Medtech in a Minute: Acutus Cuts May Not Be Steep Enough

Acutus Restructures, But Are Steeper Cuts Needed?

COVID-related challenges including hospital access constraints, restrictions on new technology evaluations, and staffing shortages are the reasons Acutus cited for putting into action a restructuring plan to save $23 million to $25 million in annual operating expenses. However, at least one medtech analyst has questioned whether or not the cuts are steep enough.

"The cuts will postpone the need for funding, but we believe steeper cuts are needed, particularly if [the company's] revenue outlook is affected by salesforce disruption and attrition," wrote Marie Thibault, a medtech analyst at BTIG, in a report issued January 20.

Bausch + Lomb Files IPO Paperwork

Bausch + Lomb is one step closer to becoming an independent company. The eye care business has filed IPO paperwork – a measure that would move it away from Bausch Health, its parent company. The spinout is part of a measure that would move create three separate companies, which include Bausch +Lomb eye health business, Solta Medical Aesthetics, and Bausch Pharma Global.

Medtronic Data Wows at NANS

Medtronic made use of the recent North American Neuromodulation Society (NANS) meeting by presenting three-month results from a study showing meaningful pain relief using Differential Target Multiplexed (DTM) spinal cord stimulation (SCS) endurance therapy, a modified, lower-energy variation of the company's DTM SCS therapy for chronic pain. Modeling based on actual three-month data also shows that DTM SCS endurance therapy enables between 5.5 years and 7.5 years device longevity when programmed on Medtronic's Vanta recharge-free neurostimulator. For those in need of a rechargeable device, DTM SCS endurance therapy programmed on the Intellis rechargeable neurostimulator allows either rapid recharge (5 minutes a day) or recharges of about one hour every 12 days.

And in case you missed our last Medtech in a Minute report...

Dexcom G7 data is 'incredibly impressive'

At the J.P. Morgan Health Care Conference, Robbie Marcus, a senior analyst at J.P. Morgan, remarked that the Dexcom G7 data is "incredibly impressive ... accurate amongst pediatrics and adults, and that's very difficult to do across all days, across all metrics." Presented to the public for the first time at the virtual conference, the study dataset is three times larger than Dexcom's G6 dataset, and "much larger" than any dataset in the industry for continuous glucose monitoring systems, according to Dexcom CEO Kevin Sayer.

iRhythm Gets Some Good News, Finally

iRhythm hit some major reimbursement speed bumps last year, but things appear to be looking up. Medicare Administrative Contractor (MAC) Novitas posted updated rates this week that are more favorable for the company's Zio Patch technology, compared to the drastically slashed rates the MAC posted nearly a year ago.

J&J Is Working with Microsoft

Medical device companies like Johnson & Johnson are turning to big tech partners as they embrace the ‘digital revolution.’ Case in point, Johnson & Johnson is collaborating with Microsoft to expand its digital surgical ecosystem. As part of the strategic partnership, Microsoft will serve as J&J's preferred cloud provider for digital surgery solutions. Microsoft also will help J&J build out its digital surgery platform and internet of things (IoT) device connectivity.