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The top 7 medtech CEO quotes on COVID-19, one year later

The latest earnings season has provided insights into the future of medtech in the COVID-19 landscape and what certain sectors are seeing as vaccines start to roll out.

Since the start of the pandemic, 113.1 million COVID-19 cases have been reported worldwide, according to Johns Hopkins University School of Medicine. The U.S. leads the world in infections, accounting for 28.4 million cases. More than 2.5 million people have died from the virus globally. Medtech has been on the frontlines throughout the pandemic, whether it was shifting production to make ventilators or PPE or developing COVID-19 tests and vaccines.

More than a year since the virus’ appearance in the U.S., some medtech CEOs are gaining a better understanding of how the industry may look moving forward. From stockpiling to new COVID-19 variants posing risks, here are the insights from seven CEOs.

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The top 7 medtech CEO quotes on COVID-19, one year later

[Photo by Fusion Medical Animation on Unsplash]

The latest earnings season has provided insights into the future of medtech in the COVID-19 landscape and what certain sectors are seeing as vaccines start to roll out.

Since the start of the pandemic, 113.1 million COVID-19 cases have been reported worldwide, according to Johns Hopkins University School of Medicine. The U.S. leads the world in infections, accounting for 28.4 million cases. More than 2.5 million people have died from the virus globally. Medtech has been on the frontlines throughout the pandemic, whether it was shifting production to make ventilators or PPE or developing COVID-19 tests and vaccines.

More than a year since the virus’ appearance in the U.S., some medtech CEOs are gaining a better understanding of how the industry may look moving forward. From stockpiling to new COVID-19 variants posing risks, here are the insights from s…

MedTech 100 roundup: Slight dip after all-time best for industry

The medtech industry’s stocks rose higher than they ever had to begin last week before eventually dropping to a slightly more normal level.

MassDevice‘s MedTech 100 index ended the week (Feb. 19) at 108.72 points, marking a -1.7% dip from the 110.63-point mark set at the end of the previous week (Feb. 12). On Monday (Feb. 15) the index hit its highest mark ever, though, rising to 110.96 points.

That mark sets an all-time best for the index, which has been on the rise for practically all of 2021 so far. It previously reached 106.81 points on Jan. 8, then 107.4 points on Jan. 20 before besting itself again with last week’s finish. The improvement has been considerably impressive given that the index had never reached even the 100-point mark before November 2020.

Medtech’s latest tally means the index has risen 17.8% from the pre-COVID-19 pandemic high of 92.32, set on Feb. 19, 2020. Additionally, the industry has very much rebounded from its lowest p…

DTW Podcast – Tale of Two CEOs – How Tim Herbert led Inspire to an IPO; Where Rob Bodor wants to take Protolabs

Inspire Medical CEO Tim Herbert never set out to be a CEO. Yet, he spun of a promising sleep apnea technology out of Medtronic and assembled a team that not only went public, but helps hard-to-treat apnea patients live healthier lives through better sleep.

Oh, and the electrical engineer turned startup-CEO took the medtech public in 2018. Listen to this episode to hear how Inspire management worked with the FDA, payers and public investor to build a burgeoning neuromed giant.

Co-host Tom Salemi also talks to Rob Bodor, the incoming CEO at Protolabs. Bodor succeeds the highly successful Vicki Holt who built the manufacturing company into an acquisitive powerhouse. Hodor shares what’s next for the company.

Co-cost Chris Newmarker, executive editor of life sciences at MassDevice, unveils this week’s Newmarker’s Newsmakers featuring news from Thermo Fisher Scientific, Mainstay Medical, Theranos, Butterfly Networks and Zimmer Biomet’s …

Zimmer Biomet wants federal court to throw out $3.55M hip implant judgement

[Image from Unsplash]Zimmer Biomet (NYSE:ZBH) wants either a judgment or a new trial after a federal jury’s $3.55 million award in a metal-on-metal hip implant case.

The jury awarded the money to Lori Nicholson and her husband Willis in November for injuries sustained as a result of the M2A Magnum.

In a brief filed Feb. 12, Zimmer Biomet claimed that the court erred in allowing the Nicholsons’ lawyers to introduce general metal-on-metal post-sale evidence. “The court’s handling of post-sale evidence prejudiced Biomet by permitting plaintiff to build a case based on the medical industry’s current knowledge and understanding of the risks and benefits of metal-on-metal hip implants as a class”

The court also failed to accurately describe the law regarding reasonable alternative design, erred in allowing other evidence and opinions, applied Iowa law versus Indiana law for punitive damages, and should not have submitted puniti…

Former Medtronic exec to lead Zimmer Biomet spinoff

Vava Jamali will lead Zimmer Biomet spinoff “NewCo” as its CEO [Image from LinkedIn]Zimmer Biomet (NYSE:ZBH) announced today that Vafa Jamali will serve as the CEO of “NewCo,” the spine and dental business spinoff that Zimmer Biomet expects to close in mid-2022.

A more than 25-year medtech veteran, Jamali most recently served as chief commercial officer of Rockley Photonics. Before that, he was SVP and president of Respiratory, Gastrointestinal & Informatics (RGI) at Medtronic. Over the years, he’s also held leadership positions at Covidien, Cardinal Health, and Baxter.

“Vafa’s extensive knowledge and experience in building teams, developing long-term growth strategies, prioritizing resources, driving execution and delivering growth across the medical device industry make him the ideal leader to shape the direction of NewCo and move the business forward,” Zimmer Biomet CEO Bryan Hanson said in a news release.

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Are smart knee implants the next big thing in ortho?

