Vietnam’s Vingroup to supply ventilator parts to Medtronic

Vingroup will produce core components for Medtronic’s Puritan Bennett 560 ventilator [Image courtesy of Medtronic]

When Medtronic (NYSE:MDT) announced in April that it had tapped Foxconn to manufacture ventilators at the Chinese company’s Wisconsin plant, then-Medtronic CEO Omar Ishrak said that Medtronic is also working with “major players” in Asia to expedite ventilator production.

This week, Vietnam’s largest conglomerate, Vingroup, announced that it had inked a deal for two of its companies — VinSmart and VinFast Manufacturing and Trading — to supply 50,000 ventilator parts to Fridley, Minn.-based Medtronic in the U.S. and Ireland over the next year. The deal went into effect in June, Vingroup said in a statement this week.

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

 

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Hyderabad to become Medtronic’s largest R&D center outside of U.S.

Medtronic (NYSE:MDT) is reportedly set to make its Hyderabad, India research & development center into its second-largest research hub across the world.

According to a report in Business Today, Medtronic committed an investment of Rs 1,200 crore (approximately $1.6 billion) to fund the expansion within five years. The company’s VP of the Indian Subcontinent, Madan Krishnan, told Business Today that the “Medtronic Engineering & Innovation Center (MEIC) will be the largest global R&D center outside of the U.S.”

The R&D center will reportedly grow in numbers from the current total of 350 employees to approximately 1,000, with the center set to provide software and engineering services across cardiac, neuro, renal and minimally invasive surgery segments for the company.

Discussions between Medtronic and the state government of Telangana have been ongoing over the last two years regarding the investment, according to Krishnan…

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CMS proposes coverage updates that could increase access to VADs

Abbott’s HeartMate 3 LVAD [Image courtesy of Abbott]

The Centers for Medicare & Medicaid Services (CMS) today proposed coverage policy updates meant to increase access to VADs and artificial hearts.

The policy updates, if approved, could be good news for major VAD makers Abbott (NYSE:ABT)  and Medtronic (NYSE:MDT) — as well as people with heart failure who are waiting for a heart transplant or don’t meet the criteria for one.

“CMS’ proposed revisions to its national coverage determination (NCD) for ventricular assist devices are very promising for people living with advanced heart failure. Providing patients with greater access to this technology is important as heart pumps can have a critical impact on saving and improving quality of life. We look forward to CMS’ final decision in the months ahead,” Dr. Robert L. Kormos, divisional VP of global medical affairs for Heart Failur…

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Medtronic to acquire Companion Medical, expands diabetes business

Medtronic (NYSE:MDT) today said it would acquire insulin pen manufacturer Companion Medical for an undisclosed amount.

Companion Medical’s product portfolio includes the InPen FDA-cleared smart insulin pen system that is paired with an integrated diabetes management app on the market. It is designed to help calculate insulin doses, track active insulin and send reports to caregivers and is available in the U.S. by prescription only.

The InPen adds to Medtronic’s diabetes portfolio of the MiniMed insulin pump, Guardian CGM and more.

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J&J’s Ethicon touts surgical stapler study

The Echelon powered stapler with gripping surface technology (GST) [Image courtesy of Ethicon]

Ethicon — part of Johnson & Johnson (NYSE:JNJ) — is highlighting new study results in which its Echelon powered stapler with gripping surface technology (GST) had a lower rate of bleeding-related complications than a competing Medtronic product.

Ethicon funded the peer-reviewed study, which appears online in Medical Devices: Evidence and Research. The study compared the Echelon stapler with Medtronic’s Signia stapling system with Tri-Staple among patients undergoing laparoscopic sleeve gastrectomy for obesity.

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Medtronic launches InterStim neurostim leads in U.S.

Medtronic (NYSE:MDT) today said it has launched its InterStim Micro neurostimulator in the U.S.

The sacral neuromodulation therapy was FDA approved earlier this week and received CE mark approval in January.

