Abbott Q4 beat driven by COVID-19 test demand, devices come in flat

The Latest

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  Deep Dive

  Abbott, Edwards focus on mitral valve as market projected to rival TAVR

  Companies have zeroed in on TAVR in recent years, but in 2021 and beyond, experts and industry are looking to the mitral market for the next big structural heart splash.

  Medical Devices

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  Ventilators, imaging drive GE healthcare profits up 27% as procedures even out

  "Regionally, public healthcare markets such as Europe and China have been stronger than private markets, particularly the U.S., India and Latin America," CFO Carolina Dybeck Happe told investors.

  Medical Devices

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  Philips beats Q4 expectations as COVID-19 boosts connected care, slows procedures

  The Dutch conglomerate will continue to be active on the M&A front, CEO Frans van Houten told investors, after striking two deals in the space over the past month worth more than $3.4 billion.

  Medical Devices

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  Intuitive braces for bumpy 2021 as COVID-19 resurgence hits robotics

  The company, which gave details on its fourth quarter, is not giving guidance for the year amid uncertainty. Shares fell nearly 5% Friday morning.

  Medical Devices

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  Q&A

  ACLA seeks lab reimbursement changes as need for COVID-19 testing surges

  Julie Khani, president of the American Clinical Laboratory Association, which includes Quest and LabCorp, says there are coverage gaps and that clarifications are needed for which tests are paid for by insurers.

  Policy & Regulation

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  Boston Scientific bets on cardiac wearables with $925M Preventice buy

  The deal is the latest in the fast-growing space, coming on the heels of Hillrom's $375 million BardyDx buy on Tuesday and Philips' $2.8 billion purchase of BioTelemetry last month.

  Medical Devices

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  4 key trends for payers and providers in 2021

  The COVID-19 crisis may spur speedier adoption of value-based care and partnerships between health systems and payers in the year ahead.

  Medical Devices

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  Healthcare funding shatters records in 2020, helped by COVID-19

  Medical device startups raised roughly $6 billion in the fourth quarter, a high point over the last three years, according to a CB Insights report.

  Medical Devices

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  Biden appoints Janet Woodcock as acting FDA chief, plans COVID-19 testing board

  The longtime agency staffer is reportedly being considered to permanently fill the role. The president also named acting directors for HHS and CMS.

  Policy & Regulation

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  Abbott antigen test misses two-thirds of COVID-19 asymptomatic cases: CDC

  Compared to gold standard PCR tests, the company's point-of-care BinaxNOW diagnostic had a 35.8% sensitivity when used to analyze samples taken from individuals without symptoms, according to the agency.

  Policy & Regulation

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  CMS expands transcatheter mitral coverage, boosting Abbott's MitraClip device

  Wall Street analysts said the national coverage determination could triple the patient base eligible for Abbott's MitraClip device, adding fuel to a growing and under-penetrated market.

  Medical Devices

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  Haemonetics inks $510M Cardiva takeover to expand hospital business

  The blood products medtech contends the deal will strengthen its portfolio in interventional cardiology and electrophysiology markets.

  Medical Devices

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  CMS rejects 1st colorectal cancer blood test, tweaks path for Exact, Guardant and others

  The agency removed one of the criteria needed to secure Medicare coverage but still shunned Epigenomics' diagnostic. Rivals have versions in development.

  Policy & Regulation

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  Key members of the Biden healthcare team

  Many officials in the administration will be focused solely on the U.S. response to the COVID-19 pandemic, which Biden has named as his top priority.

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  FDA breakthrough nods go to Alzheimer's devices, cardiovascular products

  Cognito and Boston Scientific-backed Functional Neuromodulation picked up agency designations, positioning them for speedy reviews as they work to get their Alzheimer offerings to market.

  Medical Devices

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  Hillrom makes cardiac monitoring play with $375M BardyDx buy

  The deal fits Hillrom's existing heart portfolio and efforts to connect devices to the internet, analysts said, but one raised concerns about Medicare reimbursement.

  Medical Devices

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  Thermo Fisher buys Mesa Biotech for $450M to bolster rapid point-of-care testing

  The all-cash acquisition, which includes the potential for an additional $100 million upon completion of milestones, adds Mesa's PCR test platform for SARS-CoV-2, influenza A and B, RSV and strep A to Thermo's portfolio.

  M&A

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  Philips to acquire Capsule Technologies in $635M deal, growing patient data capabilities

  The move follows the medtech giant's $2.8 billion acquisition of cardiac monitoring company BioTelemetry in December, one of 2020's largest deals.

  Medical Devices

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  MedTech Europe calls for EU to retain support for digital health post-pandemic

  The industry wants reimbursement changes and other measures to make digital health permanent.

  Policy & Regulation

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  Forging trust in AI, sustaining the virtual care boom and other CES takeaways

  "You can't just set a piece of software in front of somebody and say 'trust me,'" Christina Silcox, digital health fellow at the Duke-Margolis Center for Health Policy, said at the consumer tech conference.

  Medical Devices

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  Neuromod portfolios advance at Medtronic, Boston Scientific, Abbott

  The flurry of activity is further evidence of the medtech industry’s latest attempts to make progress in a sector criticized as stagnant just one year ago.

  Medical Devices

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  Abbott, Quidel tout big COVID-19 testing year despite vaccine rollout: JPM21

  "I don't see COVID just simply going away, but I do see it looking more like a flu-like seasonal test. And if you think about it globally, it's a pretty significant amount of volume," Abbott CEO Robert Ford said at J.P. Morgan's conference.

  Policy & Regulation

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  Intuitive, J&J, Medtronic and Zimmer talk robotic surgery ambitions: JPM21

  Medtech majors used this week's virtual J.P. Morgan healthcare conference to talk up their plans in the hot, increasingly competitive sector.

  Medical Devices

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  Google calls Fitbit acquisition complete despite ongoing DOJ review

  The search giant closed the deal because the department's 14-month investigation period expired without any objection. However, DOJ could still sue to unwind the buy.

  Medical Devices

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  Remote monitoring, wearable companies look to capitalize on virtual care boom: JPM21

  Diabetes players Dexcom and Insulet both projected business growth and market expansion for this year during presentations.

  Medical Devices

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