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Medtech in a Minute: Intuitive Dashes Investor Hopes and More
Catch up on the latest medtech news – in one minute or less.
February 4, 2023
2 Min Read
GE HealthCare's first earnings call as a solo company gave investors many reasons to be confident in the company's growth outlook for 2023. The Chicago, IL-based company, which completed its spinout from General Electric in early January, expects to see between 5% and 7% growth this year.
Most of the large-cap medtech companies like GE HealthCare, Stryker, and Abbott are at least cautiously optimistic that supply chain pressures are beginning to ease. However, at least one big medtech company is leaning conservatively and expecting supply chain issues in 2023 to mirror that of 2022.
Expectations for a next-gen multiport robotic system from Intuitive Surgical have been building for multiple quarters. But instead of confirming expectations, Intuitive told investors last week that a next-generation multiport system will not be launched in 2023. The news left analysts scratching their heads and tanked the company's shares.
And in case you missed our last Medtech in a Minute report...
Garmin, once known for its GPS systems, is the latest tech company to enter the ECG space. FDA cleared the Garmin ECG app, which is designed to allow users to record their heart rhythm and check for signs of atrial fibrillation or normal sinus rhythm. The app is available on the Venu 2 Plus smartwatch. When customers take an ECG, the app uses sensors on the Venu 2 Plus to record the electrical signals that control how their heart beats. The app then analyzes the recording.
Johnson & Johnson expects its operational growth in medtech during the first half of 2023 to be lower than the second half of the year. The sluggish first-half guidance is due to ongoing procedure volume recovery, a lingering COVID-19 impact in China, and ramping of new product launches.
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