Despite heavy competition, GE Healthcare will forge ahead with its ongoing acquisition spree, division chairman and CEO John Dineen has said. Execs are continuing their search for more information technology and life sciences diagnostic deals to help enhance the company's edge.
We all know the life sciences industry produces plenty of hype about new diagnostic advances, cutting-edge treatments and lifesaving surgeries. Many are profoundly amazing and life-changing inventions that have saved countless lives. But the truth is that much of patient diagnosis and care remains guesswork, trial, error and hope. Read more >>
Forget organic growth. In 2013, some of the biggest moves into new or expanded markets in the med tech world came through serious M&A activity.
The top deals announced or closed in 2013 created supergiants in the diagnostics and renal device spaces for the first time. One transaction helped a major device player expand its orthopedic device offerings. Another $1.1 billion purchase helped a pharmaceutical giant become a major maker of a birth control device implant in one fell swoop. Another international med tech player, always on the lookout for new business lines, snatched up a buzz-worthy maker of an endoscopic pill camera in a deal announced at the end of 2013 that just closed in February, gaining new revenue possibilities through a smart acquisition.
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Sequenom scored against Illumina's Verinata Health in a ruling at the U.S. Patent and Trademark Office involving noninvasive prenatal genetic diagnostic tech. Wasting no time, executives plan to use that decision as a weapon in an ongoing legal battle between the two California companies.
Eventus Diagnostics in Miami raised a $2.72 million investment infusion that it will use to advance its Octava breast cancer diagnostic blood tests.
ERBA Diagnostics has something to crow about for 2013. Year-over-year, the Florida in vitro diagnostics outfit swung from a net loss to a small profit, aided, in part, by a surge in new revenue stemming from a 2012 acquisition. The company said it is eyeing more M&A deals in 2014.
Qiagen snatched up a biomarker from an Austrian research group that will aid in the development of a test designed to better diagnose rare blood disorders.
The University of California and a Chinese company will launch a high-end medical lab in Shanghai expected to handle molecular diagnostics and other tests for Chinese patients. They're billing the initiative as the first of its kind between a Chinese company and a U.S. academic medical center.
Philips Healthcare is touting some positive early results from a field study of its new hand-held blood test to spot patients at high risk for heart attacks or other "acute cardiac events."
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Drugmakers received the first slice of FDA social media guidance in January, and now the FDA's mailbag is filling up with letters on First Amendment protections, "jurisdictional creep" and other topics from the likes of Pfizer and PhRMA.
Europe is embarking on the second, decadelong part of its public-private partnership to improve drug development, with Parliament agreeing this week to contribute to the €3 billion ($4.1 billion) program. And the "yes" vote will mean more cash for IT.