Biotech & Medical Device Companies Make Significant Sales
Growth Progress with Advanced Healthcare Products Fueling New
Distributor Opportunities
Coral Springs, FL (February 11, 2016) -- Industry experts
forecast continued growth for the biotech - healthcare products
industry, especially for medical device market projected to reach
new levels as innovative applications & technologies move
sector forward. Healthcare services and medical device
product companies with recent developments of importance in the
markets are PositiveID Corporation (OTC:
PSID), Electromed, Inc. (NYSE:
ELMD), DexCom, Inc. (NASDAQ:
DXCM), Boston Scientific Corporation (NYSE:
BSX) and ResMed Inc. (NYSE: RMD)
PositiveID Corporation (OTCQB:
PSID), a life sciences company focused on detection and
diagnostics, announced today that its Thermomedics subsidiary,
which markets the Caregiver FDA-cleared non-contact thermometer,
made significant progress on its growth plan in January 2016,
including entering into agreements with five new healthcare
products distributors, increasing sequential monthly sales growth,
and establishing several near-term pipeline opportunities.
Thermomedics Caregiver thermometer is targeting the fastest growing
segment of the global temperature monitoring device market,
estimated at $1 billion by 2020. Caregiver is a clinical grade,
infrared thermometer for measurement of forehead temperature in
adults, children, and infants, without contact. It delivers an
oral-equivalent temperature directly from the forehead in 1-2
seconds. Since there is no skin contact and Caregiver does not
require probe cover supplies, it reduces the risk of
cross-contamination, which is an increasing concern, and saves
healthcare facilities the cost of covers (as much as $0.05 to $0.10
per temperature), storage space, and waste disposal costs.
Read the full PositiveID (PSID)
Press Release at http://www.financialnewsmedia.com/profiles/psid.html
It is estimated that Caregiver can offer savings of $250 or more
per year per device in probe cover supplies alone. Other methods of
clinical thermometry, which include predictive oral/rectal/axillary
electronic, infrared tympanic, temporal artery contact scanner,
etc., may require expensive protective probe covers, intensive
technique concentration, which make them prone to mistaken
placement or dwell time, and many have the potential to need
replacement metal probes, cords, or other parts. January 2016
was the first full month of Thermomedics operations under
PositiveIDs management control, stated William J. Caragol, Chairman
and CEO of PositiveID. We already see that by better capitalizing
the business, entering into new distribution agreements, managing
inventory, and planning for the future, we can generate immediate
results in this business operationally and financially.
In other Healthcare Services & Products news and
developments: Electromed, Inc. (NYSE:
ELMD) this week announced financial results for the three- and
six-month periods ended December 31, 2015. Net revenues for
the second quarter of fiscal 2016 were $6.26 million, a 28.3% or
$1.38 million increase, compared to the second quarter of fiscal
2015. Growth in total net revenues was attributable to strong
results in the home care market in which revenue increased by
21.5%, or $0.97 million, compared to the same period of fiscal
2015. Home care sales, which accounted for nearly 88% of revenues,
increased due to a higher number of approvals, a higher conversion
rate of referrals to approvals, and a higher average selling price
from third party payers, such as insurance companies, Medicare and
Medicaid, for the Companys SmartVest products.
DexCom, Inc. (NASDAQ:
DXCM), developing and marketing continuous glucose monitoring
systems for ambulatory use by patients and by healthcare providers
in the hospital, this week announced that management will present
an update on DexCom at the following upcoming investor conference:
Steven Pacelli, Executive Vice President, Strategy and Corporate
Development, will present an update on the company at the Leerink
Partners 5th Annual Global Healthcare Conference in New York City,
New York on Thursday, February 11, 2016 at 3:05pm (EST). The
presentation, which will occur live at the Waldorf Astoria Hotel,
will be concurrently webcast. The link to the webcast will be
available on the DexCom website at www.dexcom.com by navigating to Our Company, then
Investor Relations, and finally Events and Webcasts and will be
archived there for future reference.
Boston Scientific Corporation (NYSE:
BSX) announced the Centers for Medicare and Medicaid Services
(CMS) will cover percutaneous left atrial appendage closure (LAAC)
therapy under specific criteria, as outlined in the agency's final
National Coverage Determination (NCD). This decision, effective
immediately, provides consistent and uniform access to the WATCHMAN
LAAC Device as a non-pharmacological treatment option for stroke
risk reduction for appropriate Medicare beneficiaries. "We are very
pleased CMS has established national coverage for this
life-changing therapy for Medicare beneficiaries who have a reason
to seek an alternative to long-term anticoagulation," said Mike
Mahoney, president and chief executive officer, Boston Scientific.
"The final decision reflects more than a decade of robust clinical
evidence and will facilitate additional data collection via a
prospective national registry."
ResMed (NYSE: RMD), the world's leading innovator in
sleep-disordered breathing and respiratory care, today announced it
completed the acquisition of Inova Labs Inc., a privately-held
medical device company that develops and commercializes innovative
oxygen therapy products. "We are excited to complete this
acquisition, which expands our offerings and solutions to address a
global COPD epidemic impacting tens of millions of people," said
Mick Farrell, CEO of ResMed. "This acquisition is an important step
to reach our goal of improving 20 million lives by 2020.
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