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J&J and Roche named to Clarivate’s Top 100 Global Innovators list

Photo by Chokniti Khongchum from Pexels

Few healthcare companies were included in the annual ranking of innovative companies from the analytics firm Clarivate plc (NYSE:CLVT).

Two companies in pharma and another in medtech, however, made the cut.

Johnson & Johnson was featured for the second consecutive year as a top 100 Global innovator.

Roche was included for the 11th consecutive year in the report.

In medtech, Philips was included for the second consecutive year.

Clarivate notes the fragmented nature of pharmaceutical research contributes to the limited number of companies in the ranking. Given the elevated role of academia and contract firms in drug discovery and development, it is more challenging for any single entity to stand out in the industry.

Additionally, Clarivate concluded that the ability of the pharmaceutical sector to innovate has fallen since last year…

Philips is betting big on the cloud; two leaders discuss the connected future

Christine Storm, Virtual Care Solutions business category leader at Philips [Photo courtesy of Philips]

Royal Philips (NYSE: PHG, AEX: PHIA) bet big on the cloud in 2021, buying Capsule Technologies for $635 million to integrate Capsule’s medical device integration and data technologies with Philips’ cloud-based digital health platform.

The Philips Capsule Medical Device Information Platform (MDIP) can now integrate with more than 1,000 unique types of medical devices, the Dutch medtech giant said in October.

To help understand what’s possible in medtech with the cloud, Medical Design & Outsourcing asked two leaders at Philips — Virtual Care Solutions Business Category Leader Christine Storm and Informatics Transformational Programs Leader Bas Kuppens — to offer their perspectives. The following exchange has been edited for space and clarity.

MDO: What are some surprising and…

FDA considers another Philips ventilator recall serious

[Image from Philips/FDA]The FDA has identified another recall for Royal Philips‘ (NYSE:PHG) Respironics business, confirming it as Class I, the most serious kind.

Philips said last summer that it is no longer taking orders of sleep therapy systems as it handles an earlier recall, which may knock it out of the sleep therapy market for a year. last year’s urgent medical device recall for Philips’ DreamStation continuous positive airway pressure (CPAP) devices.

The FDA classified the company’s recall of the DreamStation continuous positive airway pressure (CPAP) devices as Class I, the most serious kind, in July 2021 as a result of polyester-based polyurethane (PE-PUR) sound abatement foam breaking down, allowing for the potential for the foam to enter a device’s air pathway, causing a host of health problems and toxic carcinogenic effects for the user.

Along with supply chain issues, the Respironics recall adversely affected Philips’ fourth-…

Philips launches at-home, 12-lead ECG for clinical trials

Philips’ new 12-lead, at-home ECG. [Image courtesy of Philips]Royal Philips (NYSE: PHG, AEX: PHIA) announced today that it is expanding its remote cardiac monitoring portfolio with a patch-based, clinical-grade ECG.

The new at-home electrocardiogram monitors could reduce the need for site visits during clinical trials, according to the Dutch medtech giant. At-home ECG is a hot space: iRhythm Technologies CEO Quentin Blackford recently spoke with Medical Design & Outsourcing about iRhythm’s plans to roll out asymptomatic atrial fibrillation (AFib) screening pilots with payors in 2022.

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

Philips launches at-home, 12-lead ECG for clinical trials

Philips’ new 12-lead, at-home ECG. [Image courtesy of Philips]

Royal Philips (NYSE: PHG, AEX: PHIA) announced today that it is expanding its remote cardiac monitoring portfolio with a patch-based, clinical-grade ECG.

The new at-home electrocardiogram monitors could reduce the need for site visits during clinical trials, according to the Dutch medtech giant. At-home ECG is a hot space: iRhythm Technologies CEO Quentin Blackford recently spoke with Medical Design & Outsourcing about iRhythm’s plans to roll out asymptomatic atrial fibrillation (AFib) screening pilots with payors in 2022.

Philips described its device as the industry’s first full-service, at-home, 12-lead electrocardiogram (ECG) for use in decentralized clinical trials. Such full-service, at-home monitoring could reduce patient attrition in clinical trials.

“Our customers are seeking solutions that will help them to add…

Respironics recall, supply chain issues lead to Philips miss on Q4 projections

Royal Philips (NYSE:PHG) shares took a hit today on fourth-quarter results that came up shy of the consensus forecast.

The Amsterdam-based company posted profits of $183 million (€162 million), or 18¢ (€0.16) per share, on sales of $5.5 billion (€4.9 billion) for the three months ended Dec. 31, 2021, for a 75.2% bottom-line slide on a sales decline of 5.6%.

Adjusted to exclude one-time items, earnings per share were 64¢ (€0.57), 73¢ behind Wall Street, where analysts were looking for sales of $5.9 billion.

