Poly Announces Second Quarter Fiscal Year 2020 Financial Results

Poly | November 05, 2019

Plantronics, Inc. (NYSE: PLT) ("Poly" or the "Company") today announced second quarter fiscal year 2020 results for the period ending September 30, 2019. Highlights of the second quarter include the following: “During the second quarter, we made further progress reducing our debt and managing corporate spend,” said Chuck Boynton, Executive Vice President and Chief Financial Officer. “As we analyze inventory levels across our value chain, in light of the evolving macroeconomic conditions and significant product transitions underway, we believe it is prudent to reduce channel inventory at this time by reducing sales to channel partners. This reduction will primarily impact our fiscal Q3 results and is incorporated into the guidance we are providing today.” At Zoom's annual user conference, Poly announced the Studio X family, two new purpose-built all-in-one video bars designed to dramatically simplify the video conferencing experience. Combined with the Poly Studio and Poly G7500 the Company now has a full portfolio of software-driven video endpoints positioned to capture the rapid growth in the video conferencing market.

Spotlight

The 2015 United States of Aging Survey comprised 1,650 telephone interviews, including nationally representative samples of Americans 60 and older and professionals who work closely with them. Professionals included staff from the Area Agencies on Aging, credit union managers, primary care physicians and pharmacists.


Other News
HEALTH TECHNOLOGY

CONVERT Clinical Trial Data Presented at ERS Demonstrates Early Success of AeriSeal System in Patients with Advanced COPD/Emphysema

Pulmonx Corporation | September 05, 2022

Pulmonx Corporation a global leader in minimally invasive treatments for severe lung disease, announces the presentation of interim results from the CONVERT Study at the 2022 European Respiratory Society International Conference. Data on the first 40 patients in the study demonstrated that treatment with the AeriSeal System successfully converted the collateral ventilation status in 78% of patients who were subsequently treated with Zephyr Valves. The AeriSeal System is used to close collateral air channels in a target lung lobe of a patient with severe COPD/emphysema, making the patient eligible to then undergo Bronchoscopic Lung Volume Reduction (BLVR) with Zephyr Valves. Patients whose lungs have untreated collateral ventilation are currently ineligible for treatment with Zephyr Valves and have limited options once medical management alone does not control symptoms. Once the target lobe is converted from CV+ to CV-, patients can be treated with Zephyr Valves, which has been shown to improve lung function, quality of life, and exercise capacity for patients with severe COPD/emphysema. The CONVERT study uses the AeriSeal System to close collateral air flow. Once the treated lobe tests negative for collateral ventilation Zephyr Valves are implanted to address hyperinflation of that target lobe to ease emphysema symptoms without major surgery. Successfully converted patients who received Zephyr Valves had clinically meaningful Target Lobe Volume Reduction with a mean reduction of greater than one (1) liter. The CONVERT trial is ongoing and full clinical outcomes of BLVR with Zephyr Valves were not reported at this time. However, results recently published from a single-center feasibility study at Macquarie University Hospital in Australia showed that the AeriSeal System successfully closed collateral air channels and allowed for successful clinical outcomes after treatment with Zephyr Valves.2 At 6 months, AeriSeal and Zephyr Valve treated CV+ patients experienced clinically meaningful improvements similar to improvements in CV- patients treated with Zephyr Valves alone.2 Improvements included Lung function (FEV1 increase of 19.7%, Residual Volume decrease of 16.2%) Quality of life (SGRQ score decrease of 15.1 points) Exercise capacity (Six-Minute Walk Distance increase of 77.2 meters) There were no serious adverse reactions experienced by patients in the Australian feasibility study; 20% of patients in the CONVERT Study experienced an inflammatory response following AeriSeal treatment - all were transient, medically managed, and resolved. The available data suggest that patients with collateral ventilation can undergo successful BLVR with Zephyr Valves following closure of the fissure gap with the AeriSeal System. “This is very promising news for patients with advanced COPD. We know that treatment with Zephyr Valves can provide long-term improvements in lung function, breathing, and quality of life, but for patients with collateral ventilation, this minimally invasive treatment has not been available as an option,” explains Dr. Michela Bezzi, Department Head and Director Interventional Pulmonology - ASST Spedali Civili, University Hospital, Brescia, Italy. “Having a technology like the AeriSeal System to convert collateral ventilation positive patients to negative status means we can provide a treatment to patients who currently have very few options.” “This work reflects our continued commitment to developing and testing new medical technologies to help patients with severe lung disease breathe easier and have better quality of life. These early study results are encouraging and move us closer to the goal of helping severe emphysema patients who have collateral ventilation benefit from our proven Zephyr Valve treatment.” Glen French, President and Chief Executive Officer of Pulmonx About the CONVERT Study CONVERT is a prospective, open-label, multi-center, single-arm study being conducted at up to 20 investigational sites. The study plans to enroll 140 subjects with severe emphysema and collateral ventilation in the target lobe. This protocol is designed to evaluate the utility of the AeriSeal System, which uses a synthetic polymer foam to occlude collateral air channels in a target lung lobe and convert the target lung lobe to having little to no collateral ventilation. Patients will then undergo Bronchoscopic Lung Volume Reduction with Zephyr Endobronchial Valves. Zephyr Valves are not effective if collateral ventilation (CV+) is present but once the target lobe is converted from CV+ to CV-, patients can be treated with Zephyr Valves which has been shown to improve lung function, quality of life, and exercise capacity for patients with severe COPD/emphysema. About Zephyr Valves The Zephyr Valve is a minimally invasive treatment option for severe COPD/emphysema. Zephyr Valves are placed via bronchoscopy to block off a diseased portion of the lung to prevent air from getting trapped and reduce hyperinflation, which allows the healthier lung tissue to expand and take in more air. This results in patients being able to breathe easier, be less short of breath, and have an improvement in their quality of life.1 National and global treatment guidelines for COPD include Endobronchial Valves like Zephyr Valves with the Global Initiative for Chronic Obstructive Lung Disease giving valves an ‘Evidence A’ rating. More than 25,000 patients have been treated with the Zephyr Valve worldwide. About Pulmonx Corporation Pulmonx Corporation is a global leader in minimally invasive treatments for severe lung disease. Pulmonx’s Zephyr® Endobronchial Valve, Chartis® Pulmonary Assessment System and StratX® Lung Analysis Platform are designed to assess and treat patients with severe emphysema/COPD who, despite medical management, are still profoundly symptomatic. Pulmonx received FDA premarket approval to commercialize the Zephyr Valve following its designation as a “breakthrough device.” The Zephyr Valve is commercially available in more than 25 countries, with over 100,000 valves used to treat more than 25,000 patients.

