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MedTech 100 roundup: Industry climbs with earnings season in full swing

The medtech industry remains on the upswing as companies see their stocks rising with quarterly earnings providing a boost.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (July 30) at 118.86 points. Two weeks ago aside — when the index shot up to 145.88 points and quickly tumbled down — this mark would be the index’s all-time best.

The total at the end of last week represents a 2.9% rise from the 115.54-point tally posted by the index at the end of last week (July 23).

Medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry has registered a 28.7% increase from the pre-pandemic high of 92.32 (set on Feb. 19, 2020). Moreover, it remains well ahead of the mid-pandemic low of 62.13 (March 23, 2020) as well, totaling a 91.3% ascent above that point.

The industry’s performance had no cor…

GE beats The Street as healthcare segment thrives in Q2

GE (NYSE:GE) shares ticked up today on second-quarter results that beat the consensus forecast.

The Boston-based company’s healthcare segment posted profits of $801 million, registering a bottom-line gain of 58.3% year-over-year on sales of $4.5 million — a 14% increase on revenues from the previous year.

GE’s overall sales totaled $18.3 billion for the three months ended June 30, 2021, marking sales growth of 8.8%. Adjusted to exclude one-time items, earnings per share were 5¢, 1¢ ahead of Wall Street, where analysts were looking for sales of $18.1 billion.

“The GE team delivered strong overall performance in the second quarter,” GE chairman & CEO H. Lawrence Culp Jr. said in a news release. “Orders and revenue returned to growth, our operating margins expanded across all segments, and we generated positive Industrial free cash flow. Momentum is building across our businesses, driven by healthcare and services overall ……

GE turns to AI to boost MR for cancer therapy planning

GE Healthcare (NYSE:GE) recently announced that it has collaborated with Spectronic Medical to make AI-based software for more precise cancer treatment planning.

Spectronic Medical’s AI-based software can be used with GE Healthcare’s AIR Recon DL technology for MR-only based radiotherapy planning for better soft tissue differentiation than traditional CT.

Get the full story on our sister site, MassDevice.

Integra Lifesciences CEO steps down to succeed GE Healthcare CEO Murphy

Integra LifeSciences (NSDQ:IART) announced today that Peter Arduini will step down as CEO to accept a new role at GE Healthcare (NYSE:GE).

Princeton, N.J.-based Integra said in a news release that Arduini will step down at the end of 2021 to assume the role of president & CEO at GE Healthcare. Current president and CEO of GE Healthcare, Kieran P. Murphy, this week expressed his intention to retire, according to a separate release.

“It has been a privilege and honor to serve as Integra’s President and CEO since 2012 and to work alongside this talented and passionate team. Together, we have accomplished much, including global leadership in neurosurgery with some of the most recognized brands in plastic and reconstructive surgery, and an innovative pipeline to accelerate future growth,” Arduini said in Integra’s release. “I want to personally thank Stuart and the Board for their invaluable guidance and unwavering partnership over the years, as well as ou…

MedTech 100 roundup: Largest slide for industry in 2021

The medtech industry’s 2021 performance has been all over the place and the past weekend highlighted its topsy-turvy nature.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — had been on the rise since the beginning of April, with its mark of 112.25 on April 16 representing an all-time best, topping the previous high of 110.96 set on Feb. 15.

Just one week later, the index topped itself again, reaching 114.58 to end the week on April 23, marking an increase of 2.1% from the previous week.

After a -1.6% decrease over the week ending on April 30, there was little indication of in which direction the index would head next. The industry’s response to the slight dip was an even sharper downturn with a 4.49-point loss.

On May 6, the index finished the day at 108.21, representing a -4% slide from the previous week’s mark and a -5.6% fall from the high-point set the previous week. Th…

GE Healthcare aquires Zionexa and its FDA-approved PET imaging agent

GE Healthcare (NYSE:GE) announced today that it has acquired Zionexa and its molecular imaging agent that could enable more targeted treatment for metastatic breast cancer patients.

The financial terms of the deal were not disclosed.

Zionexa (Aubière, France) has had its FDA-approved PET imaging agent Cerianna on the U.S. market since December 2020, but it’s presently only available to a quarter of the tens of thousands of American women who have Stage 4 breast cancer. GE’s goal is to make Ceriannaaccessible to a minimum of three-quarters of patients by 2023.

“Like GE Healthcare, Zionexa’s products are aimed at enabling more precise diagnosis, improved treatment decision-making and ultimately better clinical outcomes for patients,” said Kevin O’Neill, president and CEO of GE Healthcare Pharmaceutical Diagnostics.

“This acquisition further demonstrates our commitment to enabling precision health and providing innovations tha…

How big medtech fared during a year of COVID-19

[Image from Unsplash]Despite numerous challenges, the medtech industry showed itself to be fairly recession-proof in 2020, according to a Medical Design & Outsourcing/MassDevice analysis of financials.

