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Hillrom beats The Street in Q1, raises 2021 guidance

Hillrom (NYSE:HRC) shares ticked up today on Street-beating first-quarter results and a raised 2021 guidance.

The Chicago-based company posted profits of $58 million, or 88¢ per share, on sales of $741.1 million for the three months ended Dec. 31, 2020, for a 47.7% bottom-line gain on sales growth of 8.2%.

Adjusted to exclude one-time items, earnings per share were $1.53, 48¢ ahead of Wall Street, while the company topped analysts’ revenue estimates by 13.2%.

Each of Hillrom’s three business segments (patient support, front-line care and surgical solutions) produced better-than-expected results with accelerated recovery and expanded demand for critical care products amid the COVID-19 pandemic.

The company noted in a news release that one-time COVID-19 revenue reached about $40 million, registering COVID-19-related EPS of 20¢ per share.

“Hillrom’s strong start to fiscal 2021 underscores our significant transformation …

EarlySense sells contact-free monitoring system to Hillrom

EarlySense today said it has sold its contact-free continuous monitoring technology to Hillrom.

Through the deal, EarlySense will receive licensing for all intellectual property and technology sold to Hillrom and $30 million in cash with potential payments based on certain commercial milestone achievements. EarlySense will also receive a portion of Hillrom’s equity investment in the company.

“We set out to save lives and improve care by implementing AI-based contact-free patient monitoring in healthcare facilities across the globe,” EarlySense CEO Matt Johnson said in a news release. “We made great progress by becoming the standard of care in Hillrom’s flagship Centrella Smart+ hospital bed. Our technology has already monitored more than one million patients and helped clinicians save tens of thousands of lives, and we expect to accelerate this significant impact as a result of this technology sale to Hillrom.”

EarlySe…

MedTech 100 roundup: Another peak for the industry

Medtech has been on the rise in 2021 and the past week saw that trend continue, as the industry hit yet another all-time best mark.

MassDevice‘s MedTech 100 index reached 107.4 points on Jan. 20, topping the all-time best of 106.81 points set on Jan. 8. That mark represents a 16% jump from the pre-pandemic high of 92.32 set on Feb. 19, 2020, and a 72.9% overall leap from the lowest point of 62.13 set on March 23, 2020.

Here are some of the best-performing medtech stocks from 2020.

The high point could not be sustained, but the industry stayed strong, finishing at 106.4 to end the week on Jan. 22. Medtech’s finish to last week was enough to top the previous seven days, coming in 0.6% ahead of the 105.8-point mark set on Jan. 15.

While medtech saw slight growth from the previous week, one of the overall markets saw a larger jump, with the S&P 500 Index rising 1.9%. The Dow Jones Industrial Average fared identically to medtech, rising 0.6%.

Hillrom to buy Bardy Diagnostics for $375M

Hillrom (NYSE:HRC) has agreed to spend $375 million to acquire Bardy Diagnostics and its Carnation Ambulatory Monitor, or CAM patch.

Analysts at Baird described the CAM patch as a long-term Holter wearable biosensor. Hillrom said in a news release out today that the BardyDx purchase complements Hillrom’s present cardiology portfolio of cardiac stress exercise, Holter and resting electrocardiography devices.

“This acquisition provides Hillrom with a highly strategic and differentiated diagnostic cardiology platform aligned with our vision of advancing connected care, as well as an attractive recurring, high-growth revenue stream and gross margin profile,” said Hillrom CEO John Groetelaars. “BardyDx brings a talented team with significant commercial, clinical and scientific expertise, and dedicated independent diagnostic testing facilities. We look forward to welcoming the 230 employees who will join us in our mission of enhancing outcomes…

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 …

Hillrom sinks despite Street-beating Q3 results

Hillrom (NYSE:HRC) shares took a hard hit today despite third-quarter results that came in ahead of the consensus forecast.

Shares of HRC were down -14.4% at $99.06 per share in mid-morning trading today.

The Chicago-based company posted profits of $93.9 million, or $1.40 per share, on sales of $767.5 million for the three months ended June 30, 2020, for a nearly tripled bottom-line gain on sales growth of 5%.

Adjusted to exclude one-time items, earnings per share were $1.95, 49¢ ahead of Wall Street, where analysts were looking for sales of $749.4 million.

Hillrom said in a news release that accelerated demand for critical care products in response to the COVID-19 pandemic contributed to strong third-quarter revenues and profits, with its acquisition of Breathe Technologies helping to contribute more than $100 million for COVID-19-related purchases.

“I’d like to acknowledge the dedication and contributions of the entire Hillrom…

Hillrom launches two new respiratory health systems

Hillrom today said it has launched two new respiratory health innovations, the Volara System for oscillation and lung expansion therapy and the Synclara Cough System.

“As part of our vision of Advancing Connected Care, we want to make it easy for patients to leave the hospital with the technologies they need to get better faster,” president and CEO John Groetelaars said in a news release. “Our new Volara System is proven to reduce hospital length of stay and time on a ventilator by delivering effective OLE therapy, and the Synclara Cough System, which delivers mechanical insufflation and exsufflation, helps keep upper airways clear. We’re delighted to introduce these practical, accessible innovations to patients and their caregivers.”

The Volara System delivers lung expansion therapy by combining continuous positive expiratory pressure, continuous high frequency oscillation and a nebulizer in one portable, lightweight device. The t…

Hillrom launches remote vital signs monitoring system

Hillrom (NYSE:HRC) announced today that it launched its Hillrom extended care s0lution for vital signs monitoring and shifting care closer to home.

Chicago-based Hillrom’s monitoring device ensures caregiver access to data-driven information with the Welch Allyn 4400 all-in-one vital signs platform that includes a patient app and clinician review portal, according to a news release.

The Welch Allyn Spot Vital Signs 4400 device takes vital signs, including temperature, Sp02, blood pressure and pulse, then connects to the Hillrom Connex app to relay patient data securely through the phone at the push of a button. Clinicians are also able to log into the portal to review data and make care decisions.

Hillrom’s Welch Allyn Spot Vital Signs 4400 and the related Connex app and Connex portal are now commercially available in the U.S.

“With this technology, recovering and at-risk patients, including those with COVID-19, can feel confiden…