgical Inc. benefited from keen interest in resuming surgeries during pandemic troughs and hospitals investing in its Da Vinci robotic system in preparation for a more endemic phase of COVID-19, Intuitive CEO Gary Guthart said in a presentation at the J.P. Morgan 40th Annual Healthcare Conference on Jan. 12. The company’s unaudited preliminary fourth quarter and full year 2021 results also showed strong growth in procedure volumes – 19% year-over-year compared to 2020 and 13% compared to 2019. Still, Intuitive reported that “during 2021, COVID-19 resurgences continued to impact Da Vinci procedure volumes. The impact of the COVID-19 pandemic on the company’s business has, and continues to, differ by geography and region.”
In a speech on Jan. 13, President Joe Biden revealed plans to purchase an additional 500 million at-home COVID-19 tests, bringing the total number the administration expects to provide for free to American households to 1 billion. In addition, Biden said the administration would distribute free “high quality masks.” On Wednesday, the administration said it would provide 5 million rapid COVID-19 tests and 5 million lab-based PCR tests to schools each month to support screening testing and test-to-stay programs.
Abbott Laboratories received FDA 510(k) clearance for the Ensite X EP system with Ensite omnipolar technology, the company’s cardiac mapping platform. The system, which is used to identify and treat abnormal heart rhythms such as atrial fibrillation, produces detailed three-dimensional maps of the heart to guide physicians performing ablation procedures.
A panel of leaders in women’s health at the 2022 edition of the J.P. Morgan Healthcare Conference addressed the challenges and benefits of digital health and new apps in enabling women to be the “chief medical officers” of their families’ health and to take the necessary steps to improve their own. The panel included moderator Lynne Chou O’Keefe, founder and managing partner of Define Ventures; Apple Inc.’s Vice President of Health Sumbul Ahmad Desai; Veronica Gillispie-Bell, assistant professor, Ochsner Health System; Found CEO Sarah Jones Simmer; Michelle Williams, dean of faculty at the Harvard T.H. Chan School of Public Health; and Tia Inc. CEO and co-founder Carolyn Witte.
Medtronic plc continued its aggressive acquisition strategy today with the announcement of an agreement to purchase Affera Inc. Medtronic Chairman and CEO Geoff Martha revealed in a presentation on Jan. 10 at the virtual edition of the J.P. Morgan Healthcare Conference that his company was paying $925 million for the cardiac mapping and navigation company. The total reflects $250 million in payments assuming Affera meets “contingent considerations.”
Owens & Minor Inc. (O&M) sent Apria Inc. shares out of the ballpark with the announcement of its acquisition of the at-home health care company for $1.45 billion in cash early this morning. Apria’s stock (NASDAQ:APR) closed Friday at $29.72, opened today at $37.16 and rose incrementally throughout the day to close at $37.48. O&M’s stock (NYSE:OMI) ended the week at $45.08; it ebbed sharply to $40.19 on the news before recovering to $45.35 at the end of the trading day.
Glaukos Corp. received a green light from the FDA for its Iprime device for the delivery of viscoelastic fluid during ophthalmic surgery, which could help the company to recover some of the revenue lost by cuts to reimbursement for its minimally invasive glaucoma surgery (MIGS) product, Istent. A launch date has not been announced.
Stryker Corp. reported that it signed a definitive merger agreement to acquire Vocera Communications Inc. for $2.97 billion in an all-cash transaction expected to close in the first quarter of this year. Vocera provides digital care and communication services, which Stryker said will designed to help hospitals connect caregivers and various data-generating medical devices such as wearables, paired beds, ambulation equipment, badges and alarms.
