Key Insights and Signals – Hospital & Healthcare
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Partnerships
Toronto Public Health collaborates with Unity Health and University Health Network
The company has partnered with Unity Health Toronto and the University Health Network to expand frontline services to address the drug poisoning crisis. Read More>>
Walmart partners with CareSource to address Racial Health Inequities
This collaboration is a step towards providing more comprehensive and culturally appropriate healthcare services for Medicaid, Medicare, and other health plan beneficiaries. Read More>>
TruLite Health partners with Parkview Health to address health equity
The Truity platform will promote health equity by providing clinical interventions that address common health equity challenges faced by caregivers. Read More>>
Centre Setup and Expansion
OhioHealth announces USD 400 Mn expansion for Grant Medical Centre
The project will include a new seven-story trauma center, emergency department, and critical care pavilion, as well as a new ambulatory building and additional parking. Read More>>
Mass Hiring
Community Healthcare System looks to hire
The company is looking to hire healthcare professionals, including new college graduates. The jobs are open to a wide range of healthcare workers in all areas of the industry. Read More>>
Executive Movements
Quest Diagnostics Board elects CEO & President James E. Davis as Chairman of the Board
James E. Davis will take on the additional role of Chairman of the Board, effective April 1, 2023. Mr. Davis will succeed former CEO Steve Rusckowski. Read More>>
Mount Sinai Medical Center in Miami names new Chief Medical Officer
The company has appointed Alon Weizer, MD, as its new Chief Medical Officer and Senior VP, replacing Robert Goldszer, MD, who held the position for the last 14 years. Read More>>
InnovAge names Christine Bent as COO
Bent will oversee InnovAge’s operations at its existing PACE centers and develop new programs in new markets. Read More>>
Financial and Market Report
Cone Health begins fiscal 2023 with a decline in excess revenue
The company reported a decrease in excess revenue over the expense of 22.7% to USD 26 Mn. The operating revenue increased by 2.5% to USD 649.3 Mn during Q1 of fiscal 2023. Read More>>
Spire Healthcare swings to 2022 Pre-tax Profit
The company announced a pre-tax profit of USD 4.1 Mn, a significant improvement from the previous year’s loss of USD 2 Mn. The company is optimistic about the future, thanks to the strong demand for its private healthcare services. Read More>>
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Key Insights and Signals in Medical Devices
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Deal
Mass General Brigham selects Medline as a strategic vendor for medical supplies
This agreement expands their strategic relationship beyond third-party logistics solutions to include supply chain optimization and logistical expertise to advance resiliency efforts. Read More>>
Product Launch
Esaote unveils new MLX90 at ECR 2023
The MyLab X90 ultrasound system includes ClearWave architecture, which helps to ensure that images are clear and easy to interpret, even in challenging scanning conditions. Read More>>
ZEISS Xradia 630 Versa introduces resolution performance for research
The newest addition to the ZEISS Xradia Versa family breaks resolution performance barriers, delivers an intuitive user experience, and boosts productivity for all with easy workflows. Read More>>
QDOT Micro, under Johnson & Johnson Medical Technology, was officially approved in China
The new generation of disposable pressure monitoring radiofrequency ablation catheters in China is an exciting development in the treatment of atrial fibrillation. Read More>>
Financial and Market Activity
Paragon 28 reports Q4 and Full Year 2022 Financial Results
The company had a consolidated net revenue of USD 51.5 Mn in Q4 of 2022, a 20.4% growth. The net loss reported was USD 38.8 Mn, higher than the net loss of USD 6.2 Mn. Read More>>
Executive Movements
Jens Schroeder Kemp joins AxoGen as Chief Marketing Officer
In this role, Kemp will be responsible for leading the company’s marketing strategies and will report directly to AxoGen’s CEO and President Karen Zaderej. Read More>>
Tandem Diabetes Care appoints new Chair of Board
Ms. Robertson, who joined Tandem’s Board as an independent director in January 2019, succeeds Kim Blickenstaff, who will continue as a member of the Board. Read More>>
Accelerate Diagnostics, Inc. announces board changes
The company announced the retirement of two of its Board members, and the Board appointed Hany Massarany as the new Chairman of the Board. Read More>>
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Key Insights and Signals in Pharmaceutical
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Partnerships
AbbVie and Capsida strike USD 674 Mn Gene Therapy Development Deal
The partnership will see AbbVie and Capsida work together to identify and advance three programs using Capsida’s novel adeno-associated virus platform. Read More>>
Akums Drugs and Lyrus Life Sciences ink pact to develop patented technologies
The collaboration aims to introduce patient-friendly formulations and patented drugs that will address unmet medical needs, including obesity, diabetes, psoriasis, etc. Read More>>
Merger and Acquisition
Ipsen acquires Albireo to expand the scope of its Rare Disease Portfolio
The company has acquired Albireo Pharma, a biopharmaceutical company focused on rare liver diseases, to enrich its rare disease portfolio. Read More>>
Layoff
Johnson & Johnson set to lay off 57 workers as it closes Greenfield plant
The company will eliminate 20 positions during the first 14-day window. The Greenfield plant manufactured OTC products such as Pepcid and Imodium. Read More>>
Hundreds of employees laid off at Akorn Pharmaceuticals’ Amityville location
The company is filing for bankruptcy, and the Illinois Department of Labor will be investigating Akorn’s handling of the facility closures and layoffs. Read More>>
Product Launch
Natco Pharma launches generic version of cancer treatment drug in Canada
The Company launched generic Pomalidomide capsules in Canada, which will provide affordable treatment options for patients with multiple myeloma. Read More>>
Financial and Market Report
Amneal reports Q4 and full-year 2022 financial results
The company’s net revenue increased by 14% to USD 610 Mn compared to the same period in the previous year. The company’s net loss attributable was USD 4 Mn. Read More>>
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Latest Industry Insights from Draup Braindesk
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Key Product and Technology Investment Areas
- Molina Healthcare wants to equip providers with training and volunteer specialists for high-quality, specialty treatments.
- The company focuses on providing home-based medical care and social support to lower hospital utilization.
Outsourcing Opportunities
- Molina Healthcare has ~66 outsourcing partners. Infosys, Cognizant, and Infinite Computer Solutions are the major service providers.
- Application Development & Maintenance and Reporting & Analytics are the major outsourced segments for Molina.
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Key Funding Alert
University Hospitals to invest USD 25.5 Mn in Lake County medical centers
The company is investing to modernize and improve the capabilities of two medical centers, UH Lake West and TriPoint. This investment is the first major renovation to UH Lake West since 2005. Read More>>
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Startup Spotlight
Company – Qunomedical
Total Funding – USD 12.31 Mn
About: Qunomedical is a digital health platform that provides access to high-quality, affordable healthcare. No two patients are alike–from their medical needs to their emotional, everyone has different priorities, and Qunomedical personalizes its services accordingly. Read More>>
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Latest Reports Published in Draup
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STERIS Corporation Account Intelligence Report
STERIS is keen on offering sterility assurance products, automated endoscope reprocessing systems, and tracking products for the sterile processing department (SPD). Read More>>
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Baxter International Inc. – Account Intelligence Report
Baxter International is committed to developing medical solutions for kidney patients to save lives and improve their outcomes in the fight against the illness. Read More>>
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