DTW Podcast: KCK’s Long says deals getting done during COVID era

Karen Long, managing director at KCK Group

In this week’s DeviceTalks Weekly Podcast, Karen Long, managing director at KCK Group, says startups looking for funding have an opportunity to catch the eye and ear of investors.

KCK, an active medtech investor, has been involved in two sizable investments this summer including Aerin Medical and NeuroPace. Both were portfolio companies, but Long says KCK is in the market for new deals.

“We’re looking at companies and where we have the ability to take these ZOOM calls and take pitches that would have normally required a lot of travel and a lot of time to plan,” Long said in this week’s episode.”  We can do it in a half hour, 45 minutes and at least we have the introduction and can see if it makes sense to continue.”

Medtech executives looking for more insight on the fundraising market can register for today’s DeviceTalks Tuesday discussion where …

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DTW Podcast: KCK’s Long says deals getting done during COVID era

Karen Long, managing director at KCK Group

In this week’s DeviceTalks Weekly Podcast, Karen Long, managing director at KCK Group, says startups looking for funding have an opportunity to catch the eye and ear of investors.

KCK, an active medtech investor, has been involved in two sizable investments this summer including Aerin Medical and NeuroPace. Both were portfolio companies, but Long says KCK is in the market for new deals.

“We’re looking at companies and where we have the ability to take these ZOOM calls and take pitches that would have normally required a lot of travel and a lot of time to plan,” Long said in this week’s episode.”  We can do it in a half hour, 45 minutes and at least we have the introduction and can see if it makes sense to continue.”

Medtech executives looking for more insight on the fundraising market can register for today’s DeviceTalks Tuesday discussion where …

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MedTech 100 roundup: Stocks top pre-pandemic high

After weeks of flirting with the heights hit before COVID-19 ravaged the markets, medtech stocks finally topped the pre-pandemic high last week.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — spiked up to 93.11 points on Sep. 2, nearly a full point ahead of the pre-pandemic high of 92.32, which the market reached on Feb. 19.

Medtech stocks had hit a previous mid-pandemic high of 91 points last week, hanging around there before the sudden rise to 93.11, which was followed by a quick dip to 90.64 points 24 hours later.

The index dipped from that peak, though, sitting at 89.29 points at the end of last week (Sep. 4). Overall, medtech stocks saw a -1.6% decrease from the 90.78-point total at the same time a week prior (Aug. 28).

The most recent high mark represents a 0.9% rise from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -3.3% decrease from that pre-pande…

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The top 5 MassDevice stories of the week — September 4, 2020

Medtronic (NYSE:MDT) and a major development involving medtech reimbursement dominated medical device industry news over the past week.

As the week closes out, there’s also a trending story on MassDevice that includes good news: Abbott (NYSE:ABT) is reportedly hiring 2,000 new employees in Illinois to increase manufacturing for its rapid COVID-19 test.

Want to hear more about the week’s top news? Executive editor Chris Newmarker and Tom Salemi will discuss the week’s “Newmarker’s Newsmakers” during our DeviceTalks Weekly podcast. Without further ado, here’s this week’s MassDevice Top Five:

5. FDA approves Medtronic MiniMed 770G insulin pump for young children

The FDA has approved the Medtronic MiniMed 770G  hybrid closed loop-diabetes management system for Type 1 diabetes patients aged 2 to 6 years. The MiniMed 770G is the first-of-its-kind system that can automatically adjust insulin delivery based on continuous glucose mon…

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Medtronic touts cryoablation therapy study results

Medtronic (NYSE:MDT) touted results demonstrating the superiority of two of its cryoablation therapy technologies.

Fridley, Minn.-based Medtronic said in a news release that trials showed the superiority of the Arctic Front advance cardiac cryoballoon and the Freezor max cardiac cryoablation catheter for the first-line treatment (before drug therapy) of recurrent symptomatic paroxysmal atrial fibrillation (PAF) when compared to antiarrhythmic drug (AAD) treatment.

The company presented the primary results from the randomized STOP-AF first trial at the 2020 European Society of Cardiology (ESC) Congress and noted that 12-month outcomes from the Cryo-First trial showed significant improvements in atrial fibrillation-related quality of life with the use of Medtronic’s cryoablation system compared to anti-arrhythmic drug therapy in patients who hadn’t previously received anti-arrhythmic drugs to treat their symptomatic PAF.

STOP-AF enrolled 225 pa…

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Medtronic to save up to $475M a year from restructuring

Medtronic (NYSE:MDT) officials in the coming months will start a major restructuring of the world’s largest medical device company — with expected annual savings of $450 million to 475 million by 2023.

The goal, according to a report Medtronic filed with the SEC yesterday, is to take the company’s current groups and reorganize them into “highly focused, accountable, and empowered operating units (OUs).” Medtronic (operated out of Fridley, Minn.) will create the OUs out of existing businesses and organize them around specific therapy areas.

Operating unit leaders will have full responsibility for profits and losses. They’ll control their own product development and clinical resources, and direct their own sales organizations in the company’s larger geographies.

