Pharma giants Pfizer and GlaxoSmithKline to create joint consumer healthcare business

Healthcare Finance | December 19, 2018

Pharma giants Pfizer and GlaxoSmithKline are creating a joint venture consumer healthcare business. The Boards of Directors of both companies have unanimously approved the transaction under which Pfizer's consumer healthcare business will essentially roll into GlaxoSmithKline's existing consumer healthcare business. It will operate globally under the GSK Consumer Healthcare name. Pfizer will own less than 50 percent of the joint venture and GSK Consumer Healthcare expects to deconsolidate Pfizer Consumer Healthcare from its financial statements following the closing of the transaction. The terms of the transaction stipulate that Pfizer will get a 32 percent equity stake in the joint venture, and will be entitled to a proportional share of the joint venture's earnings and dividends. The company will also have the right to appoint three out of the nine members of the joint venture's board.

Spotlight

About 1 in 3 adults in the US have prehypertension, which means you are on the cusp of having high blood pressure. Even further, African Americans develop high blood pressure more frequently than whites or Hispanics, with African American women developing the condition most often. This isn’t something to be brushed aside - high blood pressure increases the risk of heart disease and stroke. Thankfully, there are ways to reduce your risk.


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HEALTH TECHNOLOGY

Ivenix to be Acquired by Fresenius Kabi

Ivenix | April 01, 2022

Ivenix, Inc. announced that it has entered into a definitive agreement to be acquired by Fresenius Kabi, a global health care leader specializing in lifesaving medicines and technologies for infusion, transfusion and clinical nutrition. Ivenix’s advanced infusion system combined with Fresenius Kabi’s intravenous fluids and infusion therapy offerings will bring a comprehensive portfolio of infusion products to U.S. hospitals. The purchase price will be a combination of US$240 million upfront payment and milestone payments linked to achievements of commercial and operating targets. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close by mid-2022. The transaction is designed to Create a comprehensive portfolio that joins the industry’s most advanced infusion pump technology with the newest source of intravenous fluids, infusion supplies and accessories. Accelerate operational and commercial growth and scale providing a platform for rapid expansion. Build on a shared culture of exceptional customer service. Establish Fresenius Kabi as a leader in the approximately $5 billion infusion segment. This pivotal transaction will accelerate innovation, expand our combined infusion therapy portfolio and enhance our infusion capabilities, resulting in improved medication safety and operational efficiency. “We’re very pleased to partner with Fresenius Kabi, a leading global health care company. Together, we intend to transform the standard of care for North American health care providers and patients by providing the highest level of safe and effective integrated infusion care,” Jorgen B. Hansen, Ivenix’s Chief Executive Officer The Ivenix Infusion System includes a large-volume infusion pump with administration sets, infusion management tools, and analytics to inform care and advance efficiency. Ivenix centered the system around the patient and clinician and designed it to reduce infusion-related errors and drive down the total cost of ownership. After receiving U.S. Food and Drug Administration (FDA) clearance, Ivenix successfully launched the infusion system in 2021. “Combining Ivenix’s expertise in pump technology and software with our infrastructure, portfolio, and presence in hospital settings represents an ideal opportunity. We intend to scale the launch of Ivenix’s next-generation infusion system while driving growth opportunities in the United States. With today’s announcement, Fresenius Kabi expects to create a leading, comprehensive infusion therapy offering,” said Michael Sen, President and CEO, Fresenius Kabi. About Ivenix Ivenix, Inc. is a medical technology company with a vision to eliminate infusion-related patient harm. The company was founded to develop innovative solutions that transform infusion delivery. Ivenix designed an infusion system from the ground up to streamline medication delivery and bring infusion technology into the digital age. The Ivenix Infusion System includes a large-volume infusion pump supported by a robust infusion management system designed to set new standards in simplicity, intelligence, and reliability. For more information, visit ivenix.com. The Ivenix Infusion System is cleared by the FDA.

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AI

Faisal Belhoul joins forces with iGan Partners to launch US$250 million iGan Arabia fund to drive MedTech innovation in MENA

