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How Medtronic, Abbott, Resmed see healthcare improving through ecosystems

Medtronic’s Geoff Martha (left), Abbott’s Lisa Earnhardt (middle) and ResMed’s Mick Farrell (right). The trio discussed the medtech ecosystem at AdvaMed’s The MedTech Conference in Boston.

According to McKinsey & Company Senior Partner Rajesh Parekh, “ecosystem” is a word used plenty in the tech world. Now it’s coming into the medtech space.

So, what is an ecosystem? How can medtech companies take advantage of one to provide better care and improved patient outcomes? How can they do so with speed in an ever-changing environment? Three major medtech leaders joined Parekh at AdvaMed’s The MedTech Conference in Boston to try and explain that.

Medtronic Chair and CEO Geoff Martha, Abbott EVP of Medical Devices Lisa Earnhardt and ResMed CEO Mick Farrell offered their views on ecosystems in the space.

What is an ecosystem in healthcare?

Earnhardt said an ecosystem brings a variety of stakeholders together to …

ResMed expects steady growth over the next year

ResMed (NYSE: RMD, ASX: RMD) today reported fourth-quarter results that beat the consensus forecast on Wall Street amid continued adoption of its next-gen AirSense 11 CPAP.

CEO Mick Farrell said in a news release that ResMed launched the fully cloud-connectable AirSense 11 into several new European countries. The AirSense 11 is also selling well in the U.S., the company said.

Farrell also detailed ResMed’s strategy to deal with the semiconductor shortage facing ResMed and many other medtech companies:

“We also introduced our newest device to meet the needs of an industry crisis in PAP supply, the AirSense 10 Card-to-Cloud solution, during the quarter. The card-to-cloud device was launched into the U.S. and many other markets and is designed to work without an embedded communications module. This redesign allowed us to increase deliveries to customers and ultimately to get many more patients onto life-saving sleep apnea and respiratory care th…

ResMed acquires Mementor and its digital health app for insomnia

ResMed (NYSE: RMD, ASX: RMD) announced today that it has acquired Mementor (Leipzig) and its digital insomnia therapy in a bid to strengthen its overall sleep portfolio in Germany.

The deal closed yesterday. ResMed did not disclose financial terms. The maker of CPAPs and other respiratory therapy devices was one of the first medical device companies to make the transition into digital, a major trend in the industry.

Mementor is the developer and owner of the digital insomnia therapy app Somnio. ResMed described Somnio as Germany’s first and only permanently approved digital health application (DiGA) in sleep medicine, eligible for reimbursement in Europe’s largest economy. Somnio is also compliant with the EU’s General Data Protection Regulation.

“Mementor is an ideal fit for ResMed Germany and, more important, millions of people across Germany who want to improve their sleep and overall health,” ResMed Germany President Katrin Pucknat said …

ResMed names Lucile Blaise as new Sleep & Respiratory Care leader

Lucile Blaise will become president of ResMed’s Sleep & Respiratory Care business on July 1. [Photo courtesy of ResMed]Lucile Blaise will be the new president of ResMed’s Sleep & Respiratory Care business starting July 1, ResMed (NYSE: RMD) said today.

She replaces Jim Hollingshead, who became president and CEO of Insulet (Nasdaq:PODD) on June 1. ResMed President and COO Rob Douglas is serving as interim president of the Sleep & Respiratory Care during the transition.

Blaise is ResMed’s VP of Sleep & Respiratory Care for Western Europe. She joined San Diego-based ResMed in 2006 and has more than 25 years of experience in medical device sales, marketing, finance, and business development, the company said in a news release.

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

ResMed names Lucile Blaise as new Sleep & Respiratory Care leader

Lucile Blaise will become president of ResMed’s Sleep & Respiratory Care business on July 1. [Photo courtesy of ResMed]

Lucile Blaise will be the new president of ResMed’s Sleep & Respiratory Care business starting July 1, ResMed (NYSE: RMD) said today.

She replaces Jim Hollingshead, who became president and CEO of Insulet (Nasdaq:PODD) on June 1. ResMed President and COO Rob Douglas is serving as interim president of the Sleep & Respiratory Care during the transition.

Blaise is ResMed’s VP of Sleep & Respiratory Care for Western Europe. She joined San Diego-based ResMed in 2006 and has more than 25 years of experience in medical device sales, marketing, finance, and business development, the company said in a news release.

Blaise serves on the MedTech Europe board and was elected president of French medtech association Snitem this month.

ResMed CEO Mick Farrell …

ResMed to acquire out-of-hospital software developer Medifox Dan for $1B

ResMed (NYSE:RMD) announced today that it agreed to acquire German software company Medifox Dan in a deal worth $1 billion.

Hildesheim, Germany-based Medifox Dan develops clinical, financial and operational software solutions for out-of-hospital care providers. Its offerings include care documentation, personnel planning, administration, billing and more.

According to a news release, Medifox Dan’s solutions are similar to those belonging to ResMed’s leading U.S. SaaS brands, MatrixCare and Brightree.

