Cordis to acquire health-tech company MedAlliance to expand its suite of innovative medical care solutions
Key Insights and Signals – Hospital & Healthcare
Centre Setup Northside Hospital expands urgent care access with two new health choice centers The Hospital, in partnership with Urgent Care Group, announces the opening of two new Health Choice Urgent Care centers in Braselton and Snellville.Urgent Care Group’s track record in the urgent care field is outstanding, and it fits quite well with Northside’s mission and patient care commitment. Read More>> Encompass Health announces plans to build a 50-bed inpatient rehabilitation hospital in St. Petersburg, Florida The health corporation announced it plans to build a freestanding, 50-bed inpatient rehabilitation hospital in St. Petersburg, Florida. The hospital will be located near the intersection of Tyrone Boulevard North and 9th Avenue North. This hospital will also offer physical, occupational and speech therapies to restore functional ability and quality of life. Read More>> UPMC officially opens the Institute of Health at Connacht GAA Center in Bekan The healthcare company is set to open a new state-of-the-art facility at the Connacht GAA center of excellence in Bekan. The local community will benefit from the provision of sports medicine and physiotherapy services, as well as rehabilitation programs for oncology, osteoarthritis, and cardiology. Read More>>Merger and Acquisition Tampa General acquires Palm Beach Radiology The Hospital has acquired Palm Beach Radiology in North Palm Beach. Patients in the area can now receive imaging exams within the Tampa General system, making for a more seamless experience. Read More>>Partnerships Decode Health collaborates with Quest Diagnostics to speed biomarker discovery for drug and diagnostics development In earlier phases of the collaboration, the two parties developed RNA (transcriptome) sequencing capabilities based on both parties’ next-generation sequencing, analytics, and clinical expertise. The collaboration is significant as biomarker-based data can help reduce the time and cost of developing novel diagnostic tests and identifying new drug targets. Read More>> Tampa General, Florida Urology Partners, is first to offer procedure protecting prostate cancer patients undergoing radiotherapy The Hospital, in partnership with Florida Urology Partners, is the first in the U.S. to offer a next-generation technology that recently received U.S. Food and Drug Administration 510(k) clearance. At Tampa General, and Florida Urology Partners, the procedure is done in an outpatient setting. Read More>> Cohere Health and Humana expand partnership to further improve physician and member experiences The healthcare announced that Humana Inc. will expand its use of Cohere’s digital UM collaboration platform to enable seamless prior authorization for cardiovascular and surgical services. In addition to digitizing prior authorization requests for these services, the technology automates clinical intelligence into the provider’s workflow. Read More>>Executive Movements MarinHealth selects Eugene Lewis as Chief Human Resources Officer The company announced the selection and promotion of its interim chief human resources officer, Eugene Lewis, who will fill the role of chief human resources officer. Lewis succeeds Linda Lang JD, a former senior leader responsible for all human resources functions at MarinHealth. Read More>> Teladoc Health appoints Laizer Kornwasser as President, Enterprise Growth & Global Markets The healthcare announced that is has named Laizer Kornwasser as President, Enterprise Growth & Global Markets, effective October 24, 2022. As President, Laizer will be focused on further unlocking the revenue and growth potential of the company and optimizing performance across Teladoc’s four market channels. Read More>> Saskatchewan Health Authority appoints Andrew Will as new CEO The recruitment was led by the SHA Board and was supported by a search firm. Having grown up in rural Saskatchewan, he understands the importance of being able to access high-quality care as close to home as possible. Read More>>Financial and Market Activity Teladoc Health Reports Third-Quarter 2022 Results The healthcare company reported financial results for the third quarter ended September 30, 2022. It delivered strong third-quarter results, including robust revenue growth, and adjusted EBITDA above the high end of expectations. Revenues grew 20% to USD 1,546.6 Mn, and international revenues grew 19% to USD 222.5 Mn for the first nine months of 2022. Read More>>
Key Insights and Signals in Medical Devices
