Digital health funding hits a low

[Image from National Cancer Institute/Unsplash]Rock Health analysts say the third quarter of 2022 brought low funding numbers that raise questions about the condition of the digital health market.

The report tallies digital health funding at $2.2 billion across 125 deals in the third quarter. This represents the smallest funding quarter in the sector for all of 2022.

On top of that, it’s the lowest quarter by dollars raised in digital health since the fourth quarter of 2019 ($2.1 billion).  Overall funding took a freefall, dropping 48% between the second and third quarters.

Researcher Mihir Somaiya led the report with help from Adriana Krasniansky, Megan Zweig and Bill Evans. According to the researchers, 2022 year-to-date funding totals $12.6 billion across 458 deals. They now have doubts that the 2022 total can reach half of last year’s spoils of $29.2 billion.

There have been some big digital health deal announcements, though. Amazon m…

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What’s next for the medical device supply chain?

A host of medical device companies with manufacturing in Puerto Rico found their supply chains impacted by Hurricane Maria in 2017. It was a harbinger of what was to come. [Image is public domain]Recent hurricanes in Florida and Puerto Rico provide yet another reminder that the medical device supply chain remains vulnerable to climate change.

The COVID-19 pandemic presented its challenges. But as our sister Medical Design & Outsourcing site reported last year, expect superstorms, fires, droughts and other extreme events driven by climate change to continue to strain the supply chain.

Problems may even get worse.

Major medtech companies are taking steps to respond to the challenge. For example, Medtronic’s Supply Chain EVP Greg Smith overall has been driving changes with a team that is mostly new to the company. Medtronic has co-located over 100 Medtronic employees with top suppliers and worked directly with commodity and raw material suppliers, CE…

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Study supports SpineX neuromod system for treating children with cerebral palsy

[Image from SpineX]SpineX announced today that its first-in-human study backs the use of its proprietary non-surgical treatment for children with cerebral palsy (CP).

Los Angeles-based SpineX published the study in Nature Communications. Dr. Susan Hastings and Dr. V Reggie Edgerton led the study.

SCiP demonstrated unparalleled functional improvements with SCiP (spinal cord innovation in pediatrics) in children with CP. The study combined non-invasive spinal neuromodulation and activity-based neurorehabilitation therapy, SpineX said in a news release.

SpineX said SCiP delivery during physical therapy improved sensorimotor function in 16 of 16 children. This patient population included a wide range of ages and CP severity. The treatment holds breakthrough device designation from the FDA. The company plans to align with the agency for a proposed clinical trial for 2023. It plans to use the results to pursue FDA clearance for SCiP in the treatment of CP.

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Nevro wins FDA approval for manufacturing operations in Costa Rica

[Image courtesy of Google Maps]Nevro (NYSE:NVRO) announced that the FDA approved manufacturing operations in Costa Rica for the production of its spinal cord stimulation (SCS) systems.

Redwood City, Californa-based Nevro’s new facility sits in the Coyol Free Trade Zone in Alajuela, Costa Rica. It produces proprietary SCS systems that treat chronic pain, including the HFX product platform.

The facility represents the company’s first global manufacturing operation. Nevro said this ensures greater controls and efficiency while augmenting manufacturing nad supply chain partners.

“We are pleased that the FDA has approved our new global manufacturing operations in Costa Rica,” said D. Keith Grossman, chair, CEO and president of Nevro.  “As part of our growth plans moving forward, this manufacturing facility will support our pipeline of future products to ensure that we have the most efficient cost structure and flexible capacity, whi…

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FDA clears sacroiliac joint fixation system from Aurora Spine

Aurora Spine (OTCQB:ASAPF) announced that it received FDA 510(k) clearance for its SiLO TFX MIS sacroiliac joint fixation system.

In a news release, the company described SiLo TFX MIS as a patented and minimally invasive system.

Carlsbad, California-based Aurora Spine said it plans to disclose additional details regarding the system tomorrow, Oct. 6, 2022. This story may be updated.

 

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Avania Analytics Platform Bypasses Unstable Internet

No connection? No problem! A research team was looking to utilize a real-time EDC system inside ORs and ICUs with little to no internet access. It takes practical insight, a custom-designed database, and an innovative eCRF to build a seamless solution. It Takes Avania.

View the Case Study via the form below.

 

 

 

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Roche Diagnostics promotes from within to fill corner office

Roche (OTCQX:RHHBY) announced that it promoted Matt Sause to CEO of Roche Diagnostics.

Sause, 45, currently heads up Roche Diagnostics’ North America Region. His move to the corner office and to the company’s executive committee becomes effective Jan. 1, 2023.

The Basel, Switzerland-based company appointed current Roche Diagnostics CEO Thomas Schinecker to CEO, effective March 15, 2023.