Read More

HEALTH TECHNOLOGY

Software Identifies Unreported Mental Health Issues in Teens

Advanced Metrics | August 26, 2022

Advanced Metrics and Samaritan Counseling Center today announced the release of QUALO Behavioral Health, a cloud-based software designed to proactively screen teens for mental and emotional wellbeing. "An easy to implement mental health screening strategy gives schools a targeted opportunity to engage and empower students who need connected to community resources because they are struggling with feelings of depression, anxiety, and suicidal thoughts." Steve Schedler, Samaritan Counseling QUALO Behavioral Health software revolutionizes teen mental health screening by innovatively simplifying the entire screening process. The software guides youth through industry standard screening tools to understand their current emotional wellbeing. Mental health professionals are immediately provided with data supporting an "at-risk" or "not at risk" identification and are guided through an intentional follow-up process. "With the mental health crisis facing teens today, we knew it was critical to develop a software that supports teen's mental well-being and normalizes conversations about mental health. We designed this software so schools can implement it independently or through collaboration with an outside agency. Either way, the platform will support students, inform administrators, and enhance any mental health strategy a school is implementing." Steven Herr PhD, Advanced Metrics Advanced Metrics is a Software as a Service company dedicated to improving the health of individuals and communities through science informed software and human centered data analysis. Advanced Metrics designed QUALO, a comprehensive web-based solution, to empower human service organizations to deliver services that generate quality life outcomes. TeenHope is a student mental and emotional wellbeing education and screening program in Lancaster, PA. TeenHope is supported by Samaritan Counseling Center, which provides professional counseling, consultation and education for individuals, couples, businesses, and clergy.

