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NeuroMetrix is expanding its salesforce

NeuroMetrix (Nasdaq: NURO) second-quarter results took a hit from challenges related to reimbursement changes at CMS, but Quell Fibromyalgia saw positive trends.

The Woburn, Massachusetts–based company’s Quell neuromodulation device won FDA de novo nod to treat fibromyalgia in May 2022. The company had 123 unique prescribers for the fibromyalgia therapy in Q2, versus 92 in Q1.

A new sales force expansion has the company focusing on the Texas, California and Florida markets, according to NeuroMetrix.

Meanwhile, the University of Rochester School of Medicine and Dentistry recently reported results of an NIH-funded multi-center randomized sham-controlled trial of Quell for chemotherapy-induced peripheral neuropathy (CIPN). According to NeuroMetrix, people with moderate to severe CIPN symptoms of hot/burning pain, sharp/shooting pain or muscle cramping experienced about a 50% reduction in symptoms for active Quell treatment compared to about 30% for s…

FDA clears AI-powered ultrasound guidance tech from UltraSight

AI-powered ultrasound guidance software. [Image from the UltraSight website]UltraSight announced today that it received FDA clearance for its AI-powered ultrasound guidance technology.

Tel Aviv, Israel-based UltraSight designed its real-time AI guidance software to assist in the acquisition of cardiac ultrasound images. It can help medical professionals without sonography experience at the point of care in multiple settings. UltraSight says it allows for more widespread heart disease detection, providing patients with easier access to cardiac monitoring.

“The issues arising from the disproportion between the number of heart disease patients and availability of cardiac ultrasound was a key driver for the company’s founding team,” said Davidi Vortman, CEO of UltraSight. “The need to solve this significant disparity is why we applied deep geometrical machine-learning techniques to cardiac ultrasound, and what we found is that AI has the potent…

Asensus Surgical announces $10M offering

The Intelligent Surgical Unit powers the Senhance surgical robot system. [Image courtesy of Asensus Surgical]Asensus Surgical (NYSE:ASXC) announced today that it entered into a definitive agreement for the purchase and sale of $10 million in common stock.

Research Triangle Park, North Carolina-based Asensus’ offering includes just over 23.8 million shares of common stock. It also includes warrants to purchase the same amount of shares in a registered direct offering. H.C. Wainwright & Co. serves as the exclusive placement agent for the offering.

Asensus plans to sell the shares and accompanying warrants at a combined purchase price of 42¢ per share. The warrants have an exercise price of 42¢ per share. They come immediately exercisable and expire five years following the date of issuance. Asensus expects the offering to close on or about July 31, 2023, subject to customary closing conditions.

The company intends to use gross proceeds from its offe…

Philips inks in-house virtual care collaboration with CoxHealth

The Philips Capsule Surveillance system. [Image from Philips]Philips (NYSE: PHG) + announced today that it entered into a virtual care collaboration with CoxHealth.

CoxHealth, a U.S. not-for-profit healthcare provider, sought out Philips to implement virtual care through its hospital network. The company wanted a solution staffed entirely by its own employees that expanded beyond the intensive care unit. It also hoped for something that allowed nurses and physicians to move seamlessly between the bedside and virtual environments.

Along with the increased adoption of telehealth and virtual care during the COVID-19 pandemic, these aims led to a collaboration. CoxHealth wanted to work with Philips to go beyond an eICU program.

Together, the two created a solution based on the close integration of the Philips eCareManager enterprise health software and Philips Capsule Surveillance. Using AI and advanced clinical algori…

Baxter stock dips on mixed Q2 results, BPS divestiture uncertainty

Baxter (NYSE: BAX) + shares fell this morning on second-quarter results that came in mixed compared to the consensus forecast.

Shares of BAX fell 4.1% to $46.92 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose slightly.

The Deerfield, Illinois-based company recorded losses of $141 million. That amounts to 28¢ per share on sales of $3.7 billion for the three months ended June 30, 2023.

Baxter posted a bottom-line slide into the red on sales growth of 0.4%.

Adjusted to exclude one-time items, earnings per share came in at 66¢, landing 5¢ ahead of expectations on Wall Street. However, sales missed the analysts’ forecast for $3.8 billion.

Baxter attributed its sales performance, which topped its own guidance, to overall positive demand for its products. The company also cited ongoing reco…

Boston Scientific sales grow 11% in Street-beating Q2

Boston Scientific (NYSE: BSX) + shares ticked up this morning on second-quarter results that topped the consensus forecast.

Shares of BSX rose more than 1% at $53.12 apiece in morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up slightly.

The Marlborough, Massachusetts-based medtech company posted profits of $261 million for the quarter. That equals 18¢ per share on sales of $3.6 billion for the three months ended June 30, 2023.

Boston Scientific recorded a 6.1% bottom-line gain on sales growth of 10.9%.

Adjusted to exclude one-time items, earnings per share came in at 53¢. That landed 4¢ ahead of projections on Wall Street, where analysts expected sales of $3.5 billion.