Centre Setup and Expansion Grifols opens new medical protein purification plant in Dublin The company has opened a large new extension at its Dublin site. The new albumin purification plant marks a significant upgrade for the Irish operation, which started life as a vial warehousing and final quality control hub. It makes Dublin the group’s fifth manufacturing site for plasma medicines, alongside its historic base in Barcelona. Read More>> MilliporeSigma opens viral clearance lab in China The company has completed the first construction phase of its China Biologics Testing Center, opening a viral clearance laboratory in Shanghai. The 5,000 square meter center is the first of its kind for the firm in China and by adding viral clearance study capacity, it is supporting what it considers as one of the most critical steps in drug development. Read More>> Nordson opens Mexico Facility The company has announced the official opening of its Tecate, Mexico, Medical Device Manufacturing Center of Excellence. The facility is 58,000 sq. ft and FDA-registered. The company-initiated production at the Mexico facility at the beginning of 2022 and, according to Nordson, has the capacity for further customer growth. Read More>>Deal Zalaris to deliver outsourced payroll services based on PeopleHub to Amplifon Deutschland GmbH The company announced the signing of an agreement with Amplifon Deutschland GmbH to provide outsourced payroll services in Germany. Amplifon has signed a five-year agreement with Zalaris for the digitalisation of its payroll solution and for providing outsourcing services, both based on Zalaris PeopleHub, to its 2,000 employees in Germany. Read More>>Merger and Acquisition Cordis to acquire MedAlliance, known for its drug-eluting balloons, in a deal that could surpass USD 1 Bn The company has agreed to acquire MedAlliance, a Switzerland-based healthcare technology company focused on drug-eluting balloons, for an initial investment of USD 35 Mn and an upfront closing payment of USD 200 Mn. Read More>>Partnership GE Healthcare, AMC Health to partner on remote patient monitoring GE Healthcare and AMC Health are partnering to offer remote patient monitoring. Through this partnership, AMC Health will pair its remote patient monitoring suite with GE’s clinical monitoring product line. The partnership aims to provide clinicians with home monitoring data that can be used to make decisions regarding further medical intervention. Read More>>Executive movement Starkey names Landherr new CFO Eden Prairie-based Starkey announced its new chief financial officer will be Kenny Landherr. He is an industry veteran who prior to being named CFO, managed many finance functions at Starkey, including but not limited to, treasury, tax, credit, commercial finance, financial planning and analysis, and business development. Read More>>Financial and market activity Integra LifeSciences shares surge on Q3 beat The company reported Q3 FY22 sales of USD 385.19 Mn, -0.4% Y/Y on a reported basis, and +3.5% organic, beating the consensus of USD 381.24 Mn. Adjusted EPS stood at USD 0.86, ahead of the Street estimate of USD 0.73. The company completed the sale of its non-core traditional wound care business at the end of August 2022. Read More>>
Key Insights and Signals in Pharmaceutical
Centre Setup and Expansion Pfizer to invest USD 1 Bn in new Dublin biotech plant The company is planning to invest more than 1 billion in a new, state-of-the-art biotech manufacturing facility at its Grange Castle site in Dublin, the Business Post has learned. The new facility planned for the Grange Castle campus in west Dublin will form part of its global network of specialty biotech manufacturing plants. Read More>> Recipharm strengthens pre-filled syringe and cartridge offering with a new investment This will further enhance the company’s comprehensive manufacturing offering for injectable products that require sterile filling. The investment will expand its manufacturing footprint by adding a state-of-the-art, high-speed filling line for pre-filled syringes and cartridges. Read More>>Merger and Acquisition Eli Lilly to buy gene therapy company Akouos for USD 487 Mn The announcement comes as the drugmaker aims to bolster its arsenal of gene therapies targeting various disabilities. The deal also includes a payment of USD 3 per share contingent on certain events related to drug trials and can potentially increase the transaction size to USD 610 Mn. Read More>> AbbVie acquires DJS Antibodies, further strengthening immunology pipeline A key benefit of this acquisition is for the company, through DJS, to access the HEPTAD platform as a complement to its current robust capabilities in biotherapeutics research. Under the terms of the agreement, AbbVie will pay