Archives for March 2007
Coming Soon: Ad-Supported EMRs
Practice Fusion has given physicians a powerful incentive to upgrade their antiquated paper-based, patient-record systems. The San Francisco start-up will digitize the records for free. The only catch, according to the San Francisco Chronicle, is that doctors reviewing a patient’s chart will also see relevant health-related ads. The ads, generated by Google’s AdSense following a […]
Approval Triggers Cash Infusion
The FDA approval of Antares’ Elestrin resulted in a $1.75 million milestone payment from Bradley Pharmaceuticals. The payment was received pursuant to a marketing agreement Bradley signed with Biosante Pharmaceuticals (a licensee of Antares). Elestrin, used to treat hot flashes in menopausal women, is a low dose transdermal estradiol therapy delivered using a proprietary gel delivery system. $2.6 […]
Cambridge Heart Gets Boost from St. Jude
Cambridge Heart inked a three-year agreement with St. Jude Medical last week, turning over to the behemoth sales and marketing responsibilities for its HearTwave II Microvolt T-Wave Alternans System and sensors to North American cardiologists and electrophysiologists. In exchange for the marketing rights, St. Jude Medical will pay Cambridge Heart $12.5 million in convertible stock. […]
CardioNet Equity Bridge Financing Breaks Record
San Diego-based CardioNet, which makes wireless mobile cardiac outpatient monitoring solutions, announced today that it closed $110 million in private financing. The company’s chairman and CEO, James Sweeney, says the $110 million is one of the largest private placements of equity bridge financing in the med tech sector since January 2000. CitiGroup Global Markets served as the […]
Entrada Eases Transition to Mexico
Beginning in May, NxStage, a manufacturer of portable kidney dialysis machines, will move certain aspects of its System One production to Fresnillo, Mexico, in an attempt to control costs. Overseeing the move will be Entrada Group, a Texas-based firm that provides manufacturing facilities and contract services for companies looking to set up shop in Mexico. Entrada does not […]
Beckman Coulter Pays Top Dollar for Biosite
Beckman Coulter, a biomedical testing company, announced yesterday that it would acquire San Diego-based Biosite for $1.55 billion. The purchase will increase Beckman Coulter’s presence in the diagnostic-test market, but industry watchers are saying the Fullerton, CA buyer may have overpaid. According to the Associated Press, “Piper Jaffray analyst William Quirk downgraded Beckman Coulter stock after […]
Medicine Goes Hollywood
A new company has sprung up to help docs make money off their great ideas for new devices. Based in Hollywood, A4M, which stands for Agents for Medics, connects physicians who invent devices with companies that can help bring them to market. According to a company release, “Doctors have little time to deal with the long […]
North American Scientific Poaches Sanarus Chief
Chatsworth, CA-based North American Scientific announced yesterday the appointment of John Rush as president and CEO. The med tech company, which makes radioisotope products for the treatment of cancer, lured Rush from Sanarus Medical of Pleasanton, CA. Rush, 48, had been with Sanarus since 2002. Prior to that, he was president and CEO of Micro Therapeutics (now owned by ev3). He has […]
FDA Cracks Down on Conflicts of Interest
FDA announced yesterday that it would impose stricter rules upon members of its advisory committees. These committees make recommendations on whether a device or drug should be approved. It’s not required to, but FDA typically accepts the recommendations of its committees. Many of the docs who get recruited for the committees have ties to the device […]
Volcano Erupts
With so much talk about dwindling drug-coated stent sales, some smaller med tech firms are primed to take advantage. CNNMoney.com reports this week on two, Volcano and Acusphere, both of which have technologies to help detect blood clots in arteries. That capability may prove quite handy for the many cardiologists who have grown leery of drug-coated […]
