Ventec Life Systems Archives - Medical Design Sourcing

Ventec Life Systems taps Philips exec as new CEO

Ventec Life Systems announced that its board of directors appointed Jim Alwan as the company’s president & CEO.

Bothell, Wash.-based Ventec said in a news release that Alwan will assume the role effective March 15, 2021, while also joining as a member of Ventec’s board of directors.

A veteran of more than 25 years in the healthcare space, Alwan most recently served as SVP & GM of the hospital respiratory care business at Philips. He also served as VP of innovation and business development at Becton Dickinson.

“Jim brings a track record of industry accomplishment and effective leadership to Ventec,” Ventec Life Systems board of directors chairman Jim Hickey said in the release. “He has a unique blend of market knowledge, general management, and engineering skills. We are pleased that Jim has joined Ventec and look forward to significant company growth under his guidance.”

Ventec experienced a busy 2020, multiplying its manufactu…

MedTech 100 roundup: Stocks top pre-pandemic high

After weeks of flirting with the heights hit before COVID-19 ravaged the markets, medtech stocks finally topped the pre-pandemic high last week.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — spiked up to 93.11 points on Sep. 2, nearly a full point ahead of the pre-pandemic high of 92.32, which the market reached on Feb. 19.

Medtech stocks had hit a previous mid-pandemic high of 91 points last week, hanging around there before the sudden rise to 93.11, which was followed by a quick dip to 90.64 points 24 hours later.

The index dipped from that peak, though, sitting at 89.29 points at the end of last week (Sep. 4). Overall, medtech stocks saw a -1.6% decrease from the 90.78-point total at the same time a week prior (Aug. 28).

The most recent high mark represents a 0.9% rise from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -3.3% decrease from that pre-pande…

Report: U.S. ventilator stockpile is full

Philips Trilogy EVO portable ventilator (Image courtesy of Philips)

The U.S. Dept. of Health and Human Services (HHS) is reportedly terminating more ventilator contracts as the national stockpile is full.

The Hill reported today that HHS is throwing out some of the contracts that totaled $3 billion as the U.S. government sought to supply as many ventilators as possible during the first surge of the COVID-19 pandemic.

This news follows a recent announcement from Royal Philips (NYSE:PHG) that it would not be supplying the remaining 30,700 ventilators it was slated to manufacture by December to the Strategic National Stockpile, with HHS canceling the contract after the Amsterdam-based company delivered 12,300 total bundled ventilator configurations supplied to the stockpile through August, falling in line with the stipulations of the contract.

HHS has not divulged details on any terms of their can…

Ventec, GM complete HHS ventilator contract

(Image courtesy of Ventec)

Ventec Life Systems and General Motors announced today that they completed their government contract to produce 30,000 ventilators.

The two companies kicked off mass production of Ventec’s V+Pro critical care ventilator at GM’s Kokomo, Ind., plant in April, having received a $489.4 million contract from the U.S. Dept. of Health and Human Services to deliver 30,000 ventilators by the end of August amid the COVID-19 pandemic.

Following yesterday’s shipment to complete the delivery, GM has formally turned over operational control of the Kokomo manufacturing operation to Ventec, which will produce its VOCSN multi-function critical care ventilators there and in Bothell, Washington, to continue to meet demand for ventilators as the COVID-19 pandemic roars on.

Ventec’s monthly ventilator production increased by 80 times during the pandemic, the compan…

Report: Ventilators are piling up in government stockpiles

(Image courtesy of Ventec)

As the COVID-19 pandemic roars on, the government stockpile of once-in-demand ventilators has reportedly turned into a collection of unused devices.

The Washington Post reports that, following the panic caused by an anticipated ventilator shortage and subsequent rush to add to the stockpile after President Trump invoked the Defense Production Act, the approach to treating COVID-19 changed and continued efforts to produce ventilators may come too late.

According to the report, the U.S. Dept. of Health and Human Services (HHS) said it distributed 15,057 ventilators as of last Friday, with 95,713 ventilators remaining in the stockpile, among which 94,352 had come from contracts signed since the pandemic began.

When the pandemic began, ventilators were highly sought after, but, more than five months in, The Washington Post said medical experts claim intubation for COVID-1…

MedTech 100 roundup: Up-and-down week for industry

Medtech stocks highlighted the topsy-turvy nature of the market last week, but ultimately finished the seven days nearly unchanged.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.77 points at the end of last week (Aug. 14). Overall, medtech stocks saw a 0.13% increase from the 89.65-point total at the same time a week prior (Aug. 7).

On Aug. 13, the index reached 90.4 points, a total that nearly poked past the previous mid-pandemic high (90.45), which came just last week.

The most recent high mark represents just a -2.1% dip from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -2.8% decrease from that pre-pandemic high.

Meanwhile, the S&P 500 Index saw a 0.64% increase from Aug. 7 to Aug. 14, and the Dow Jones Index fared even better, rising 1.8% over the same period of time.

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

Ventec to take over ventilator production at GM plant

(Image courtesy of Ventec)

Ventec Life Systems and General Motors have delivered more than 20,000 ventilators they built together at a GM plant, and GM plans to turn over production to the medtech company once their federal contract is completed, Ventec announced this week.

Production of Ventec’s V+Pro critical care ventilators at the Kokomo, Ind., GM plant began in April, with delivery to the Strategic National Stockpile to help COVID-19 patients. GM and Ventec have a $489.4 million contract from the U.S. Department of Health and Human Services to ship 30,000 machines by the end of August.

As demand for critical care ventilators continues with the spread of COVID-19, GM has agreed to hand off control of production at the Kokomo plant to Ventec, which said it will continue expanded production at its headquarters in Bothell, Wash.

“During this pandemic, ven…