Annual reports recently released by 20 of the world’s largest medical device companies showed only a slight dip in revenue during 2020 — a year in which medtech held the front lines against the COVID-19 pandemic. Employment was also up slightly amongst the top earners, while R&D spending held its own.

The 20 companies included in the MDO analysis include 3M Healthcare, Abbott (medical device segment), Alcon, Align Technology, Baxter, Boston Scientific, Danaher (life sciences and diagnostics segment), Dentsply Sirona, Edwards Lifesciences, GE Healthcare, Henry Schein, Intuitive Surgical, Johnson & Johnson (medical device segment), Medline Industries, Owens & Minor, Royal Philips, Smith+Nephew, Stryker, Teleflex and Zimmer Biomet.

Get the full s…

GE Healthcare 2D/3D imaging system wins FDA nod

(Image courtesy of GE Healthcare)

GE Healthcare has announced FDA 510(k) clearance for a new surgical imaging system capable of 3D and 2D imaging.

OEC 3D offers interoperative 3D imaging with precise volumetric images for spine and orthopedic procedures, according to GE Healthcare. It combines the benefits and familiarity of 2D imaging with OEC C-arms, delivering a familiar user experience with the added benefit of quickly capturing a 3D scan, the company added.

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

J&J leader McEvoy lays out future for medtech giant; Stryker’s Murray talks 3Dprinting

J&J’s Ashley McEvoy talks COVID-19, Digital Surgery, Innovation and the future of Vision Care.

In this week’s DeviceTalks Weekly Podcast, the 50th of the series, Ashley McEvoy, Executive Vice President, Worldwide Chairman, Medical Devices, Johnson & Johnson, makes her DeviceTalks Weekly debut.

In this update, McEvoy delivers great insights on several areas of interest including:

COVID-19’s impact on J&J in the past, and what changes may remain in the future. J&J’s far-ranging digital surgery portfolio could bolster many of its specialties. How the company uses its innovation network to accelerate development Why she’s bullish on the future of eye care. How the company will prepare for future challenges.

We also talk with Naomi Murray, Director of Advanced Operations-Additive Technology at Stryker about her almost predestined path to join the orthopedics leader.

She’ll be leading the March 23 discuss…

GE Healthcare launches handheld ultrasound

Image from GE Healthcare

GE Healthcare (NYSE:GE) announced that it launched the Vscan Air wireless, pocket-sized ultrasound device.

Vscan Air is designed to offer clear image quality, whole-body scanning capabilities and an intuitive software platform delivered in a small handheld device, according to a news release.

The company debuted the first Vscan color pocket-sized ultrasound in 2010 and, to date, there are over 30,000 Vscan platform devices in the field, GE Healthcare said.

Vscan Air is touted by GE Healthcare as one of the smallest and most lightweight handheld ultrasound devices on the market while offering exceptional image quality and advanced visualization software.

Among the benefits of the Vscan Air is the capability to complete both shallow and deep exams through a flip of the two-sided probe design, removing the need to switch probes in between or during clinical exams. Additionally, the user-tested software design presets for fast…

GE Healthcare sells breast imaging assets to SmartBreast

GE Healthcare’s Discovery NM750b molecular breast scanner [Image from GE Healthcare]SmartBreast today announced that it has acquired GE Healthcare’s molecular breast imaging assets for an undisclosed amount.

The Pittsburgh-based company acquired the Discovery NM750b and other MBI scanner designs, manufacturing tools, instructions and related patents and installed-base service business as part of the deal.

SmartBreast will begin to market and distribute the Discovery NM750b and rebrand it as Eve Clear Scan e750.

“GE Healthcare’s MBI system has developed a positive reputation for helping physicians with the detection of cancer lesions in dense breast tissue,” Erez Levy, GM of nuclear medicine at GE Healthcare, said in a news release. “We are proud of this system’s legacy and will continue to support its mission with our world-class Cadmium Zinc Telluride (CZT) detectors for SmartBreast’s use in the MBI system.&#…

GE ticks up on mixed-bag Q4

General Electric (NYSE:GE) shares ticked up today on fourth-quarter results that were mixed compared the consensus forecast.

The Boston-based company posted profits of $2.6 billion, or 27¢ per share, on sales of $21.9 billion for the three months ended Dec. 31, 2020, more than tripling its bottom line despite a sales decline of -16.4%.

Adjusted to exclude one-time items, earnings per share were 8¢, 1¢ behind Wall Street, where analysts were looking for sales of $21.8 billion.

GE Healthcare brought in nearly $5 million in revenues, marking a -15% decline attributed largely to the sale of its biopharma arm to Danaher in the spring of 2020. The segment’s profits of $949 million were down -17% from $1.1 billion last year.

The company said in a news release that its revenues were up 6% organically thanks to growth in its life care solutions business with the delivery of Carescape R860 ventilators during the COVID-19 pandemic, as well as imaging a…