Medtech in a Minute: Medtronic Eyes Portfolio Changes, and More

Quickly catch up on the latest medtech news from Medtronic, Abbott, Beta Bionics, and others.

Amanda Pedersen

February 28, 2022

3 Min Read
Medtech news
Graphic by Amanda Pedersen / MD+DI

Medtronic Eyes Portfolio Changes

Medtronic CEO Geoff Martha said the management team will be looking at the company's portfolio with a more critical eye, with a focus on growth, and creating shareholder value.

"I'd be surprised if there weren't changes over the coming fiscal year, but I don't know yet if they will be smaller or more significant," he said.

Based on industry trends and analyst comments, however, there's a good chance that we'll see changes on the larger side. It's also fair to keep in mind that, because of Medtronic's size and scope, even a smaller change could be viewed as a big change from an outsider's perspective.

Abbott Scores New CardioMems Indication

Abbott won a new indication for the CardioMems Sensor to be implanted in NYHA Class II patients. The newly cleared FDA indication will allow it to reach an additional 1.2 million people living with heart failure. The device, which is about the size of a paper clip and placed in the pulmonary artery during a minimally invasive procedure, first won approval from FDA nearly eight years.

Beta Bionics Snags $57M for Bionic Pancreas

In a strong show of support for the company's iLet Bionic Pancreas, Beta Bionics has raised $57 million in a series C round. The funds will help commercialize the insulin dosing iLet Bionic Pancreas system. This adds to the series B and B-2 financings in 2018 and 2019 that raised about $126 million.

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

Amazon Primed to Disrupt Telehealth

Amason plans to offer telehealth services through its Amazon Care component. Amazon Care was initially launched in 2019 as a pilot program. It has since expanded and plans now call for in-person services to be rolled out in more than 20 new cities this year. The company said Amazon Care provides immediate access to a wide range of urgent and primary care services, including COVID-19 and flu testing, vaccinations, treatment of illnesses and injuries, preventive care, sexual health, and prescription requests and refills. When issues can’t be resolved over video, Amazon Care will dispatch a nurse practitioner to a patient’s home for additional care where in-person care is available, ranging from routine blood draws to listening to a patient’s lungs.

Zimmer Biomet Reveals Spinoff Details

Zimmer Biomet’s dental and spine spinoff, ZimVie, is expected to launch in March and take in about $1 billion in revenue for its first year. Vafa Jamali has already been named president and CEO of ZimVie. As an independent company, ZimVie will be positioned to expand the reach of its solutions and execute on opportunities to drive sustainable growth and long-term shareholder value, Jamali said.

Mary J. Blige Says 'Real Love' Means Prioritizing Annual Screenings

Hologic spent a hefty chunk of its COVID cash on a Super Bowl commercial featuring Mary J. Blige. The "Queen of Hip-Hop-Soul" was featured in a 30-second Super Bowl commercial sponsored by Hologic. The "Her Health is Her Wealth" advertisement highlights how despite her busy life, Mary J. Blige still makes time for her annual well-woman visit.

"I'm a strong believer that a woman's health is her wealth, and I'm proud to participate in this important campaign that puts that message front and center on the world's biggest stage," Mary J. Blige said. "I want women everywhere to know that real love means putting yourself first and prioritizing your annual screenings."

About the Author(s)

Amanda Pedersen

Amanda Pedersen is a veteran journalist and award-winning columnist with a passion for helping medical device professionals connect the dots between the medtech news of the day and the bigger picture. She has been covering the medtech industry since 2006.

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