Under the terms of the agreement, ResMed will acquire Medifox Dan from Hg, a software and services investor, for approximately $1.0 billion (€950 million), which ResMed expects to fund with its existing credit facilities.

ResMed expects the acquisition of the company, which recorded pro forma net revenue of approximately $83 million in calendar 2021, to be accretive to its adjusted diluted earnings per share after the close, which is earma…

ResMed finds a solution to semiconductor shortage, as well as some humor in it

ResMed (NYSE:RMD) can’t go back in time to solve its semiconductor shortage, but it’s found a solution that might be the next best thing — for now.

President and COO Rob Douglas (serving as interim president of Sleep and Respiratory Care at ResMed after Jim Hollingshead left to be CEO of Insulet) offered an update on the San Diego-based company’s supply chain issues as it tries to capture more of the market while Philips works through its recall.

“We’ve been managing a higher than normal rate of decommits coupled with a competitor recall that sucked all the inventory out of our systems and out of all of our customers’ systems as well,” Douglas said Wednesday at the William Blair Growth Stock Conference. “And so there is a huge shortage of devices. … We joke that the head of our supply chain is actually our chief revenue officer because what that person builds, we sell (in terms of devices) as soon as we can.”

Get the full story at our sister si…

ResMed finds a solution to semiconductor shortage, as well as some humor in it

ResMed (NYSE:RMD) can’t go back in time to solve its semiconductor shortage, but it’s found a solution that might be the next best thing — for now.

President and COO Rob Douglas (serving as interim president of Sleep and Respiratory Care at ResMed after Jim Hollingshead left to be CEO of Insulet) offered an update on the San Diego-based company’s supply chain issues as it tries to capture more of the market while Philips works through its recall.

ResMed President and COO Rob Douglas [Photo courtesy of ResMed]

“We’ve been managing a higher than normal rate of decommits coupled with a competitor recall that sucked all the inventory out of our systems and out of all of our customers’ systems as well,” Douglas said Wednesday at the William Blair Growth Stock Conference. “And so there is a huge shortage of devices. … We joke that the head of our supply cha…

Medtech CEOs sound off on semiconductor shortage, pushing Biden administration for prioritization

BD CEO, President and Chair Tom Polen [Photo courtesy of BD]AdvaMed continues to push the Biden administration to prioritize medical device manufacturers for semiconductor supplies.

With medtech companies still struggling to source chips amid a global shortage, the industry association held a meeting this week with some of its members and Secretary of Commerce Gina Raimondo to make their case.

“Semiconductor chips are crucial to our industry and to the countless patients who depend on the medical technologies we produce,” AdvaMed President and CEO Scott Whitaker said during the meeting, according to a readout. “In this challenging environment, we simply cannot compete with larger players to gain access to chips.”

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

Medtech CEOs sound off on semiconductor shortage, pushing Biden administration for prioritization

BD CEO, President and Chair Tom Polen [Photo courtesy of BD]

AdvaMed continues to push the Biden administration to prioritize medical device manufacturers for semiconductor supplies.

With medtech companies still struggling to source chips amid a global shortage, the industry association held a meeting this week with some of its members and Secretary of Commerce Gina Raimondo to make their case.

“Semiconductor chips are crucial to our industry and to the countless patients who depend on the medical technologies we produce,” AdvaMed President and CEO Scott Whitaker said during the meeting, according to a readout. “In this challenging environment, we simply cannot compete with larger players to gain access to chips.”

Medical device manufacturers buy about 1 percent of the world’s semiconductors, the trade group has said. That small share is difficult for the industry to leverage wit…

ResMed scales back the earnings it expects from Philips recall

ResMed (NYSE:RMD) shares dipped today on third-quarter results that came up shy of the consensus forecast.

RMD shares were down 3.5% at $206.05 per share in mid-afternoon trading. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down 0.7%.

The stock hit can also be attributed to a $100 million reduction in financial guidance, with the company’s new projection set for between $200 million and $250 million.

CEO Mick Farrell said in the company’s earnings call — as transcribed by The Motley Fool — a contract from 12 months ago had “a very significant double-digit de-commit” in recent weeks, as well as another commitment that was decreased.

The guidance included expected share gains following the serious recall that knocked Philips out of the respiratory sleep devices market last year, although analysts did project in February that ResMed’s grasp of t…

These 10 medtech companies’ stocks performed best in 2021

(From Ishant Mishra on Unsplash)

Following a year like no other in 2020, 2021 was when many looked to rebound — including the medtech industry.

A number of medtech companies followed up a challenging, pandemic-enveloped year with impressive performances. Plenty of them had already proven in 2020 that they were capable of a quick bounce-back.

Here are 10 medtech companies that saw their stocks soar even higher in 2021:

(This list includes members of the MassDevice MedTech 100 Index of the world’s largest medical device companies. Performance is measured in stock price change from Dec. 31, 2020, to Dec. 31, 2021.)

Get the full story at our sister site, MassDevice.