“In the fourth quarter, we recorded €4.9 billion sales, reflecting a 10% comparable sales decline, with an adjusted EBITA margin of 13.1%,” Philips CEO Frans van Houten said in a news release. “As we announced on January 12, 2022, sales were impacted by several headwinds, namely supply chain challenges, postponement of equipment installations in hospitals related to COVID-19, and the consequences of the Respironics field action.

Phil…

Philips backing efforts to reduce CIED infections

Royal Philips (NYSE:PHG) announced today that it supports the American Heart Association’s efforts to reduce CIED infections.

Amsterdam-based Philips offered its support to the initiative to generate awareness among cross-disciplinary specialties and improve survival rates from CIED (cardiovascular implantable electronic device) infections.

The company said in a news release that, with its support, the American Heart Association’s national CIED infection initiative will work with medical professionals to prevent and properly treat infections resulting from CIEDs, including pacemakers, implantable cardioverter-defibrillators and cardiac resynchronization devices.

“We are pleased to receive the support of Philips on this important effort to raise awareness for CIED infection care, reduce mortality rates among patients and improve guideline-driven care of people living with CIED devices,” American Heart Association SVP of Quality, Ou…

Philips adds cloud-based AI, 3D mapping to its image-guided therapy system

[Image from Philips]Royal Philips (NYSE:PHG) announced today that it expanded the capabilities for its Zenition image-guided therapy mobile C-arm system.

Amsterdam-based Philips signed a strategic partnership with UK-based Cydar, a provider of cloud-based procedure maps software for planning and guiding surgery in real-time, to enhance clinical accuracy and efficiency and improve outcomes for patients undergoing endovascular treatment.

Philips said in a news release that the Zenition mobile C-arm system combines image capture, processing, ease-of-use and versatility to maximize operating room performance, while the integration of Cydar EV Maps software into the platform will add extended procedure planning and real-time 3D guidance capabilities.

Cydar’s EV Maps assists in planning, real-time guidance and post-procedure review for endovascular surgery, bringing cloud-based AI and computer vision to mobile surgery to reduce radiation exposure, fluorosco…

Philips expects Q4 revenue to be down 10% amid recall, supply chain shortages

Royal Philips (NYSE:PHG) announced today that its fourth-quarter revenue will likely come in shy of previously announced expectations.

Amsterdam-based Philips projects approximately $5.6 billion (€4.9 billion) in group sales for the quarter, which registers about $399.2 million (€350 million) short of earlier projections and can be mainly attributed to global supply chain shortages and the postponement of customer equipment installations.

On the back of the news, shares of PHG were trading down 15.6% at $32.71 per share in pre-market trading.

“We continue to see good demand for our innovative products and solutions, resulting in an all-time high order book,” Philips CEO Frans van Houten said in a news release. “However, we faced significantly intensified global supply chain issues across our businesses, in addition to customer postponement of equipment installations in hospitals. We are closely working with suppliers and governments to address the shorta…

FDA approves Philips’ laser-based device for removing inferior vena cava filters

The FDA today announced the authorization of the first laser-based device for removing IVC filters, developed by Royal Philips (NYSE:PHG).

Authorization was given through the de novo pathway, with Philips’ device receiving FDA breakthrough device designation for the removal of IVC (inferior vena cava) filters.

Philips designed the device for patients who have an IVC (inferior vena cava) filter inserted into the largest vein in the body to capture blood clots and prevent them from traveling to the lungs. The new device — Philips’ CavaClear laser sheath — removes tissue to facilitate the detachment of an IVC filter during retrieval when previous methods of removal have failed.

The Amsterdam-based company designed the device to facilitate the detachment of the firmly adherent IVC filters from the IVC wall using ultraviolet laser energy to remove a small amount of the tissue, with the device made for use in conjunction with conventional snare dev…

Philips to by Vesper Medical and its advanced venous stent portfolio

The Vesper DUO Venous Stent System [Image courtesy of Vesper Medical]Royal Philips announced today that it will acquire Vesper Medical, a Wayne, Pennsylvania–based maker of minimally-invasive peripheral vascular devices.

The financial terms of the deal were not disclosed.

The purchase will enable the Dutch medtech giant to expand its diagnostic and therapeutic devices portfolio with an advanced venous stent portfolio.

Get the full story on our sister site Medical Tubing + Extrusion.

Philips recognized for its climate action leadership

Royal Philips (NYSE:PHG) announced today that it received recognition from environmental non-profit CDP for its climate action leadership.

Through its efforts in cutting emissions, mitigating climate risks and developing the low-carbon economy, Philips was included on CDP’s “A List” for the ninth consecutive year, according to a news release.

CDP’s scoring methodology assesses companies on the comprehensiveness of their disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, including setting ambitious and meaningful targets.

Philips said it is already carbon neutral in its operations with intentions to further reduce its CO2 emissions in line with 1.5°C global warming. Efforts include improving the energy efficiency of its products during the customer use phase and teaming up with customers and stakeholders to decarbonize healthcare.

Goals fo…