Boston Scientific Archives - Page 17 of 19

DTW Podcast: Truist’s Kaila Krum says Medtronic prepping for growth

In an interview with DeviceTalks Weekly Podcast, Truist Securities managing director Kaila Krum says Medtronic executives are retooling the company to keep pace with smaller, more focused competitors.

Breaking down the company’s Q1 call, Krum says Medtronic is seen as a company that’s too big to grow market share quickly. On the call, new CEO Geoff Martha emphasized gaining market share at one point telling investors the company would “go big or go home.”

Krum says Medtronic will pour resources into several critical areas to drive growth including soft tissue robotics, diabetes, and renal denervation.

“At a time when a lot of companies right now are forced to pull back on spending, Medtronic has been in a position where it can flex its balance sheet,” Krum said. “So they’ve been talking about investing in the pipeline, investing in structural, operational and cultural changes. I think all of that combined should support their growth goals over the …

The top 5 MassDevice stories of the week — August 28, 2020

As earnings season concludes and the COVID-19 pandemic roars on, medtech companies continue to find new ways to make waves.

This week’s top five MassDevice stories showcase how companies are operating in the “new normal,” as they look toward the post-pandemic future, whenever that may arrive. Strong quarterly earnings, big funding rounds and new innovations in COVID-19 treatment comprise some of this week’s list.

Want to hear more about the week’s top news? Executive editor Chris Newmarker and Tom Salemi will discuss during our DeviceTalks Weekly podcast. Without further ado, here’s this week’s MassDevice Top Five:

5. Medtronic’s recovery ‘faster than expected’ during Q1

Medtronic (NYSE:MDT) shares ticked up after the medtech giant came in well ahead of Wall Street projections for both earnings and revenues while posting profits of $491 million. Read the full story.

4. FDA clears Pelvital pelvic floor device

Pelvital announ…

Boston Scientific, Abbott listed among best workplaces for innovators

Boston Scientific (NYSE:BSX) and Abbott (NYSE:ABT) were among the top companies listed in Fast Company’s “Best Workplaces for Innovators” in 2020.

Marlborough, Mass.-based Boston Scientific placed fifth on the list of 100, while Abbott Park, Ill.-based Abbott came in at No. 12. The two were the only companies listed from the medtech industry, while healthcare analytics company Aetion was included at No. 10 and a number of pharmaceutical companies featured as well.

Over 850 companies applied across more than 24 countries around the world for a slot in the innovative workplace rankings, according to the outlet.

Fast Company said in its synopsis on Boston Scientific that the company launched 87 new products last year, including its EXALT Model D Single-Use Duodenoscope designed for use in endoscopic retrograde cholangiopancreatography procedures, which became the first single-use duodenoscope on the market.

Abbott was described by t…

Medtech and COVID-19: 7 things you need to know

[Photo by Sasha • Stories on Unsplash]

When COVID-19 set upon the U.S. in March, medtech executives only had a month at most to explain to analysts in quarterly calls how the pandemic was hitting their companies — not nearly enough time to understand the long-term impact.

Three more months have passed since those quarterly calls, and we’re now wrapping up a new earnings season. While no one can be 100% sure what the future will hold, medtech executives’ comments — and their companies’ actions — are shedding some light on changes coming to the medtech industry.

Here are seven insights we’ve gleaned at Medical Design & Outsourcing and MassDevice from the latest medtech earnings season.

Next>> Listen to us discuss all 10 points during our latest DeviceTalks Weekly podcast>>

Executive editor Chris Newmarker contributed to this report.

DTW Podcast: 10 ways medtech is finding its footing amid COVID-19

When COVID-19 set upon the U.S. in March, medtech executives had a month at most to tell Wall Street analysts how the pandemic had hit the industry’s largest companies. We heard about short-term hits in revenues, procedures and employee headcounts, but uncertainty clearly ruled the day.

Over the past few weeks, medtech executives from several leading companies reported back to analysts with a full quarter under their belt. To be sure, no one can claim to hold a full grasp on this crisis, but a survey of the calls reveals steps and adjustments that companies are taking to thrive beyond the pandemic.

In this podcast, we’ll list our Top 10.

Don’t miss an episode! Subscribe to DeviceTalks Weekly on your podcast players. It’s available on Apple Podcasts, Spotify and other podcast channels.

DeviceTalks by MassDevice · Ten ways medtech companies are finding their footing during the pandemic

MedTech 100 roundup: Industry hits another mid-pandemic high

Despite a minor regression week-over-week, the medtech industry’s stocks hit another milestone as the COVID-19 rebound remains in progress.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.01 points at the end of last week (July 31). Overall, medtech stocks saw a -0.3% increase from the 89.29-point total at the same time a week prior (July 24).

On July 30, the index reached 90.37 points, marking its highest point since that pre-pandemic high, with the previous mid-pandemic high (90.11) coming last week.

The most recent high mark represents just a -2.1% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.

Meanwhile, the S&P 500 Index saw a 1.7% increase from July 24 to July 31, and the Dow Jones Index posted a -0.2% drop over the same period of time.

Medtech’s lowest point during the COVID-19 pandemic remains at …

DTW: What in the world will Thrive Earlier Detection do with $257 million?

