Philips leverages Precision Diagnostics to deliver a seamless patient experience

Key Insights and Signals – Hospital & Healthcare

Centre Setup
Henry Ford Health & WIN opened a new Prenatal Care Center to lower infant mortality
The new center will increase the number of families participating in this program from about 100 per year to more than 250 per year. Read More>>
Prisma Health expanding cardiology services in Sumter
Prisma’s Cardiology Dept. is expanding to a newly renovated practice located on the Tuomey Hospital campus. The expansion will double the previous space with twenty-one exam rooms. Read More>>
Centra and LifePoint Health Rehabilitation plan new Inpatient Rehabilitation Facility
The new rehabilitation facility will serve the needs of the greater Lynchburg community. This project is estimated to take two years, and the new facility is scheduled to open in 2025. Read More>>
Nebraska’s Bryan Health tasks Medline with supply distribution in a USD 140 Mn deal
Bryan will be able to use Medline’s advanced analytics platforms to easily monitor key metrics, including item utilization, contract compliance, price accuracy, and spending by product categories. Read More>>
MedZed partners with Molina Healthcare to lower hospital utilization in the San Diego area
The program aims to help vulnerable populations become more medically stable by ensuring they get to all the specialists they need and teaching them self-management skills. Read More>>
Executive Movements
Quest Diagnostics: Jim Davis Becomes CEO and President, Joins Board
Mr. Davis joined Quest Diagnostics in 2013 as Senior VP of Diagnostics Solutions. Over the last two and a half years, he has led the company’s operational response to the COVID-19 pandemic. Read More>>
Munson Healthcare names new COO, new Chief of Human Resources
The Healthcare named Laura Glenn as COO and appointed Shelley Spencer as CHRO. Ms. Glenn will manage the health system’s inpatient, outpatient, and physician network operations in her new role, while Ms. Spencer will lead the talent front. Read More>>
Atrium Health Navicent names CFO
Kim Shrewsbury previously served in CFO roles at several hospitals and health systems. In her new role, she will serve as the key financial advisor to the CEO, executive team, and board. Read More>>
Financial and Market Activity
LifeStance Health Group (LFST) reports Q3 loss, lags revenue estimates
The company came out with a quarterly loss of USD 0.11 per share versus the Zacks Consensus Estimate of a loss of USD 0.15. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Read More>>
Clover Health posts USD 75.3 Mn loss in Q3
The Insurtech company posted a USD 75.3 Mn net loss in the third quarter of 2022, nearly double the USD 34.5 Mn loss it reported in the same period last year. The company reported total revenue of USD 856.8 Mn, up from USD 427 Mn in the same period last year. Read More>>

Key Insights and Signals in Medical Devices

BARDA awarded Hologic a contract worth USD 19 Mn to support R&D
This funding will help to bring Hologic’s Panther Fusion® SARS-CoV-2/Flu A/B/RSV assay and Aptima® SARS-CoV-2 assay in line with the FDA’s IVD standards. Read More>>
NanoString and Abcam expand collaboration to advance Spatial Multiomics Research
Under the terms of the agreement, Abcam RabMAb recombinant antibodies will be commercialized as part of the first 64-plex protein panel for NanoStrings CosMx Spatial Molecular Imager. Read More>>
Executive Movements
GN Store Nord announces the appointment of new CEO in GN Audio
Peter Karlstromer will join GN and assume his new role as of January 16, 2023. With this leadership transition, GN’s Board of Directors wishes to reconfirm GN Audio’s GTM strategy. Read More>>
Amwell appoints Robert Webb to Board
Mr. Webb will further strengthen the Amwell Board and market position, bringing deep healthcare technology leadership experience stemming from his more than 30 years as a growth executive, operator, and investor. Read More>>
Financial and Market Activity
Steris Q2 Earnings and Revenues miss estimates
The company came out with quarterly earnings of USD 1.99 per share, missing the Zacks Consensus Estimate of USD 2 per share. A quarter ago, it was expected that this medical products maker would post earnings of USD 1.90 per share when it produced earnings of USD 1.90. Read More>>