Boston Scientific saw 12.2% revenue growth in its cardiovascular business and 9% growth in its medsurg segment. The company’s endos…

Fast Five: Teleflex makes a $600M acquisition, Abbott has a serious recall of its Amplatzer delivery sheath

Welcome to the MassDevice Fast Five medtech news podcast, the show that keeps you up-to-date on the latest breakthroughs in medical technology. Here’s what you need to know for today, July 27, 2023.

Fast Five by MassDevice · Teleflex makes a $600M acquisition, Abbott has a serious recall of its Amplatzer delivery sheath

LivaNova’s Q2 performance and increased 2023 guidance indicate the company’s ability to adapt to market challenges and capitalize on growth opportunities. The Fast Five hosts discuss the company’s financial performance, which segment had the greatest growth and what the CEO had to say about the quarterly earnings.

Olympus recently launched its EasySuite ES-IP system for procedure room visualization and integration in the U.S. Whooley explains some of the features and capabilities of the new system and the benefits of using the platform in medical procedures.

The positive results from the feasibility study of Gluc…

Visualizing automation’s influence on drug discovery careers

Today, the pharma sector, like many others, appears to be on the cusp of a transformation thanks to the influence of automation on drug discovery careers. Companies ranging from Insilico Medicine to Big Pharma firms like Janssen and Sanofi are putting AI at the heart of their operations. Many are increasingly recruiting workers from the tech sector.

Complex dynamics are at play amidst this shift. The integration of automation in the pharmaceutical industry is not simply a story of job loss and displacement. While 2023 will go down as notable year for layoffs in the sector, AI also promises to redefine existing jobs as create new ones as well.

An exploration of the influence of automation on drug discovery careers

To shed light on the varying susceptibility to automation of different job roles within the pharmaceutical industry, we created the stacked bar chart below that examines thirteen roles in the industry, each evaluated on fourteen different metrics that…

TAVR sales were up 9% for Edwards in Street-beating Q2

The Sapien 3 transcatheter heart valve (Image from Edwards Lifesciences)

Edwards Lifesciences (NYSE: EW) + shares fell after hours today despite second-quarter results that beat the consensus forecast.

Shares of EW dipped 6.3% to $85.85 apiece after the market closed today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day up 0.6%.

The Irvine, California-based company posted profits of $307.1 million. That equals 50¢ per share on sales of $1.53 billion for the three months ended June 30, 2023.

Edwards recorded a 24.4% bottom-line slide on sales growth of 11.4%.

Adjusted to exclude one-time items, earnings per share came in at 66¢. That snuck in 1¢ ahead of expectations on Wall Street, where analysts projected sales of $1.5 billion.

“We are pleased to report strong second quarter double-digit sales growth while a…

Align Technology stock soars after hours on Street-beating Q2

Align Technology (Nasdaq:ALGN) shares are on the rise after the market closed today following second-quarter results that beat the consensus forecast.

Shares of ALGN ticked up 11.2% to $378 apiece after hours today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the day up 0.6%.

The Tempe, Arizona-based dental technology maker posted profits of $111.8 million. That amounts to $1.46 per share on sales of just over $1 billion for the three months ended June 30, 2023.

Align Technology recorded a 27.3% bottom-line gain on sales growth of 6.3%.

Adjusted to exclude one-time items, earnings per share totaled $2.22, landing 19¢ ahead of analysts’ forecasts. Sales also beat expectations of $991.4 million.

The company’s Invisalign clear aligners drove sales for the quarter, rising 4.3% year-over-year to $832.7 million. Revenues for Align Technology’s imag…

Know Labs has more positive data for its non-invasive glucose monitor

The Gen 1 prototype device. [Image courtesy of Know Labs]Know Labs (NYSE:KNW) today announced results from a new study that further demonstrate the accuracy of its Bio-RFID sensor technology.

Last month, the company unveiled the prototype for its proprietary non-invasive sensor technology. Its proprietary Bio-RFID technology uses spectroscopy to direct electromagnetic energy through a substance or material. Through this, it can capture a unique molecular signature. The Know Labs technology integrates into wearable, mobile or bench-top form factors.

Seattle-based Know Labs’ study showed that continued algorithm refinement and more high-quality data improved the sensor’s accuracy.

Get the full story at our sister site, Drug Delivery Business News.

Boston Scientific plans $170M ‘Project Black Bear’ expansion

Boston Scientific (NYSE: BSX) + is planning an expansion outside Minneapolis for a new divisional headquarters campus.

The Marlborough, Massachusetts-based medical device manufacturer is working on the $170 million expansion with the Minneapolis suburb of Maple Grove and the Minnesota Department of Employment and Economic Development (DEED).

The project’s backers were using the code name “Black Bear” as an alias to hide the company’s identity, but Finance & Commerce published a report today confirming the medtech manufacturer’s involvement.

The publication said the new building would have room for its interventional cardiology, peripheral interventions, urology and Watchman divisions. When reached by MassDevice today, Boston Scientific would not say whether those four divisions would all be headquartered at the new facility and declined to answer other questions.

Boston S…