iGan Partners | February 08, 2022

iGan Partners,Canada'sleading healthcare technology investors, has joined forces with Faisal Belhoul, aDubai-based investments professional and entrepreneur, to launch aUS$250MiGan Arabia regional fundto drive MedTech innovation across theMiddle EastandNorth Africaregion. iGan Arabia will focus on investing in AI/Cloud-enhanced medical devices and digital health technologies that improve patient outcomes and reduce healthcare cost. The fund targetsUS$250Mthrough limited partnerships with an additionalUS$250Min co-investments. The first four investments have been identified to drive breakthrough MedTech in the region. These areExact Imaging, the world's first micro-ultrasound for unmatched resolution of prostate cancer;Okadoc, the region's most advanced digital patient management solution;eSight Corporation, wearable electronic vision devices for legally blind people challenged by eye diseases; andMolecuLight, the world's first handheld imaging device enabling clinicians to visualize bacteria in real-time for advanced wound care. All these already have regulatory approval and are scaling world-wide. H.E.Jean-Philippe Linteau, Consul General ofCanadainDubaiand the Northern Emirates, commented: "I am pleased to see Canadian and UAE health innovation leaders partner together to create iGan Arabia. The UAE has proven to be an early adopter of innovation. This new partnership will help our healthcare technology companies grow and succeed globally." "We see the GCC as a transformative healthcare region. We have identified and uncovered several innovative opportunities across Digital Health, Connected Medical Devices, Healthcare IT and Artificial Intelligence. These are sectors that iGan brings a lot of expertise and we understand what it takes for companies to scale and succeed. Through this first of its kind Fund, we will invest locally and will showcase the GCC's healthcare innovations to the world." Sam Ifergan, Founder & CEO, iGan Partners Faisal Belhoul, Co-Chairman, iGan Arabia,added: "Through iGan Arabia we aim to invest in start-ups and other healthcare companies, especially in the GCC, and help them evolve as the best-in-class. We will support not only their operations in the region but also help scale up their operations to key markets inNorth America,Europe, and LATAM. iGan Arabia will help establish GCC as a world-class MedTech hub that will create thousands of new jobs and add value to the economy."

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FUTURE OF HEALTHCARE

Virtua Health and Medtronic Share Plans to Reimagine Traditional Health Care Models

Virtua Health | December 16, 2021

Virtua Health and Medtronic plc announce a five-year partnership focused on improving delivery of quality care for residents of South Jersey, particularly those who reside in underserved communities or face systemic barriers to care. Medtronic LABS, an independent impact-focused organization funded by Medtronic plc, will simultaneously launch a separate pilot collaboration with the Cherry Hill Free Clinic and Virtua to address care and food access for people with chronic conditions – the first U.S.-based initiative for Medtronic LABS. "I truly believe technology is the path forward to improving human welfare," said Geoff Martha, Chairman and CEO of Medtronic. "This new partnership and collaboration demonstrate the opportunity to use technology to tackle health challenges in a localized, grassroots way. By taking a data-informed approach, we can help improve access and outcomes for patients with chronic conditions in southern New Jersey." "This partnership presents a significant opportunity to accelerate health equity and better outcomes for individuals and families in our community. Together, we will apply the latest research and innovation to the fundamentals of community-based care, allowing us to identify and empower those who need support to achieve the best-possible quality of life." Dennis W. Pullin, FACHE, president and CEO of Virtua Health The scope of the partnership includes the following projects and will expand over time. Heart Health: Medtronic plc and Virtua Health will develop a program to optimize care for hospital patients diagnosed with heart failure, with a focus on slowing the progression of the disease and enhancing the experience of both patient and provider. By employing Medtronic's data-driven, decision-support tools, Virtua clinicians will provide ongoing resources post-hospitalization, minimizing the likelihood of readmission and creating sustainable, enriching solutions for the individual. Outpatient Care Continuity: The partnership will also optimize patient care in high-value outpatient settings, including ambulatory surgery centers. Additionally, Medtronic plc and Virtua will expand Virtua's hospital at home program, which is due to launch officially in early 2022 and aims to reduce the resource-strain on the health system while allowing eligible patients to heal from the comfort of home. Medtronic LABS' collaboration intends to address population health in the following ways: Community Health and the Cherry Hill Free Clinic: Community health workers and clinicians at the Cherry Hill Free Clinic will utilize Medtronic LABS' digital health platform, extending their reach through mobile tools and point-of-care diagnostics. Those identified as having (or being at risk for) chronic illnesses, such as Type 2 diabetes or hypertension, will then connect to the Cherry Hill Free Clinic for follow-up care. Over time, the platform will become more sophisticated and specific as the data accumulates and reveals localized trends and challenges. Food Access: Medtronic LABS will also support Virtua's Eat Well food access programs, specifically the Food Farmacies located inside Virtua Mount Holly Hospital and the Virtua Health & Wellness Center – Camden. Medtronic LABS and Virtua will identify those at risk for food insecurity – due to financial circumstances or limited health literacy – and connect them to free food, nutrition education, and social-work services. "I am honored that Medtronic LABS and Virtua recognize the essential services we provide at the Cherry Hill Free Clinic, and that they are combining their resources and expertise toward enhancing continuity of care for existing and prospective patients," said Jubril Oyeyemi, MD, founder and chief medical officer of the Cherry Hill Free Clinic. "The CDC estimates that 20 percent of Camden County residents do not have health insurance. By creating pathways to care, we build healthier communities." "Medtronic LABS has trained more than 2,000 health workers and provided screenings to more than a million people worldwide. To date, we have focused our efforts on communities in Kenya, Ghana, India, and the Philippines, which is why we are thrilled to partner with Virtua Health on our first U.S.-based endeavor," said Ruchika Singhal, vice president of Medtronic LABS. "In time, this collaboration will create scalable, replicable improvements to the care-delivery model while advancing health and wellness on an individual level." About the Partners Medtronic: Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Dublin, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 90,000+ passionate people across 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. Medtronic LABS is an independent, non-profit structure with multiple entities including an operating foundation, a social business, an in-country non-profit, and for-profit subsidiaries. Medtronic LABS is setting out to design the health system of the future: one that is equitable, tech-enabled, and patient-centered. To date, Medtronic LABS has screened more than 1M patients and improved clinical outcomes for over 35K patients in Kenya, Ghana, India, and the Philippines. Virtua Health is an integrated health care system and the trusted partner for personalized health care and wellness for communities in southern New Jersey. With more than 280 locations and 14,000 colleagues, Virtua provides high-quality care with more than two million annual encounters across the full range of community and tertiary health services – from preventive care to urgent care through specialty services in cancer, women's health, neuroscience, and orthopedics to complex minimally invasive cardiac surgery and organ transplantation. Performing more than 175,000 surgeries at its hospitals and network of ambulatory centers, Virtua is one of the largest providers of surgery in the state. As a not-for-profit leader, Virtua continues to improve social determinants in health and has distributed more than 160,000 pounds of fresh produce in underserved areas to address food insecurity. Virtua is advancing important partnerships into the future to help you be well, get well, and stay well. Cherry Hill Free Clinic (CHFC) is an independent 501(c)(3) with the mission of providing free primary care to the uninsured and under-insured. CHFC is supported by Virtua Health, which provides lab, radiology and, in some cases, specialty care to CHFC patients.