Key Insights and Signals in Pharmaceutical

Centre Setup and Expansion
Almirall opens a new subsidiary for the Czech Republic and Slovakia
The subsidiary will be managed from Prague by the recently appointed Czech Republic & Slovakia General Manager, David Festa. The new affiliate supports Almirall’s growth plan and offers treatments to more patients with dermatological illnesses. Read More>>
Exelixis and Catalent enter into a new licensing agreement for three Antibodies
Catalent is using its SMARTag bioconjugation technology to produce ADCs from Exelixis’ preclinical pipeline. Exelixis will pay Catalent USD 30 Mn upfront for rights to the three biologics programs. Read More>>
Merger and Acquisition
Oyster Point Pharma Inc. to be acquired by Viatris for USD 11 per share plus CVR
Viatris intends to acquire Oyster Point Pharma as the foundation of its new ophthalmology franchise, recognizing its uniquely talented team, the strength of TYRVAYA® (varenicline solution) Nasal Spray and Oyster Point Pharma’s pipeline. Read More>>
Incyte & Mirati Therapeutics enter into Clinical Trial Collaboration & Supply Agreement
The two companies announced a clinical trial collaboration and supply agreement to investigate the combination of INCB99280, Incytes small molecule PD-L1 inhibitor, and adagrasib, a KRASG12C selective inhibitor. Read More>>
Executive Movements
Biogen names former Sanofi Chief Christopher Viehbacher as President, and CEO
Mr. Viehbacher, who will also join the board, succeeds Michel Vounatsos, who has led Biogen since 2017. The company announced Mr. Viehbacher will receive an annualized base salary of USD 1.6 Mn. Read More>>
Sage Therapeutics appoints Laura M. Gault as Chief Medical Officer
In her new role, Dr. Gault will focus on advancing Sages current and emerging product pipeline through all stages of development. Read More>>
Financial and Market Activity
Alimera Sciences scheduled to post Quarterly earnings
The company is scheduled to be issuing its quarterly earnings data before the market opens. The company’s 50-day SMA is USD 5.61, and its two-hundred-day SMA is USD 5.71. Alimera Sciences has a 1-year low of USD 3.94 and a 1-year high of USD 7.92. Read More>>
German pharmaceutical firm Merck posts 17% third-quarter sales boost
Despite rising costs, the pharmaceutical group’s sales climbed by almost 17% year-on-year between July and September, to USD 5.9 Bn from USD 5 Bn. Read More>>
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Latest Industry Insights from Draup Braindesk

Braindesk Insights: 

  1. Highmark Health provides actionable insights for patients and professionals to engage in health care and establish evidence-based treatment pathways across the healthcare continuum. 
  2. Based on this information, Highmark Health offers non-traditional treatments to enhance healthy living, such as linking clients to food insecurity programs. 
  3. Highmark Health focuses on a technology-enabled system that offers reliable data regarding health barriers, including safe housing, transit, work prospects, and nutritious diets. 
  4. Greater Pittsburgh is a key location for Software Testing, IT Consulting, Business Intelligence & Analytics, and Data Engineering. 
  5. Application Development & Maintenance (38%) is the most outsourced segment. Highmark Health outsources to Thryve Digital and HCL.

Funding Alert

Perrigo invests USD 170M to expand U.S. infant formula manufacturing
This strategic investment will boost industry capacity and increase access to safe, affordable infant formula for parents and caregivers. Perrigo also bought Nestle’s Gateway infant formula plant in Eau Claire, Wisconsin, and the U.S. and Canadian rights to Good Start. Read More>>

Startup Spotlight

Company – Bodily
Total Funding USD 7.83 Mn
About: Through evidence-based research and design-led products, Bodily makes solutions available for living confidently in bodies, focusing on birth and pregnancy recovery, and breastfeeding. Read More>>

Latest Reports Published in Draup

Danaher Corporation – Account Intelligence Report
Danaher Corporation focuses on manufacturing safe and cost-effective injectable therapies and providing a fast, final step in manufacturing clinical and commercial biopharmaceuticals. Read More>>
Insulet Corporation Account Intelligence Report
Insulet Corporation focuses on regulating insulin levels using a smartphone app or the free Omnipod 5 Controller. Read More>>
Royal Philips NV Account Intelligence Report
Koninklijke Philips leverages its precision diagnostic through radiology, pathology, and integrated cardiology solutions to improve the patient experience. Read More>>
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