The overall goal, according to the SEC filing, is accelerating innovation: “This new operating model will simplify Medtronic’s organizational structure and accel…

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FDA approves Medtronic MiniMed 770G insulin pump for young children

(Image courtesy of Medtronic)

The FDA has approved the Medtronic (NYSE:MDT) MiniMed 770G  hybrid closed loop-diabetes management system for Type 1 diabetes patients aged 2 to 6 years.

The MiniMed 770G is the first-of-its-kind system that can automatically adjust insulin delivery based on continuous glucose monitor values for for such young children, according to the agency. The FDA approved an earlier MiniMed model, the 670G system, for people aged 7 to 13 with Type I diabetes in 2018.

MiniMed 770G System is a Bluetooth-enabled version of the 670G, with other modifications. It works by measuring glucose levels in the body every 5 minutes and automatically adjusting insulin delivery by either administering or withholding insulin. The system includes: a sensor that attaches to the body to measure glucose levels under the skin; an insulin pump strapped to the body; and an infusion patch connected to the …

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MedTech 100 roundup: Industry reaches new heights again

The past month has seen a resurgence from medtech companies in the markets and last week saw the best performance yet.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 90.78 points at the end of last week (Aug. 28). Overall, medtech stocks saw a 1.3% increase from the 89.6-point total at the same time a week prior (Aug. 21).

While 90.78 points is already the highest total on which the index has ended a week during the COVID-19 pandemic, just the day before, the index hit 91 points even, marking the highest point total since the pandemic took its toll.

The most recent high mark represents just a -1.4% dip from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -1.7% decrease from that pre-pandemic high.

Meanwhile, the S&P 500 Index saw a 3.3% increase from Aug. 14 to Aug. 21, having steadily climbed since reaching record highs on Aug. 18. Meanwhile, the …

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CMS agrees to cover ‘breakthrough’ medical devices

Medicare patients will have coverage for medical devices the FDA designates as breakthrough technology under a proposed rule released this morning.

Once the Medicare Coverage of Innovative Technology (MCIT) final rule goes into effect, national Medicare coverage will begin on the date of a breakthrough device’s FDA market authorization would begin and continue for 4 years.

The proposed rule, scheduled to be published September 1 in the Federal Register, has been under discussion for years and would remedy a nationwide patchwork of Medicare coverage for such devices. Currently, a breakthrough device may be covered in one state or area of a state and not another, depending upon a local coverage determination made by a Medicare administrative contractor.

The MCIT pathway would be voluntary and device manufacturers would notify the Centers for Medicare and Medicaid Services if they want to use this coverage option.

“This coverage pathway d…

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GSK-backed venture fund APVC sees opportunities in ultrasound

Juan-Pablo Mas of APVC details the firm’s investment in EXO.

Action Potential Venture Capital, a corporate investment arm of GSK, sees therapeutic opportunities in ultrasound, according to a partner at the group.

In this week’s DeviceTalks Weekly Podcast, Action Venture partner Juan-Pablo Mas explains why APCV led the recent round in Exo, a maker of the first piezoelectric micromachined ultrasonic transducer (PMUT) portable ultrasound imaging technology.

Mas also updates listeners on the venture fund’s interest in exploring other types of technologies. And he introduces LatinxVc, a non-profit group he co-founded to create opportunities for newcomers to venture capital.

Trust Securities Managing Director Kaila Krum says Medtronic (NYSE:MDT) executives are retooling the company to keep pace with smaller, more focused competitors.

Breaking down the company’s Q1 analyst ca…

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DTW Podcast: Truist’s Kaila Krum says Medtronic prepping for growth

In an interview with DeviceTalks Weekly Podcast, Truist Securities managing director Kaila Krum says Medtronic executives are retooling the company to keep pace with smaller, more focused competitors.

Breaking down the company’s Q1 call, Krum says Medtronic is seen as a company that’s too big to grow market share quickly. On the call, new CEO Geoff Martha emphasized gaining market share at one point telling investors the company would “go big or go home.”

Krum says Medtronic will pour resources into several critical areas to drive growth including soft tissue robotics, diabetes, and renal denervation.

“At a time when a lot of companies right now are forced to pull back on spending, Medtronic has been in a position where it can flex its balance sheet,” Krum said. “So they’ve been talking about investing in the pipeline, investing in structural, operational and cultural changes. I think all of that combined should support their growth goals over the …

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Study: Medtronic’s drug-coated balloon reduces dialysis interruptions

Medtronic’s In.Pact arteriovenous drug-coated balloon (Image courtesy of the FDA)

Medtronic (NYSE:MDT) recently announced the results of a study showing that some kidney disease patients who had a drug-coated balloon (DCB) implanted to treat arteriovenous (AV) failure experienced fewer interruptions of dialysis treatment.

Many end-stage renal disease (ESRD) patients require AV fistulae in order to receive continuous dialysis. Blood vessels that feed the access site can narrow over time and patients often undergo multiple maintenance procedures per year to restore access site function. The need for frequent reinterventions can result in repeated hospital visits and significant disruptions to hemodialysis care. By being able to maintain access site patency, patients may experience longer periods of uninterrupted dialysis, according to a news release from Medtronic.

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