CORAL SPRINGS, Florida, February 11, 2016 /PRNewswire/ --
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 PositiveID's 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 Company's 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 http://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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