Michael Barbella, Managing Editor06.03.23
Substance and sanctions dominated MPO website traffic this past post-holiday week.
AVS and Medtronic attracted cybervisitors with their respective financial tidings, while GE HealthCare and Sanara MedTech gained readers' attention via product clearances.
AVS garnered the most pageviews by sharing news of an additional $8.8 million in new financing, bringing its Series B funding round to $28.8 million total. The money will continue to support clinical trials for the company’s device for pulsatile intravascular lithotripsy (PIVL) in peripheral cases, while advancing preclinical work for an expanded indication in coronary cases.
Medtronic, meanwhile, turned to M&A—a time-tested traffic driver—to entice a virtual audience. The company began a set of agreements to acquire EOFlow Co., manufacturer of the EOPatch, a tubeless, wearable, and fully disposable insulin delivery device. Together with Medtronic’s Meal Detection Technology algorithm and next-generation continuous glucose monitor (CGM), EOFlow is expected to help Medtronic address the needs of more patients with diabetes. EOPatch features a proprietary microfluidic technology designed to deliver insulin with high accuracy and reliability while minimizing the risk of insulin occlusion. It’s authorized for marketing in Europe, South Korea, Indonesia, and the United Arab Emirates with a compatible smartphone application that allows users to monitor and control the patch directly from their phone.
On the product approval front, GE HealthCare shaped site traffic with the FDA 510(k) clearance of its Precision DL deep learning-based image processing software. Precision DL offers image quality benefits usually associated with hardware-based time-of-flight (ToF) reconstruction, including, according to GE HealthCare, improved contrast-to-noise ratio, contrast recovery, and quantitative accuracy. The AI-based technology is available on the company’s PET/CT, Omni Legend, which enables faster scan times and small lesion detectability.
Sanara MedTech Inc. followed suit with the FDA 510(k) clearance of its BIASURGE Advanced Surgical Solution. BIASURGE is a patented composition to mechanically cleanse and remove debris, including microorganisms, from wounds. Based on the firm's BIAKŌS technology, the BIASURGE ingredients work synergistically to disrupt biofilm extracellular polymeric substances and eliminate planktonic and biofilm microbes. Sanara MedTech bigwigs claim BIASURGE’s biocompatibility, efficacy, and ability to be left in a wound without a secondary rinse are a unique combination and will be a market differentiator.
And, not surprisingly, MPO loyalists couldn't pass up reading about Vasso Godiali's legal troubles. The Michigan vascular surgeon received an 80-month prison term for orchestrating a multimillion-dollar scheme to defraud healthcare programs by submitting claims for vascular stent placements and thrombectomies he did not perform. Godiali must pay $19.5 million in restitution to Medicare, Medicaid, and Blue Cross/Blue Shield of Michigan (BCBSM), and he also agreed to pay the United States government up to $43,419,000 to resolve related civil allegations that his fraudulent billings to federal healthcare programs violated the False Claims Act (FCA).
AVS and Medtronic attracted cybervisitors with their respective financial tidings, while GE HealthCare and Sanara MedTech gained readers' attention via product clearances.
AVS garnered the most pageviews by sharing news of an additional $8.8 million in new financing, bringing its Series B funding round to $28.8 million total. The money will continue to support clinical trials for the company’s device for pulsatile intravascular lithotripsy (PIVL) in peripheral cases, while advancing preclinical work for an expanded indication in coronary cases.
Medtronic, meanwhile, turned to M&A—a time-tested traffic driver—to entice a virtual audience. The company began a set of agreements to acquire EOFlow Co., manufacturer of the EOPatch, a tubeless, wearable, and fully disposable insulin delivery device. Together with Medtronic’s Meal Detection Technology algorithm and next-generation continuous glucose monitor (CGM), EOFlow is expected to help Medtronic address the needs of more patients with diabetes. EOPatch features a proprietary microfluidic technology designed to deliver insulin with high accuracy and reliability while minimizing the risk of insulin occlusion. It’s authorized for marketing in Europe, South Korea, Indonesia, and the United Arab Emirates with a compatible smartphone application that allows users to monitor and control the patch directly from their phone.
On the product approval front, GE HealthCare shaped site traffic with the FDA 510(k) clearance of its Precision DL deep learning-based image processing software. Precision DL offers image quality benefits usually associated with hardware-based time-of-flight (ToF) reconstruction, including, according to GE HealthCare, improved contrast-to-noise ratio, contrast recovery, and quantitative accuracy. The AI-based technology is available on the company’s PET/CT, Omni Legend, which enables faster scan times and small lesion detectability.
Sanara MedTech Inc. followed suit with the FDA 510(k) clearance of its BIASURGE Advanced Surgical Solution. BIASURGE is a patented composition to mechanically cleanse and remove debris, including microorganisms, from wounds. Based on the firm's BIAKŌS technology, the BIASURGE ingredients work synergistically to disrupt biofilm extracellular polymeric substances and eliminate planktonic and biofilm microbes. Sanara MedTech bigwigs claim BIASURGE’s biocompatibility, efficacy, and ability to be left in a wound without a secondary rinse are a unique combination and will be a market differentiator.
And, not surprisingly, MPO loyalists couldn't pass up reading about Vasso Godiali's legal troubles. The Michigan vascular surgeon received an 80-month prison term for orchestrating a multimillion-dollar scheme to defraud healthcare programs by submitting claims for vascular stent placements and thrombectomies he did not perform. Godiali must pay $19.5 million in restitution to Medicare, Medicaid, and Blue Cross/Blue Shield of Michigan (BCBSM), and he also agreed to pay the United States government up to $43,419,000 to resolve related civil allegations that his fraudulent billings to federal healthcare programs violated the False Claims Act (FCA).