Read More

HEALTH TECHNOLOGY

Johnson & Johnson Opens State-of-the-Art Science and Technology Campus in San Francisco Bay Area

Johnson & Johnson | September 21, 2022

Johnson & Johnson opened its San Francisco Bay Campus, a state-of-the-art Research & Development facility in the Bay Area, one of the world’s most established global hubs for innovation and entrepreneurship. The nearly 200,000 square-foot facility will house up to 400 employees, more than doubling the R&D presence of Johnson & Johnson in the Bay Area. The campus bridges key scientific and technological capabilities by co-locating Janssen R&D, Johnson & Johnson Innovation and Johnson & Johnson Technology. It will further integrate the Company into the Bay Area innovation ecosystem to strengthen and increase collaborations with innovators to accelerate growth. “Johnson & Johnson’s expanded presence in the Bay Area affirms our commitment to combining science and technology to deliver transformative healthcare solutions. On this campus, our talented teams will use their diverse experience and expertise to tackle society’s greatest health challenges to create a better future for patients.” Joaquin Duato, Chief Executive Officer, Johnson & Johnson The R&D focus at the new site spans Janssen’s therapeutic areas and key functions, including emerging science and technologies for gene and RNA therapies, novel treatments and approaches for retinal and infectious diseases, and advanced data science, including artificial intelligence and machine learning. Co-locating expertise at the site will enable the expansion of the Company’s world-class discovery engine and industry-leading pipeline. “Our new state-of-the-art science facility in the Bay Area will further strengthen our R&D capabilities and transform how we discover, develop and deliver innovative medicines faster and more efficiently. By integrating drug discovery, data science and digital health, we aim to accelerate the growth of our best-in-class portfolio and deliver better health outcomes for people worldwide,” said James Merson, Ph.D., Site Head, San Francisco Bay Campus and Global Therapeutic Area Head, Infectious Diseases, Janssen Research & Development, LLC. The Johnson & Johnson Innovation Center in California has facilitated investments and collaborations to accelerate early-stage healthcare innovation with academic and industry partners in the Bay Area and greater California ecosystem since 2014. The San Francisco Bay Campus, along with the Company’s JLABS @ South San Francisco, will continue to enable the Company to build strong relationships with entrepreneurs, scientists and investors to support and invest in highly differentiated innovations that extend and improve lives everywhere. Additionally, given the convergence of healthcare and technology in the region, the Company will increase its focus on the Johnson & Johnson Technology organization to enhance its ability to create innovative digital solutions to advance human health. Building on Johnson & Johnson’s long-standing commitment to use its expertise and resources to reduce the environmental footprint of its operations, the Bay Area hub is designed as a high-performance green campus, reinforcing the Company’s pledge to be responsible stewards in creating a healthy, more sustainable future. The aim is for the new site to receive Silver Leadership in Energy & Environmental Design (LEED) certification, the most widely used green building rating system in the world. About Johnson & Johnson At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That’s why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Today, as the world’s largest and most broadly-based healthcare company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. About the Janssen Pharmaceutical Companies of Johnson & Johnson At Janssen, we're creating a future where disease is a thing of the past. We're the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular, Metabolism & Retina; Immunology; Infectious Diseases & Vaccines; Neuroscience; Oncology; and Pulmonary Hypertension. Learn more at www.janssen.com. Follow us at @JanssenGlobal. Janssen Research & Development, LLC is part of the Janssen Pharmaceutical Companies of Johnson & Johnson. About Johnson & Johnson Innovation Johnson & Johnson Innovation LLC works across the pharmaceutical, medical device and consumer health sectors to accelerate early-stage, transformational solutions by catalyzing the best ideas, wherever they are in the world. We do this by harnessing our deep scientific capabilities coupled with a wide range of tools, including customized deal structures, company creation, incubation and startup services, capital investments and other innovative business models that aim to meet the diverse needs of entrepreneurs, scientists, and emerging companies. Our goal is to help life science and health technology innovations thrive through collaboration and partnership with the global ecosystem, so that together we can change the trajectory of human health. About Johnson & Johnson Technology Johnson & Johnson Technology solves big problems in healthcare through technology and digital innovation. Just as doctors use scalpels, we use data science, algorithms, artificial intelligence, robotics, and other digital solutions to transform patients’ lives. From guiding patients through treatment to accelerating vaccine development to enabling employees to work seamlessly from any location, our digital tools infuse our products with novelty, dexterity, and ease.

