PerkinElmer inks $155M Immunodiagnostic buyout, continuing deal spree

The flurry of M&A means PerkinElmer has struck more deals, at a higher aggregate value, in the first six months of 2021 than in the years since it bought Euroimmun for $1.3 billion in 2017.

By Nick Paul Taylor • May 18, 2021

Cue raises $235M to build on point-of-care COVID-19 testing

Updates from Abbott and Quidel suggest the U.S. market for rapid COVID-19 tests has softened in recent months, but the San Diego startup still expanded its investor syndicate to raise its biggest financing round yet.

By Nick Paul Taylor • May 14, 2021

Thermo Fisher, Quest step up K-12 COVID-19 testing as school districts look to safely reopen

Color Health and Thermo Fisher are providing tests to students, teachers and staff as part of a screening pilot in Ohio, while Quest has teamed up with Ginkgo Bioworks to offer pooled testing to schools across the U.S.

By Nick Paul Taylor • May 13, 2021

Diabetes tech companies continue 2020's success with Q1 growth. Investors seem unimpressed.

Dexcom, Insulet and Tandem all grew revenue or sales in Q1, winning over Wall Street analysts but seemingly not investors. Meanwhile, the diabetes tech space grows with FDA's clearance of Bigfoot Biomedical's smart insulin pen.

By Ricky Zipp • May 12, 2021

Robotic surgery outlook boosted by hospital spending pickup in Q1

Intuitive and Stryker said that system buys were stronger than expected in the first quarter. Zimmer also reported momentum for its Rosa system, while Globus had positive early feedback for its robotic spine technology.

By Susan Kelly • May 10, 2021

Quidel says COVID-19 testing 'not forecastable' as it targets alternative, at-home markets

CEO Doug Bryant on Thursday's first-quarter earnings call said the company sees increasing revenue opportunities tied to at-home, back-to-school and back-to-work tests but "it's impossible for us to model at this stage."

By Greg Slabodkin • May 7, 2021

iRhythm again meets with Medicare rate setter after cardiac monitoring pay cut by nearly $200

CEO Michael Coyle said during a Thursday earnings call the company has met with Novitas Solutions to discuss a different pricing methodology. Investors seemed encouraged as shares were up nearly 8% Friday morning.

By Ricky Zipp • May 7, 2021

FDA shares plan for restarting facility inspections, warns backlog will persist into 2022

In a projected base-case scenario, the agency expects to have cleared 26% of its backlog of medical product inspections by October. A total of 2,426 device and radiological health inspections remain for fiscal year 2021.

By Nick Paul Taylor • May 7, 2021

AI expected to supplant telehealth as top investment priority in next few years, survey finds

Philips' Future Health Index surveying almost 3,000 health leaders worldwide also found a surprising focus on delivering environmentally sustainable healthcare by 2024.

By Rebecca Pifer • May 6, 2021

Nevro raises outlook as neuromodulation market recovers from COVID-19 crisis

Improvements during the quarter, which culminated in Nevro's best March ever, emboldened the company to target at least 22% growth in 2021. Still, the company's stock price dropped by about 6% Thursday morning.

By Nick Paul Taylor • May 6, 2021

BD grows Q2 revenue despite COVID-19 test dip, spins off diabetes business

The spin off for the separate publicly traded company is expected to be completed in the first half of calendar year 2022. The move will not impact BD's ability to fulfill orders related to COVID-19 vaccinations, execs said.

By Greg Slabodkin • May 6, 2021

Telehealth use dropped in February for first time since September

The data suggests a potential slowdown in demand for virtual care services that spiked last year in the early months of COVID-19, according to Fair Health's monthly tracker.

By Rebecca Pifer • May 5, 2021

Qiagen braces for COVID-19 testing volatility as sales hold steady in Q1

Coronavirus-related revenues were flat sequentially, helping the company to grow above its outlook. However, the consistency masks changes in where tests are in demand with region-to-region variability expected to continue.

By Nick Paul Taylor • May 4, 2021

Zimmer sees Q1 sales growth after CEO warned of down quarter

Bryan Hanson cautioned in February the quarter would be more challenging than the fourth due to COVID-19 pressures. The turnaround led the company to issue full-year 2021 guidance, but investors weren't impressed.

By Ricky Zipp • May 4, 2021

LabCorp inks $150M takeover of Myriad Genetics autoimmune testing unit

The diagnostics giant discussed its interest in M&A last week, outlining plans to use up to $2 billion in free cash flow to strengthen its businesses through acquisitions.

By Nick Paul Taylor • May 4, 2021

Siemens raises outlook as COVID-19 antigen tests blast past original sales target

The company's bullish prospect for its rapid antigen test business comes as rivals like Abbott Laboratories and Quidel, which are more exposed to the U.S. market, fell short of expectations in the first quarter.

By Nick Paul Taylor • May 3, 2021

Orthopaedic companies project 'return to normalcy' as electives recover in Q1

J&J, Smith & Nephew and Stryker reported seeing a light at the end of the tunnel during the first quarter as nonessential care rebounded, with a backlog of hip procedures pointing the way forward.

By Susan Kelly • May 3, 2021

Hologic, Thermo Fisher cautious on COVID-19 test demand as vaccines roll out

Hologic CEO Stephen MacMillan told investors late Wednesday demand has fallen significantly since January amid vaccinations. Both companies expect recent M&A to be a crucial part of post-pandemic strategies.

By Greg Slabodkin • April 29, 2021

Smith & Nephew returns to growth as US hip sales surge

First quarter orthopaedic results saw divergent performance in the knees and hip franchises. CEO Roland Diggelmann noted hip injuries are typically more acute but acknowledged a gap in its U.S. knee portfolio.

By Nick Paul Taylor • April 29, 2021

Stryker's Wright costs spur Q1 miss, but robotics orders pick up

The medtech also raised its full-year earnings outlook, which CFO Glenn Boehnlein said is based on an assumption that the second quarter "has a return to normalcy by the time we get to the end."

By Susan Kelly • April 28, 2021

Boston Scientific sees Q1 electives rebound, hints at further 2021 M&A

With two acquisitions already in 2021, CFO Daniel Brennan said, "We have the appetite, and we have the balance sheet in place to continue to" spend later this year.

By Ricky Zipp • April 28, 2021

Abbott, Quest look to post-pandemic home testing beyond COVID-19

With development of at-home coronavirus tests, the companies see opportunities for over-the-counter and direct-to-consumer diagnostics for other diseases and conditions, from respiratory ailments to cancer.

By Greg Slabodkin • April 27, 2021

Hospital margins remain narrow in March as COVID-19 financial strain lingers

Pandemic-related costs continue to depress health system finances, though performance recuperated as outpatient activity increased, Kaufman Hall found.

By Rebecca Pifer • April 27, 2021

GE Healthcare grows sales as routine screening, elective procedures return

The results provide further evidence that the resumption of elective procedures has driven up demand for imaging and other healthcare products and services. GE saw volumes return for cardiac, oncology and neurology screening.

By Nick Paul Taylor • April 27, 2021

Philips raises guidance as elective procedures exceed pre-pandemic levels

The Dutch conglomerate's results follow encouraging rebounds in non-emergency care from Edwards, Intuitive Surgical and J&J. Still, Philips posted a loss from continuing operations. 

By Nick Paul Taylor • April 26, 2021