Orthopedic device industry watchers think so, and Zimmer Biomet appears set to be the first out of the gate this year through a partnership with the startup Canary Medical.

The Canary Health Implantable Reporting Processor (CHIRP) can go inside the tibial extension segment of a commercial knee prosthesis, shown here. [Image courtesy of Canary Medical]What do drug-eluting stents and “smart” implantable medical devices have in common? It turns out it’s a lot, at least according to Dr. Bill Hunter.

The founder and CEO of Angiotech Pharmaceuticals from 1992 to 2011, Hunter saw that medical device companies had cardiovascular stents that could save lives but also caused inflammation problems, while pharmaceutical companies had drugs that could stop the inflammation. He helped bring the technologies together, playing a role in the invention and development of the Taxus drug-eluting coronary stent from Boston Scientific and the Zilver PTX peripheral dr…

DTW Podcast: Zimmer Biomet slims, Corza Medical grows in pursuit of grabbing market share

In this week’s DeviceTalks Weekly Podcast, Rich Newitter, managing director at SVB Leerink, says Zimmer Biomet’s decision to spin out its spinal and dental business will accelerate its already impressive market share grab in its core orthopedics industry.

Dewitter says CEO Bryan Hanson brings a tried-and-true diversification model used by companies like his former employer, Covidien. The spinout of the spinal and dental businesses into a NewCo will allows the company to focus more resources on selling knee and hip implants as well as building out an impressive robotics franchise and a potentially sector-leading line of digital tools and sensors.

“Zimmer has effectively gone from a share loser for almost a decade leading up to when Bryan Hanson took over to a share-taking position,” he said in an interview with Chris Newmarker, executive editor of life sciences. “This most recent quarter, their share gains have widened quite dramatically.”

In …

MedTech 100 roundup: Index rebounds from dip with another all-time high

The end of January saw the first major dip for the medtech industry but the beginning of February brought yet another peak.

MassDevice‘s MedTech 100 index ended the week (Feb. 5) at 108.23 points, marking a 4% rise from the 104.05-point mark set at the end of the previous week (Jan. 29).

The final mark for the week sets an all-time best for the index, which had previously reached 106.81 points on Jan. 8, then 107.4 points on Jan. 20. The rise has been remarkable, considering the index had never reached even the 100-point mark before November 2020.

Medtech’s latest rise means the index has risen 17.2% from the pre-COVID-19 pandemic high of 92.32, set on Feb. 19, 2020. Additionally, the industry has very much rebounded from its lowest place, a 62.13-point mark at the start of the pandemic on March 23, 2020. Since that point, the industry has jumped 74.2%.

Here are some of the best-performing medtech stocks from 2020.

Medtech’s performanc…

BREAKING: Zimmer Biomet to spin off Spine and Dental businesses

Zimmer Biomet (NYSE:ZBH) — one of the world’s largest orthopedic device companies — will be a bit smaller going forward.

The Warsaw, Ind.–based company announced today that it will spin off its new Spine and Dental businesses into a new, independent, publicly-traded company called NewCo. Zimmer Biomet plans to complete the transaction by mid-2022.

The businesses that fall under the NewCo banner made up nearly 13% of Zimmer Biomet revenues over the past two years, bringing in $1.022 billion in 2019 and $897 million in 2020. Differentiated spine products to help power NewCo growth in the future include the Rosa One Spine robotic surgery system, the Mobi-C cervical disk and The Tether. Dental boasts a whole sweet of oral reconstruction products.

Zimmer Biomet has been in the midst of a major reorganization in recent years as CEO Bryan Hanson seeks to refocus the businesses, with the company even recently announcing Medtronic veteran Ellie Humphrey&#…

DTW Podcast: CEO Johnson on entrepreneurship, upcoming MedtechColor Pitch Contest; Krum handicaps medtech Q4

In this episode of the DeviceTalks Weekly Podcast, Angelique Johnson, CEO of MEMstim, shares her “accidental entrepreneur” story and how it has enabled her the help others pursuing the same dream.

Also, Johnson, co-founder of MedtechColor, an organization seeking to further the advancement of people of color in the medical device industry, details the group’s goals and invites entrepreneurs of color to apply for the group’s Pitch Contest.

The deadline is Feb. 5. Go to medtechcolor.org for more information.

Truist Securities Managing Director Kaila Krum answers questions about medtech’s Q4 performance, diving deeper on Stryker and other companies.

Krum also shares details on a survey conducted by the research team that sought to answer the question – when will hospitals start seeing elective patients again.

Pharma Editor Brian Buntz returns to tell his story of his 10-days wearing a continuous glucose monitor from Dexcom. Buntz wrote …

The top 5 MassDevice stories of the week — January 29, 2021

Two important medtech industry hires are among the top stories on MassDevice this week, with robotic surgery and COVID-19 vaccines also dominating the news.

Want to hear more about the week’s top medtech news on MassDevice? Executive editor Chris Newmarker and Tom Salemi will discuss the week’s “Newmarker’s Newsmakers” — as well as play some drum and bugle corps music — during our DeviceTalks Weekly podcast.

Without further ado, here’s this week’s MassDevice Top Five:

5. Titan Medical closes on $11.5M offering

Titan Medical (TSX:TMD; NSDQ:TMDI) closed on a previously announced offering, raising $11.5 million in aggregate gross proceeds. The Toronto-based surgical robotics company conducted the sale by way of a short form prospectus in each of the provinces of British Columbia, Alberta and Ontario — as well as a private placement in the U.S. Read the full story.

4. Butterfly Network names new CEO before going public via merger

Dr. Todd Fruchterman…