“Matt Sause’s career at Roche has spanned twenty years in multiple countries across Asia, Latin America, Europe and North America in both the diagnostics and pharma divisions,” Schinecker said. “His combination of scientific knowledge with commercial experience makes him an excellent leader for the diagnostics division.”

The company’s board proposed the current CEO, Severin Schwan, as its new chair on March 14, 2023.

“Matt Sause has had an exceptional career with Roche and I am very pleased that we can once again internall…

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Halma acquires IZI Medical Products

Halma announced that it acquired medical consumable device maker IZI Medical Products for $153.5 million.

Maryland-based IZI develops devices used by interventional radiologists and surgeons across acute, hospital-based diagnostic and therapeutic procedures. Its three primary markets consist of image-guided surgery, interventional oncology and interventional spine procedures.

Among IZI’s offerings is the Quick-Core Auto Biopsy System for automatic biopsies. It also develops the Kiva vertebral compression fracture (VCF) treatment system.

“Our purpose is to improve patients’ lives with physician-led innovation,” said IZI CEO Greg Groenke. “This vision aligns to Halma’s when it comes to improving quality of care delivered by healthcare providers. Many physicians started using our technologies in medical school and have continued to do so throughout their careers. Joining the Halma group will take IZI Medical Products to the next level, add…

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Hiring Champagne Talent on a Beer Budget

Tips for Hiring Top Talent

You get what you pay for.

Isn’t that the truth?  Sure, we’ve all scored a deal here or there (like when your neighbor moves and offers you his nearly new Peleton for cheap), but by and large, haven’t we all learned this lesson the hard way at some point in our lives?  How about that sweet Honda Accord you got in college for such a good steal down at Fast Fred’s car lot (that you promptly discovered needed a new transmission)?

You really do get with you pay for.

How does all of this work when you’re hiring?  And what happens when you save money on the wrong hire, instead of spending money on the right hire?

A few significant things to note:

Your organization is poised to lose upwards of ½ a million dollars on the wrong hire Your team suffers morale & productivity losses that are even more costly Your reputation takes a nose dive

So how do you allocate resources to ensure you get the right hire, withou…

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Exactech taps Zimmer Biomet veteran as new CFO

New CFO Tony Collins. [Image from Exactech]Exactech announced today that it appointed industry veteran Tony Collins as its new chief financial officer.

Collins joins Gainesville, Florida-based Exactech from medical device and data startup Xenter, Inc. He also served as CFO there.

Before Xenter, Collins spent 11 years at orthopedic implant giant Zimmer Biomet. He most recently held the position of group chief financial officer at Zimmer Biomet. His responsibilities included strategic and financial planning, business development, accounting and internal controls for the company’s global business units.

“I am excited to welcome Tony to our executive team,” said Exactech CEO Jeff Binder. “His expertise, including his deep domain knowledge, will be very beneficial to our business as we drive profitable growth and capitalize on the critical investments we are making in innovative products and advanced technologies.”

Collins also spent time as VP of f…

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New Stryker interbody system uses 3D-printed material

The Monterey AL interbody system [Image courtesy of Stryker]Stryker (NYSE:SYK) today announced the launch of its Monterey AL interbody system for anterior lumbar interbody fusion.

The orthopedic device giant said the Monterey AL is the latest addition to its 3D-printed interbody device portfolio. Stryker has 20 years of experience creating porous materials using 3D printing. Its proprietary AMagine process uses additive manufacturing to create implants. Stryker in August announced the official opening of a 156,000-square-foot 3D printing facility in County Cork, Ireland, that will bring 600 jobs to the area.

Monterey AL includes both solid and porous structures. It uses Stryker’s proprietary Tritanium in-growth technology. Tritanium is a material that mimics cancellous bone to provide an environment favorable to bone regeneration and fusion. Stryker says it has new research data backing the material. According to the company, data showed that undifferentiated stem…

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Align Technology launches iTero-exocad Connector software

Align Technology (Nasdaq:ALGN) announced that it unveiled its latest iTero-exocad Connector software.

Tempe, Arizona-based Align designs its iTero-exocad Connector software for digital orthodontics and restorative dentistry. It integrates the iTero intraoral camera and NIRI images within the exocad DentalCAD 3.1 Rijeka software. The company introduced it yesterday at the exocad Insights 2022 event in Mallorca, Spain.

According to a news release, this integration supports the goal of a seamless, end-to-end workflow for doctors and lab technicians. It optimizes the design and fabrication of highly esthetic restorations, the company said. This allows dental professionals to visualize the internal and external structure of teeth.

Using the software, lab technicians can download files via the software. Then, they can design within the exocad DentalCAD platform in just one click.

“With the iTero scanner’s origins in restorative dentistry, this latest in…

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