Insulet Archives - Page 9 of 9 - Medical Design Sourcing

DTW Podcast: CEO Petrovic explains how Insulet is switching people to `Pods

Insulet CEO Shacey Petrovic says she didn’t jump immediately at the chance to join the company.

In an interview with the DeviceTalks Weekly Podcast, Petrovic, who was serving as CEO of a women’s health company when CEO-Patrick Sullivan, her former boss at Cytyc, called her with an offer to serve as Insulet’s chief commercial officer

“I said, `Well, Pat, I’m a CEO now, you know, didn’t you hear?,” she joked.

A chief commercial officer role might be seen as a backward step from CEO, but Sullivan framed the question differently. He told Petrovic that he came out of retirement to take the CEO role and didn’t want to a long stint as CEO. “He said, `This could be your opportunity to eventually run a public company. If it goes well, I need a successor, the technology is remarkable, and together we can fix this problem.’”

A path the CEO role at a publicly traded company was certainly appealing. But Petrovic had more personal reason for the jo…

Insulet rises on Street-beating Q4 revenues

Insulet (NSDQ:PODD) shares rose before the market opened today on fourth-quarter results that beat the consensus revenue forecast.

The Acton, Mass.-based wearable insulin delivery system developer posted losses of -$17.1 million, or -26¢ per share, on sales of $246.1 million for the three months ended Dec. 31, 2020, for a bottom-line slide into the red on sales growth of 17.5%.

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

MedTech 100 roundup: Another high as stocks tick up

For the third consecutive week, stocks in the medtech industry reached heights not yet seen since the COVID-19 pandemic began.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.65 points at the end of last week (Aug. 7). Overall, medtech stocks saw a 0.72% increase from the 89.01-point total at the same time a week prior (July 31).

On Aug. 5, the index reached 90.45 points, marking its highest point since that pre-pandemic high, with the previous mid-pandemic high (90.37) coming last week.

The most recent high mark represents just a -2% 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 2.5% increase from July 31 to Aug. 7, and the Dow Jones Index fared even better, positng a 3.8% rise over the same period of time.

Medtech’s lowest point during the COVID-19 pandemic remains at 62.13…

Insulet up on Street-beating Q2, raised guidance

Insulet (NSDQ:PODD) shares ticked up today on second-quarter results that topped the consensus forecast.

The Acton, Mass.-based wearable insulin delivery system developer posted profits of $14.4 million, or 22¢ per share, on sales of $226.3 million for the three months ended June 30, 2020, for a bottom-line gain of nearly ten times as much as last year’s second-quarter profits on sales growth of 27.8%.

Adjusted to exclude one-time items, earnings per share were also 22¢, coming in well ahead of the Wall Street projections of $0.00 per share. Revenues beat the analysts’ projections by 6.8%.

The company noted a large impact from the COVID-19 pandemic on its gross margin, highlighting a 63% decline because of the related safety and mitigation costs.

“Thanks to our team’s relentless focus on our mission and the strength and durability of our recurring revenue model, we delivered another quarter of financial and operational results th…

Insulet installs thousands of solar panels at global HQ

Insulet (NSDQ:PODD) announced today that its corporate headquarters and manufacturing facility will be powered by solar-based, renewable energy.

The Acton, Mass.-based facility is set to turn to the new energy source, beginning this week. The company covered its 58,000 square-foot manufacturing facility with approximately 2,800 solar panels to, during optimal climate conditions, generate enough energy to fully support the corporate headquarters and manufacturing facility.

Get the full story at our sister site, MassDevice.

Insulet installs thousands of solar panels at global HQ

This aerial view shows Insulet’s global headquarters (left) and U.S. manufacturing facility (right) in Acton, Mass. [Image courtesy of Insulet]

Insulet (NSDQ:PODD) announced today that its corporate headquarters and manufacturing facility will be powered by solar-based, renewable energy.

The Acton, Mass.-based facility is set to turn to the new energy source, beginning this week. The company covered its 58,000 square-foot manufacturing facility with approximately 2,800 solar panels to, during optimal climate conditions, generate enough energy to fully support the corporate headquarters and manufacturing facility.

Insulet began the installation of the solar panels in January and received approval for turning on the system from the town of Acton earlier this week, according to a news release.

The wearable insulin delivery system developer’s installation has an energy capacity of 900 kilow…

Insulet installs thousands of solar panels at global HQ

This aerial view shows Insulet’s global headquarters (left) and U.S. manufacturing facility (right) in Acton, Mass. [Image courtesy of Insulet]

Insulet (NSDQ:PODD) announced today that its corporate headquarters and manufacturing facility will be powered by solar-based, renewable energy.

The Acton, Mass.-based facility is set to turn to the new energy source, beginning this week. The company covered its 58,000 square-foot manufacturing facility with approximately 2,800 solar panels to, during optimal climate conditions, generate enough energy to fully support the corporate headquarters and manufacturing facility.

Insulet began the installation of the solar panels in January and received approval for turning on the system from the town of Acton earlier this week, according to a news release.

The wearable insulin delivery system developer’s installation has an energy capacity of 900 kilow…

Insulet resumes next-gen Omnipod pivotal study following software issues

Insulet (NSDQ:PODD) today said it has resumed its pivotal study of its next-generation Omnipod Insulin Management System after pausing the study in March due to a software anomaly.

The company paused the study about halfway through completion to correct an issue that could result in the system using an incorrect glucose value that had the potential to impact insulin delivery, according to the company. No adverse events it had been reported due to the software issue.

Get the full story on our sister site, MassDevice.

Insulet resumes Omnipod pivotal study following software issues

Insulet (NSDQ:PODD) today said it has resumed its pivotal study of its Omnipod Insulin Management System after pausing the study in March due to a software anomaly.

The company paused the study about halfway through completion to correct an issue that could result in the system using an incorrect glucose value that had the potential to impact insulin delivery, according to the company. No adverse events it had been reported due to the software issue.

“We are thrilled to continue our trial,” senior VP and medical director Trang Ly said in a news release. “We have encouraging data from our clinical work to date and overwhelmingly positive feedback from participants and investigators. We are excited about what our next-generation Omnipod, Powered by Horizon, will offer people living with diabetes.”

The U.S. Dept. of Homeland Security also issued a medical advisory to warn of vulnerabilities of the Omnipod insulin management system in…