The U.S. Food and Drug Administration (FDA) on Thursday classified the recall of certain respiratory masks made by ResMed (RMD.N) as most serious as their use could cause major injuries or death.
The big unknown in the sleep apnea world continues to be when Philips will re-enter the market. ResMed has more than risen to the challenge of meeting unprecedented demand in the competitor's absence, but now medtech analysts are wondering if ResMed's sleep apnea market share gains are peaking.
The sales a medtech company reaps per worker it employs is not the only measure of its efficiency, but it can be useful. It certainly highlights the tribulations of the sector through Covid, with 2021’s data indicating a major recovery in revenues and market cap among orthopaedics and cardiology companies.
It is still Intuitive Surgical that reigns supreme on this measure, however. At $490,000 in 2021 the robotic surgery leader’s sales per employee have ticked up from 2020 as lockdowns lifted and hospitals reopened for non-emergency procedures. This figure is still 4% lower than pre-pandemic 2019’s number, though, so the company has more ground yet to regain.
ResMed and Verily have formed a joint venture to provide personalized care to address sleep disorders.
The venture, named Primasun, will screen people online, connect them virtually to sleep specialists and provide at-home testing, treatment and personalized coaching as needed.
As Philips continues to work through its massive recall initiated 15 months ago impacting ventilators and sleep apnea devices, ResMed continues working to keep up with excess demand for CPAP (continuous positive airway pressure) devices created by the competitor's recall.
ResMed yesterday announced the acquisition of Leipzig, Germany-based company, mementor, which the company is hopeful will strengthen its overall sleep portfolio in the country. mementor, which was founded in 2014, owns the digital insomnia therapy solution, somnio.
The “unlimited demand” for ResMed’s sleep apnea machines has given the San Diego, CA-based company the capital to become involved in some heavy-duty M&A. ResMed said it had signed a definitive agreement to acquire Medifox Dan for about $1 billion.
MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — has hit new heights over the course of 2020, indicating the upward trajectory of the industry. Over the course of the year, the index grew from a total of $86.86 to $104.55, representing a 20.4% increase.
Outside of the pharmaceutical space, many medtech companies experienced their own blossoming on the markets. Here are some of the top performing medtech stocks over the course of the crazy year that was 2020
Medical device and drug recalls, whether voluntary or mandated by the FDA, ensure patient safety. Over the course of 2020, several large-scale recalls of medical devices, supplies and drugs have taken place.
The Covid-19 pandemic has scythed vast sums from joint makers’ Q2 sales. But Medtronic’s summer earnings were better than those for its spring quarter.