Philips picks up airway clearance device dev RespirTech

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Philips, RespirTech

Royal Philips (NYSE:PHG) said today it inked a deal to acquire airway clearance solution developer RespirTech for an undisclosed amount.

St. Paul, Minn.-based RespirTech was founded in 2004 and has approximately 210 employees. The company produces airway clearance devices for patients with chronic respiratory conditions, such as chronic obstructive pulmonary disease and cystic fibrosis.

Philips said that the addition of RespirTech’s portfolio will allow Philips to “accelerate its growth in respiratory care,” specifically for COPD patients with bronchiectasis. The acquired portfolio includes a clinical support program for managing respiratory patients at home, and Philips said it will support their own clinically focused service plans.

RespirTech produces the inCourage system pulsating vest designed to aid in respiration at home and the single patient-use ClearChest comfort vest and bands for hospital use, which use rhythmic inflation and deflation against a patient’s chest to help clear the lungs.

“With this transaction, we will broaden our portfolio with a proven therapy to enable patients with chronic respiratory disorders manage their condition and receive the care they need in the home. RespirTech’s vest therapy can be applied to a range of respiratory conditions and various neuromuscular diseases, where patients’ compromised abilities to cough often leads to serious respiratory complications and associated higher care costs. By helping these patients help themselves, we aim to enhance the patient’s quality of life and reduce the overall cost of care,” sleep & respiratory care biz lead John Frank said in a press release.

Hill-Rom launches Envella therapy bed for wound care patients

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Hill-Rom

Hill-Rom Holdings (NYSE:HRC) said today it launched its Envella air fluidized therapy bed designed for wound care and patients with advanced wounds.

The Envella bed was unveiled at the Wound Ostomy and Continence Nurses Society Annual Conference in Salt Lake City, Utah this week, the Chicago-based company said.

Hill-Rom said that the Envella air fluidized therapy bed is designed to maximize immersion and envelopment and minimize shear and pressure, as well as regulating the skin’s microclimate. The company claims the technology can lead to better outcomes in patients with complex and advanced wounds .

“Pressure injuries present a significant challenge for the entire healthcare environment. Across the care continuum, pressure injuries are quite common, cause serious concerns both to patients and their caregivers, and create financial burdens for the healthcare system. The Envella bed’s differentiated technology provides an ideal healing environment for the prevention and treatment of advanced pressure injuries,” patient support systems prez Paul Johnson said in a press release.

In April, Hill-Rom said it launched the Monarch airway clearance system designed to provide high frequency chest wall oscillation.

The Monarch device is a mobile vest which uses personal oscillating discs to provide targeted kinetic energy and HFCWO to the lungs to thin mucus and generate airflow, the company said.

China’s Peaceful Union buys ClearSight Medical parent Sharklet Technologies

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ClearSight

Chinese equity medical device firm Peaceful Union has acquired intraocular lens developer ClearSight‘s parent company, Sharklet Technologies, for an undisclosed amount.

ClearSight is developing the ClearSight next-generation presbyopia-correction IOL, which it claims will improve upon current multifocal and accommodating IOL technologies.

The company said its ClearSight IOL has an extended depth of field through the use of a novel design concept which allows the focal plane of the lens to extend without glares and halos traditionally associated with optical zone shifts.

ClearSights IOL also features anti-glistening material to improve visual quality and a square-edged membrane to protect the optic against LEC migration and prevent lens opacification, according to the company’s website.

“We believe that the biomimetic approach used by Sharklet Technologies will not only produce the most advanced IOL, but will most likely enhance the performance of a wide range of ophthalmic products,” ClearSight CEO Dr. Khalid Mentak said in a press release.

EDAP touts CMS reimbursement win for HIFU prostate ablation

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EDAP TMS

Edap (NSDQ:EDAP) today touted that the Centers for Medicare & Medicaid Services established reimbursement billing codes for high intensity focused ultrasound ablation procedures for prostate tissue.

The French company said that the new CMS C-code covering HIFU ablation of prostate tissue procedures will take effect July 1. The code will cover procedures performed by its HIFU devices, including whole primary gland prostate ablation, partial prostate ablation or whole and partial salvage ablation.

“We are elated by CMS’s decision. This is another key milestone in the acceptance and recognition of HIFU technology in the U.S. as reflected by CMS’s celerity in addressing the dossier, establishing a c-code and assigning a competitive coverage level. It will provide a choice between recognized therapies based solely on clinical need and evidence. The C-code is a significant achievement and opens the door to broader coverage from different payers, including private and commercial payers. We will now transition our efforts toward expanding coverage and physician education to make our innovative technology available to all patients in the U.S. I would like to thank Jerry Stringham, president of the reimbursement strategy consulting firm Medical Technology Partners for all of his hard work. Jerry has been instrumental in directing our efforts towards reimbursement. We look forward to continuing to work with his experienced team while we pursue additional reimbursement for HIFU procedures,” EDAP CEO Marc Oczachowski said in a prepared statement.

Last April, EDAP inked an agreement with institutional investors for the placement of 3.3 million shares at $3.50 a piece, bringing in an estimated $11.5 million for the company.

Investors in the round received warrants to purchase up to 3.3 million shares at an exercise price of $4.50 per share, exchangeable beginning 6 months from the date issued and for a period of 2 years after, Edap said.

Avery Dennison picks up Finesse Medical

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Avery Dennison, Finesse Medical

Avery Dennison said today it acquired wound care device developer Finesse Medical for and undisclosed amount.

Ireland-based Finesse Medical specializes in developing wound care and skin treatment technologies, including skin barrier films and protection creams and silicone and polyurethane foam wound dressings, according to Avery Dennison.