DJS shareholders approximately USD 255 Mn in cash at closing for the acquisition of DJS. Read More>>Partnership Zentalis Pharmaceuticals announces first ZN-c3 clinical development collaboration with Pfizer The company announced a strategic collaboration with Pfizer. They will initiate a Phase 1/2 dose escalation study of ZN-c3 in combination with Encorafenib and Cetuximaban FDA-approved standard of care known as the BEACON regimen. Read More>>Executive Movements Mallinckrodt announces appointment of Lisa French as Chief Commercial Officer The company announced the appointment of new Chief Commercial Officer as Ms. French. She brings more than 30 years of commercial biopharmaceutical experience and will oversee the development and execution of Mallinckrodt’s commercialization strategy. She will serve on the Executive Committee. Read More>> Shankar Gupta rejoins ACG as Chief Sales Officer The company announced Shankar Gupta will be re-joining the business in the newly created role of Chief Sales Officer. In his new role, Shankar will be responsible for driving sales across all four ACG divisions to continue building the company’s ‘One ACG’ agenda. He will also focus on scaling new initiatives. Read More>> Amarin appoints Adam Berger and Geraldine Murphy to Board of Directors The company announced the appointment of Adam Berger and Geraldine Murphy as independent members of the Company’s Board of Directors, effective immediately. Read More>>Financial and Market Activity Avantor reports third quarter 2022 results For the three months ended September 30, 2022, net sales were USD 1.86 Bn, an increase of 1.2% compared to the third quarter of 2021. Net sales were USD 595.1 Mn, a reported decrease of 11.8%, as compared to USD 674.7 Mn in the third quarter of 2021. Read More>> AbbVie reports mixed earnings, tightens guidance, lifts quarterly dividend The company reported Q3 adjusted EPS of USD 3.66, up 29.3% Y/Y and beating the consensus of USD 3.59. reported Q3 adjusted EPS of USD 3.66, up 29.3% Y/Y and beating the consensus of USD 3.59. Overall sales increased 3.3% Y/Y (5.4% on an operational basis) to USD 14.81 Bn, missing the consensus of USD 14.96 billion. Read More>>
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Latest Industry Insights from Draup Braindesk
Braindesk Insights:
Medable has focused on strengthening its business by taking over mobile applications, patient-centered solutions to the platform, and by building a talented team with significant experience in digital health and artificial intelligence.
Medable focuses on expanding clinical trial access and patient engagement by allowing patients to take part in Phase III and IV clinical trials more easily.
Medable is launching the Medable Partner Network that unites a diverse ecosystem of technology, service, data, site, and direct-to-patient to accelerate the deployment of decentralized clinical trials.
San Francisco Bay Area, United States servers as the key hub for various operations such as Application Development & Maintenance and Cloud Computing related engagements. Persistent Systems is the key strategic outsourcing partner for Medable, Inc.
Funding Alert
Tempus raises USD 275 Mn to combat three of drugmakings biggest Challenges
Biotech upstart company announced that it raised USD 275 Mn through equity from previous investors and debt financing from Ares Management. Chicago-based Tempus specializes in artificial intelligence and precision medicine for a slew of different use cases. Using AI, the platform can help doctors understand disease progression and what is driving the disease. Through genomic sequencing, the platform can analyze patient health at the granular level, enabling physicians to understand why a patient has a disease. Earlier this week, Tempus nabbed USD 70 Mn from GSK to use their patient data to improve speed and efficiency in clinical trials. Read More>>
Startup Spotlight
Company – Ansa Biotechnologies Total Funding– USD 83.42 Mn About: Ansa Biotechnologies is manufactured via a chemical method that has remained essentially unchanged for 35 years and has approached a plateau. Ansa Biotechnologies is developing a novel DNA synthesis technology based on enzymes that will be more fast, accurate, and clean than existing methods. The technique promises to dramatically accelerate innovation in biological research and engineering. Read More>>
Latest Reports Published in Draup
Healthfirst Account Intelligence Report
Healthfirst. Inc. is committed to delivering the gold standard in infection prevention solutions that customers can rely on to provide safe and clean environments for patients and staff. Read More>>
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