In this week’s podcast, two executives from Thrive Earlier Detection explain how the “turbo-charged” diagnostics company intends to upend how, when and where cancer is diagnosed.

Dr. Isaac Kinde, co-founder and head of research and innovation, walks us through the company’s CancerSEEK test and how the company is marrying new technology with an innovative clinical approach. Meanwhile, CFO Isaac Ro, tells host Tom Salemi how the company closed on $257 million (hint: lots of Zoom) and why he left a career on Wall Street to join this innovative start-up.

Chris Newmarker, executive editor of life sciences at MassDevice, also counts down on the biggest newsmakers in this week’s MassDevice.

Don’t miss an episode! Subscribe to DeviceTalks Weekly on your podcast players. It’s available on Apple Podcasts, Spotify and other podcast channels.

DeviceTalks by MassDevice · What in the world will Thrive Earlier Detection do with $257 million?

Hospital traffic continues to moderately decline, Jeffries reports

[Image from Unsplash]

Market researcher Jefferies reports that hospital traffic in the U.S. remains on a moderate decline over the past four weeks through July 26.

Seeking to inform the recovery in medical procedures after the COVID-19 pandemic caused the delay or deferral of them over the past five months or so, Jefferies is observing 3,300 U.S. hospitals on a weekly basis, according to its analysis.

As of July 26, the analysts had the hospital traffic index at 58.7, slightly down from the previous week’s total of 59.1. Currently, hospital traffic is down 15.2% from late June.

The index had hit its most recent high of 69.2 on June 28, but that further illustrates a decline from the beginning of the pandemic in March, when the index sat around 90 points. In the months prior to that, the index remained around the 100-point mark.

In recent earnings reports, various …

Boston Scientific rises on Street-beating Q2

Boston Scientific (NYSE:BSX) shares rose today on second-quarter results that topped the consensus forecast.

The Marlborough, Mass.-based company posted losses of $147 million, or -11¢ per share, on sales of $2 billion for the three months ended June 30, 2020, seeing its bottom line slide from $154 million in profits into the red on a sales decline of 23.9%.

Adjusted to exclude one-time items, earnings per share were 8¢, 10¢ ahead of Wall Street, where analysts were looking for sales of $1.73 billion.

Thanks in large part to the COVID-19 pandemic and deferred elective procedures, the company reported a 29.6% decline in medical surgery sales, a 33.2% drop in rhythm and neuro sales and an 18.7% dip in cardiovascular sales.

“We remain focused on the safety of our team, our customers and the patients they serve, and were pleased to see the business recovering over the course of the quarter,” Boston Scientific chairman & CEO Mike Mahone…

DTWeekly Podcast: Can Drawbridge, Edwards bring disruptive innovation to blood drawing, heart surgery industries?

In this week’s podcast, we talk with Holly Logue, general counsel at Drawbridge Health, about the OneDraw, an innovative new tool that might upend the collecting, storage and testing of blood. Logue, a panelist in the upcoming DeviceTalks Tuesdays sponsored by Finnegan, will explain how her past work on Capitol Hill is helping this Silicon Valley company’s plans.

Meanwhile, we speak with Daveen Chopra, corporate vice president of surgical structural heart at Edwards Lifesciences, about that company’s commitment to treating the most serious cardiac patients. The company recently won FDA approval for its Konect Resilia aortic valve conduit, a vital new tool in helping heart patients, including many requiring emergency story.

Co-costs Tom Salemi, editorial director of DeviceTalks, and Chris Newmarker, executive editor of life sciences at MassDevice, review the five biggest news stories of the week. We’ll talk about Abbott, Becton Dickinson, Boston Scientific…

The 18 most innovative medical devices of 2020

The Galien Foundation recently announced nominees for most innovative medical devices for its 14th Annual Prix Galien USA Awards.

The foundation bestows the Prix Galien Award annually to examples of outstanding biomedical and technology products that are designed to improve the human condition.

“As we celebrate 50 years of the Prix Galien process, we are honored to announce this year’s Prix Galien USA nominees, which represent the determination and passion for change that serves as the driving force of life-changing innovation,” said Sue Desmond-Hellmann, chair of the Prix Galien USA and Prix Galien International Committees, in a news release. “The awards committee applauds the nominees for their commitment to ensure a healthier future for generations to come.”

Get the full story on our sister site, Medical Design & Outsourcing.

The top 5 medtech stories of the week — July 24, 2020

COVID-19 is surging back in the U.S., new jobless claims are up, but MassDevice’s most-read stories this week were mostly optimistic.

That’s the takeaway from our inaugural MassDevice Top Five — a weekly recap of the most-read stories on MassDevice, the online business journal of the medical device industry. Want to hear more about the week’s top news? Executive editor Chris Newmarker and Tom Salemi will discuss during our DeviceTalks Weekly podcast.

Without further ado, here’s this week’s MassDevice Top Five:

5. Better than expected results from Edwards Lifesciences

Officials at Edwards Lifesciences (NYSE:EW) had warned that it was going to be a tough Q2 amid the COVID-19 pandemic. Sure enough, it was. But the Irvine, Calif.–based artificial heart valves and hemodynamic monitoring company results still beat Wall Street expectations — with the company even upping its earnings guidance for the year. “Irrespective of the unpre…