“Finesse Medical is a top quality manufacturer with a strong track record for developing and commercializing effective, high-value products in the medical sector. This acquisition will accelerate the achievement of our long-term strategic and financial goals for our industrial and healthcare materials segment,” Avery Dennison prez & CEO Mitch Butier said in a press release.

“Finesse Medical is a great strategic fit with Vancive Medical Technologies. Its innovative portfolio of silicone gels and polyurethane foam dressings builds on and complements our existing products in wound care. And its converting and packaging capabilities will enable us to offer expanded manufacturing services to our customers,” Avery Dennison industrial & healthcare materials group GM Mike Johansen said in a prepared statement.

Finesse Medical reported revenues of approximately $16.8 million (EU €15 million) last year, according to Avery Dennison.

“Uniting our two healthcare businesses is a strategic win for both organizations and our global customer base. Our companies share a strong commitment to quality, service and innovation. Avery Dennison brings important new strengths to our business, including key relationships in the U.S. healthcare industry, new global sales and distribution channels for our products, and coating and roll manufacturing expertise that deepens our service offerings,” Finesse Medical marketing & business dev. director Martin Dowd said in a press release.

Zimmer Biomet licenses knee patents from Bonutti

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Zimmer Biomet

Zimmer Biomet (NYSE:ZBH) said today it inked a deal with device incubator Bonutti Research for 2 families of patents related to knee technologies.

The Warsaw, Ind.-based company licensed a patent which Bonutti says “adds to the strength” of the Persona personalized knee system and its NexGen Complete knee solution.

Zimmer-Biomet also licensed 2 other patents from Bonutti which it said will support the development of the Rosa robotic total knee appliction that is currently underway, according to a press release.

Last month, Zimmer Biomet saw shares drop after the orthopedics giant beat Wall Street’s 1st-quarter forecast but lowered its outlook for the rest of the year.

The company posted profits of $299.4 million, or $1.47 per share, on sales of $1.98 billion for the 3 months ended March 31, for bottom-line growth of 175.2% on sales growth of 3.8% compared with Q1 2016. Adjusted to exclude 1-time items, earnings per share were $2.13, 2¢ ahead of The Street, where analysts were looking for sales of $1.96 billion.

But the company also lowered its guidance for the rest of the year, saying it now expects adjusted EPS of $8.50 to $8.60, compared with its prior outlook of $8.50 to $8.68. Sales are now pegged at $7.84 billion to $7.92 billion, compared with $7.86 billion to $7.93 billion previously.

Ocular Therapeutix shares fall on Q1 miss

Ocular Therapeutix Shares in Ocular Therapeutix (NSDQ:OCUL)  fell today after the ophthalmologic device developer posted 1st quarter earnings that missed expectations on Wall Street.

The Bedford, Mass.-based company posted losses of $16 million, or 58¢ per share, on sales of $475,000 for the 3 months ended March 31, seeing losses grow 47.8% while sales grew 14.2% compared with the same period last year.

Read the whole story on our sister site, Drug Delivery Business

InVivo says 2 Inspire patients reverted to original injury scale, posts solid Q1

InVivo Therapeutics

InVivo Therapeutics (NSDQ:NVIV) this week said that 2 neuro spinal scaffold trial patients who had reportedly improved have reverted to their original injury state. The company also released 1st quarter earnings which beat the Street, but still saw shares fall.

The company said that a patient it had announced in January had improved from a complete AIS A spinal cord injury to an incomplete AIS B spinal cord injury was recently assessed to have reverted back to a complete AIS A spinal cord injury.

A separate patient, which the company said in March had improved from a complete AIS A spinal cord injury to an incomplete AIS B spinal cord injury, was recently assessed to have been reverted back to a complete AIS A spinal cord injury.

“The AIS grade improvement rate observed thus far in the Inspire study compares favorably to the natural history of spinal cord injury. We look forward to monitoring these patients’ progress as they reach the primary endpoint at six months post-injury and as we work towards completing enrollment of Inspire,” CEO & chair Mark Perrin said in a press release.

The company said that of the 14 patients in the Inspire trial, 8 have reached the study’s 6-month primary endpoint, with 5 of those having received an AIS grade improvement compared to baseline.

The Cambridge, Mass.-based company posted losses of $6.4 million, or 21¢ per share, seeing losses grow 3.5%. Losses per share came in just under the consensus on Wall Street, where analysts had expected to see losses of 22¢ per share.

“In the 1st quarter, we continued to make significant progress at InVivo and with the Inspire study. By early April, we had enrolled four new patients into the Inspire study, with three patients enrolled within 30 days of each other. We also announced four new clinical sites for the Inspire study,” CEO Mark Perrin said in a prepared statement.

Shares in InVivo dropped today nearly 15%, down 50¢ at $2.90 at close.

Sanofi decides to keep Cepia biz

SanofiSanofi (NYSE:SNY) has decided to keep its Cepia chemical unit, a spokesperson for the company said on Friday.

The Cepia division, which deals with what Sanofi calls ‘third party activities’ such as the supply and production of active pharmaceutical ingredients, was previously being considered for sale in a deal that could have been worth up to $1.1 billion (EU €1 billion).

Read the whole story on our sister site, Drug Delivery Business

Avinger shares dive on Q1 miss

AvingerShares in Avinger have fallen over 15% today after the medical device maker missed expectations on Wall Street with its 1st quarter earnings results.

The Redwood City, Calif.-based company posted losses of $15.3 million, or 64¢ per share, on sales of $3.5 million for the 3 months ended March 31, seeing losses shrink 5.1% while sales shrunk by 23.1% compared with the same period in the previous fiscal year.

Read the whole story on our sister site, Medical Design & Outsourcing