Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
3. Tandem Diabetes inks Dexcom deal, beats Q2 estimates
Tandem Diabetes Care reported a couple of wins, announcing a deal to integrate its insulin pumps with Dexcom’s continuous glucose monitors and beating expectations with its 2nd-quarter results.
“Integrating Tandem’s next generation pump platform with Dexcom’s future CGM systems is an important step in aligning our technologies to be used in automated insulin delivery applications,” president & CEO Kim Blickenstaff said in prepared remarks. “We are committed to continue advancing the clinical applications of Tandem’s technology and are pleased to expand our relationship with Dexcom in support of this effort.” Read more
2. ResMed buys China’s Curative Medical, gains on Q4 beat
ResMed said it paid an unspecified amount to acquire Chinese respiratory device maker Curative Medical and reported fiscal 4th-quarter results that beat Wall Street’s expectations.
San Diego-based ResMed said Curative will operate under its own banner under founder & CEO Jason Sun. Curative’s vascular business was not a part of the deal, which is expected to close by the end of the year, ResMed said. Read more
1. GAO: Medtech’s profits jumped 44% in a decade
Profits for medical device companies rose 44% between 2004 and 2014 on 43% sales growth, according to the U.S. Government Accountability Office, which tallied the results from 102 medtech firms at the request of Senate minority leader Harry Reid (D-Nev.).
Profits for the companies included in the report (which excluded firms like Johnson & Johnson that make products other than medical devices) rose from about $11.4 billion in 2005 to about $16.5 billion in 2014 at an average annual increase of roughly 4%. Profits declined during 3 periods, according to the report, falling from $11.4 billion to $9 billion from 2005 through 2006, from $14.0 billion to $10.4 billion from 2007 through 2009, and from $17.5 billion to $13 billion from 2011 through 2012. Read more
The post MassDevice.com +3 | The top 3 medtech stories for July 31, 2015 appeared first on MassDevice.
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