InterStim Micro is a neurostimulator that sends electrical impulses to the sacral nerves in the lower back to improve bladder and bowel control. The therapy offers control of symptoms through direct modulation of nerve activity to normalize communication between the bladder and the brain.

“Effective long-term bladder and bowel control is needed for almost 55 million adults in the United States who often experience regular accidents and/or frequency issues that are associated with overactive bladder (OAB) and fecal incontinence (FI),” Sandip Vasavada, professor at the Glickman Urological and Kidney Institute and section head female pelvic medicine and reconstructive surgery at the Cleveland Clinic, said in a news release. “A new FDA-approv…

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FDA approves new Medtronic neurostim leads

Medtronic (NYSE:MDT) announced today that it received FDA approval for its InterStim Micro neurostimulator and SureScan MRI leads.

Fridley, Minn.-based Medtronic’s InterStim Micro device for delivering sacral neuromodulation (SNM) therapy is used in treating overactive bladder, fecal incontinence and non-obstructive urinary retention. According to a news release, it is the smallest rechargeable device of its kind.

The new InterStim Micro is 50% smaller than the market’s other rechargeable SNM device, according to the company, and it can recharge from 0% to 100% in less than one hour, holding a battery life of 15 years.

InterStim SureScan MRI leads are used with the InterStim Micro device to allow for full-body 1.5 and 3 Tesla MRI-conditional scans, offering patients and physicians a choice in SNM systems that would match their preferences. Medtronic is making the products available for order immediately, with delivery for patient procedures s…

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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.”

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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.”

Nominees need to be FDA-approved for the market within the last five years, and show major potential to affect healthcare. The winners will be announced in October th…

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Medtronic Foundation pledges $16m to racial equity groups, Minneapolis rebuilding

The Medtronic Foundation today announced a $16 million commitment to partnerships with organizations working to bring about social justice and equity, improve the lives of Black Americans, and help heal and advance the broader community.

The foundation is entering into long-term, multi-year partnerships with the following organizations:

Thurgood Marshall College Fund, to fund scholarships for low-income students studying engineering, biomedical, and business at Historically Black Colleges and Universities (HBCUs) across the U.S. The partnership also includes opportunities for students engaged in science, technology, engineering, and mathematics (STEM) at HBCUs to learn more about medical technology. Northside Achievement Zone (NAZ), to help impoverished families living in North Minneapolis to upgrade skills, increase household income and support their children through high school and college. Medtronic employees will have year-round opportunities to volunteer the…
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Medtronic Foundation pledges $16m to racial equity groups, Minneapolis rebuilding

The Medtronic Foundation today announced a $16 million commitment to partnerships with organizations working to bring about social justice and equity, improve the lives of Black Americans, and help heal and advance the broader community.

The foundation is entering into long-term, multi-year partnerships with the following organizations:

Thurgood Marshall College Fund, to fund scholarships for low-income students studying engineering, biomedical, and business at Historically Black Colleges and Universities (HBCUs) across the U.S. The partnership also includes opportunities for students engaged in science, technology, engineering, and mathematics (STEM) at HBCUs to learn more about medical technology. Northside Achievement Zone (NAZ), to help impoverished families living in North Minneapolis to upgrade skills, increase household income and support their children through high school and college. Medtronic employees will have year-round opportunities to volunteer the…
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MedTech 100 roundup: Industry hits pandemic peak

After five months since medtech stocks peaked before the COVID-19 pandemic rocked the markets, the industry inched back toward that pre-pandemic high.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 88.9 points at the end of last week (July 17). That total represents just a -3.7% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.

Medtech stocks saw a 5.1% increase from the 84.39-point total at the same time a week prior (July 10), highlighting a large improvement after last week saw almost no material change in the index.

Meanwhile, the S&P 500 Index saw a 1.2% bump from July 10 to July 17, and the Dow Jones Index fared even better, posting a 2.3% increase over the same period of time. Both indexes mirrored the medtech industry’s changes as far as increases, but didn’t see as drastic a change.

Medtech’s lowest point du…

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