Becton Dickinson & Company (BD) is spinning off its diabetes care business into a publicly- traded company in the first half of 2022. Devdatt Kurdikar, who currently serves as worldwide president of BD Diabetes Care, will be CEO of the new diabetes company. Kurdikar joined BD in February 2021. The diabetes unit generated revenues of nearly $1.1 billion with 48% of revenues generated outside of the U.S., including 17% of revenues from emerging markets. BD said the decision to spin-off its diabetes unit is part of the company's active portfolio management and consistent with its 2025 business strategy.
Siemens Healthineers is raising its guidance for the year after receiving a huge boost from sales of its COVID-19-related diagnostics. The company said revenue growth could be between 14% to $17% as opposed to the original forecast of 8% to 12%.
LabCorp is strengthening its position in autoimmune testing by acquiriing Myriad Genetics’s autoimmune business unit, which includes the Vectra rheumatoid arthritis (RA) assay, for $150 million. Vectra is a blood-based test that analyzes 12 biomarkers to measure RA disease activity. It combines those measures to generate an easy-to-understand score, which indicates the severity of RA inflammation and how well current treatments are working. It also can predict potential future joint damage. The deal is expected to close in 3Q21.
And in case you missed our last Medtech in a Minute report...
With FDA approval, AtriCure's EPi-Sense becomes the only approved hybrid therapy for the most severe atrial fibrillation (Afib) patients. The device is supported by strong 18-month clinical trial data.In addition to superior clinical results, the procedure significantly improves electrophysiology lab efficiency by reducing endocardial ablation times by over 40 minutes, improving throughput and enabling more patients to be treated, according to the company.
Illumina filed an action to annul the European Commission’s decision to have the Grail acquisition reviewed. About a week earlier, the European Commission Directorate-General called for antitrust regulators to examine Illumina’s $8.1 billion acquisition of the liquid biopsy specialist. This measure would have Illumina, a genomic sequencing specialist, put in a request for approval of the merger. If there are serious concerns, then there could be a full-scale investigation of the deal.
FDA has authorized a breakthrough device for patients 18 and older undergoing stroke rehabilitation to facilitate muscle re-education, and for maintaining or increasing range of motion. The Neurolutions IpsiHand Upper Extremity Rehabilitation System is a brain-computer interface device designed to assist in rehabilitation for stroke patients with upper extremity (hand, wrist, and arm) disability. The IpsiHand System uses non-invasive electroencephalography (EEG) electrodes instead of using an implanted electrode or other invasive feature to record brain activity. The EEG data is then wirelessly conveyed to a tablet for analysis of the intended muscle movement (intended motor function) and a signal is sent to a wireless electronic hand brace, which in turn moves the patient’s hand.