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HEALTH TECHNOLOGY

Frost & Sullivan Awards proteanTecs Best Electronics Health Monitoring Technology

proteanTecs | December 23, 2021

proteanTecs, a leading developer of deep data analytics solutions for electronics health and performance monitoring, announced today it has won the 2021 Frost & Sullivan Best Practices Award for Global Electronics Health Monitoring Technology Innovation Leadership.Electronics have become an existential enabler for key industries, from Datacenter to Automotive, where 24/7 continuity with zero in-mission failures is pivotal. Therefore, it is necessary to guarantee these systems' reliability, bringing a key question to the fore: How can service providers, such as data center hyperscalers and car OEMs, track the health of electronic fleets working under extreme conditions while ensuring business resilience until the devices complete their lifetime? The award reviews the evolving landscape of electronics and presents the clear and critical need for deep data analytics across multiple industries and mission critical devices. The award declares, "Electronics health monitoring is essential to ensure these systems' functional continuity and reliability. proteanTecs offers a unique value proposition in the form of on-chip agents capable of extracting parametric data in various lifecycle stages. The Universal Chip Telemetry (UCT) enabled Proteus deep data analytics platform provides actionable insights and alerts to users along the value chain based on common, correlated, and predictive data. This allows users to take immediate action to ensure uptime and improve power, performance, and reliability." "By weaving data science together with on-chip visibility, proteanTecs' solutions deliver an unprecedented clarity at each step of the system's lifecycle", observed Sushrutha Sadashiva, Industry Analyst. "Frost & Sullivan presents Best Practices Awards to companies that inspire growth in their industries. These leaders identify emerging trends before they become the market standard and create solutions that drive differentiation and sustainable growth. They are the game changers," said Jeff Frigstad, Global Sr. Vice President, Best Practices, Frost & Sullivan. Frost & Sullivan applies a rigorous process to evaluate multiple nominees for each award category, with a detailed evaluation of best practice criteria across several dimensions. "Frost & Sullivan is at the center of the ecosystem for best practice cultivation, with cutting-edge insights that are singularly focused on reshaping the world through managed growth. It is a great honor to be recognized by them as the technology innovation leader in the Global Electronics Health Monitoring industry." Shai Cohen, proteanTecs co-founder and CEO About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, collaborates with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 60 years, Frost & Sullivan has been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. About proteanTecs proteanTecs is a leading provider of deep data monitoring solutions for advanced electronics in the Datacenter, Automotive, Communications and Mobile markets. Based on Universal Chip Telemetry™ (UCT), the company provides system health and performance monitoring, from production to the field. By applying machine learning to novel data created by on-chip UCT agents, the company's analytics platform delivers predictive insights and visibility, leading to new levels of quality, reliability and scale. Founded in 2017, the company is headquartered in Israel with offices in New Jersey, California, India and Taiwan.

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Spotlight

About 1 in 3 adults in the US have prehypertension, which means you are on the cusp of having high blood pressure. Even further, African Americans develop high blood pressure more frequently than whites or Hispanics, with African American women developing the condition most often. This isn’t something to be brushed aside - high blood pressure increases the risk of heart disease and stroke. Thankfully, there are ways to reduce your risk.

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