NEW YORK, February 15, 2018 /PRNewswire/ --
There has been positive growth in the medical devices industry over the course of recent years, which is attributed to technological advancements made in development of devices for unmet medical needs. According to Transparency Market Research the global medical device technology market has showcased significant growth over the past few years and is anticipated is projected to grow at a robust CAGR of 4.6% over the forecast period of 2017 to 2025. At this growth rate the market is projected to reach a value of $563,886.5 million by 2025, from $377,562.4 million in 2016. The report points out important market related factors, such as increase in prevalence of cancer and rare diseases, as well as rise in demand for regenerative and cell-based therapies. ORHUB, Inc. (OTC: ORHB), Tabula Rasa HealthCare, Inc. (NASDAQ: TRHC), Simulations Plus, Inc. (NASDAQ: SLP), Fluidigm Corporation (NASDAQ: FLDM), Allscripts Healthcare Solutions, Inc. (NASDAQ: MDRX)
A pharmaceutical and medical devices industry analyst in Visiongain, Moses Akintomide-Akinwamide, explained: "We expect the increasing move towards personalised therapy to contribute to the expansion of the medical devices market, particularly between 2017 and 2023. Innovations in the field of diagnostics will propel the launch of devices which incorporate biomarkers; leading to swifter patient diagnosis and monitoring… Competition within some of the currently fast growing sectors, such as the cardiology and neurological sectors, will intensify due to the expected launch of innovative products by major companies in mature markets. Moreover, medical device manufacturers will be required to display a high level of cost-effectiveness for their products due to tighter regulatory and reimbursement policies, especially in the emerging economies."
ORHUB, Inc. (OTC: ORHB) on February 6th announced, "that $3.2 million dollars has been successfully raised to further the Company's reach into the marketplace with its revolutionary healthcare IT Vertical Specific Software, which is poised to transform the business of surgery by delivering real-time, casebased surgical data analytics.
This latest funding comes on the heels of the recent warrant program that, at the close of 2017, yielded the Company $3.8 million in working capital. More than $7.0 million raised in past 60 days to drive national sales and scale operations for revolutionary healthcare software.
Offering enhanced capabilities over traditional EHR solutions in the operating room, ORHub's software creates a value-based solution that streamlines surgical care delivery by tracking comprehensive data using proprietary technology. The Company's software has international applications and is particularly ripe for deployment in the United Kingdom, where such solutions are being urgently sought.
ORHub has already secured commitments from three additional major hospitals and has generated interest from countless others. This timely funding will enable the Company's management to meet this demand. ORHub recently announced gross proceeds of $3,860,000 from the exercise of warrants prior to their expiration on December 31, 2017."
"We are very pleased with having the resources and capability to harness and propel our performance and efficiency levels, as anticipated demands heighten. We believe that having the funding in place to facilitate expected orders and maximize efficiency is key to being fully prepared for success," stated Colton Melby, CEO of ORHub.
Tabula Rasa HealthCare, Inc. (NASDAQ: TRHC) is a leader in providing patient-specific, data-driven technology and solutions that enable health care organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. On January 11, 2018, the company announced that its subsidiary, SinfoníaRx, has launched its medication therapy management ("MTM") solutions and services for Medicaid beneficiaries in Florida and Virginia under an agreement with a major behavioral health payer. The innovative MTM program includes weekly medication risk assessments, ongoing medication surveillance, and personalized consultation services by highly trained clinical pharmacy teams. The medication assessments and surveillance incorporate proprietary clinical algorithms to identify patients at risk for medication-related problems.
Simulations Plus, Inc. (NASDAQ: SLP) is a premier developer of drug discovery and development software as well as a leading provider of both preclinical and clinical pharmacometric consulting services for regulatory submissions and quantitative systems pharmacology models for drug-induced liver injury and nonalcoholic fatty liver disease. The company is a global leader focused on improving the ways scientists use knowledge and data to predict the properties and outcomes of pharmaceutical, biotechnology, and chemical agents. On February 1, 2018, the company announced the launch of version 2.0 of PKPlus, a major update to its software for analysis of preclinical and clinical trial data. Mark Pflieger, product manager for PKPlus, said: "From our initial release of PKPlus Version 1.0 in August 2016, we have paid careful attention to the feedback given by our customers and prospects. With their guidance and suggestions, and in close collaboration with our colleagues at Cognigen, we now have PKPlus Version 2.0, which contains many new features and improvements."
Fluidigm Corporation (NASDAQ: FLDM) develops, manufactures, and markets life science analytical and preparatory systems for markets such as mass cytometry, high-throughput genomics, and single-cell genomics. Recently, the company announced financial results for the fourth quarter and full year ended December 31, 2017. Total revenue for the fourth quarter of 2017 was $27.7 million, an increase of 12% from $24.7 million in the third quarter of 2017 and an increase of 11% from $25.1 million in the fourth quarter of 2016. 2017 operational highlights include: The company signed a multiyear agreement with Ascendas Genomics to support development of molecular diagnostics in China. Ascendas Genomics is developing and commercializing systems and assays using microfluidic technologies included in the Fluidigm Biomark HD and Juno systems.
Allscripts Healthcare Solutions, Inc. (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. On January 8, 2018, the company announced a definitive agreement to acquire Practice Fusion, for $100 million in cash, subject to adjustment for working capital and net debt. Practice Fusion is a Silicon Valley pioneer in partnering with top-tier life sciences organizations to drive innovation. In combination with Allscripts existing payer and life sciences business, Allscripts expects to expand its big data insights and analytics, data sharing technologies, and clinical trial solutions to enable life sciences organizations to accelerate bringing life-changing therapies to market. Practice Fusion offers an affordable certified cloud-based EHR for traditionally hard-to-reach small, independent physician practices. This strategic acquisition is expected to further advance Allscripts' strategy to offer the most comprehensive, high performing health information technology and solutions.
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