Read More

HEALTH TECHNOLOGY

Paradigm Oral Health Announces Acquisition by BlackRock Long Term Private Capital

Paradigm Oral Health | September 23, 2022

Paradigm Oral Health a leading oral surgery and digital dentistry platform announced that BlackRock Long Term Private Capital has entered into a definitive agreement to acquire a majority interest in the company from shareholders including InTandem Capital Partners. LTPC will partner with Paradigm’s executive leadership team, led by founder and CEO Dr. David Rallis, to support the company’s continued expansion and strategic growth plans. Founded in 2018, Paradigm has developed an industry-leading model designed to attract and retain best-in-class surgeons focused on delivering the highest quality of oral health care and dental implant surgery while fostering a medically-driven, patient-friendly culture of excellence. The company partners with leading oral surgery groups in markets across the United States, allowing them to maintain their unique brand identity while operating on the same platform. Paradigm’s proprietary practice management technology, Paragon, utilizes cutting-edge technology and data analytics to provide and store proprietary information and intelligence generated by the business, leading to enhanced performance as well as increased patient and provider satisfaction. Today, Paradigm and its team of over 100 surgeon partners provide patient care in 75 state-of-the-art facilities throughout the United States. “We are pleased to invest in Paradigm, which has established itself as an industry defining platform for the development and delivery of next-generation oral health solutions. Through its focus on providing superior clinical care, advanced technology, and continued training and education to its surgeon partners, the company is well positioned for long-term growth. We look forward to partnering with Dr. David Rallis and the entire Paradigm team.” Colm Lanigan, Head of BlackRock LTPC, Americas David Rallis, DDS, MD, and CEO of Paradigm Oral Health, commented, “Paradigm is advancing oral surgical outcomes and patient experience through a culture that places the needs of the patient first. At Paradigm, we validate our clinical performance through a proprietary data ecosystem and use data to reinforce our culture of excellence and accountability. Through innovation, and the rapid adoption of technology, we continue to set the standard for dental implant surgery. Aligning our company with world-class partners, first InTandem Capital and now BlackRock LTPC, has allowed Paradigm to emerge as a leader. We are humbled by the opportunity to partner with BlackRock LTPC, and excited to work with Colm Lanigan and his team as we continue to advance Paradigm as the global leader in oral surgery.” Elliot Cooperstone, Managing Partner of InTandem Capital Partners, Paradigm’s financial sponsor since 2019, commented, “InTandem Capital invests in healthcare companies that are local leaders with the ambition and potential to become a national powerhouse. Dr. David Rallis and the leadership team at Paradigm embraced our playbook for accelerated growth with amazing skill and dedication. Our deep trust in each other has allowed our partnership to flourish. My colleagues and I wish David and the Paradigm team the very best as they build on their well-deserved position as the country’s leading oral health company.” Paradigm is BlackRock LTPC’s sixth investment to date and its fourth investment in North America. Houlihan Lokey acted as financial advisor and Goodwin Procter acted as legal advisor to Paradigm. Simpson Thacher acted as legal advisor to Blackrock LTPC. About Paradigm Oral Health Paradigm Oral Health is the preeminent provider of oral surgery. Paradigm’s uniqueness comes from their ability to hire the most elite oral surgeons in the country and train them on their proprietary platform of excellence. Paradigm Oral Health continues to revolutionize and reinvent implant surgery through their ongoing technology and digital work-flow advancements. With a passion for excellence, Paradigm embraces every opportunity to meet the needs of their patients and referring dentists. About BlackRock LTPC BlackRock LTPC is an innovative private equity strategy focused on investing in high-quality businesses and value creation through active collaboration with management teams. The strategy's flexible duration and prudent approach to leverage preserve optionality for growth and help enable compounded capital appreciation. LTPC's team of 23 professionals are based in New York and London and invest across North America and Western Europe. LTPC is backed by BlackRock, Inc., which manages $320 billion in alternative investments and commitments on behalf of clients worldwide as of June 30, 2022. About InTandem Capital Partners InTandem Capital Partners is a private equity firm that invests in and helps accelerate the growth of select healthcare services companies. Its goal is to build excellent businesses of significant value working collaboratively with its management team partners. InTandem is comprised of former business executives and experienced investors, and is uniquely qualified to provide strategic, acquisition and operating expertise to help companies significantly increase their value over time. InTandem provides active support to the management of its portfolio companies directly and leverages its network of industry executives to augment its capabilities.

Read More

Spotlight

The 2015 United States of Aging Survey comprised 1,650 telephone interviews, including nationally representative samples of Americans 60 and older and professionals who work closely with them. Professionals included staff from the Area Agencies on Aging, credit union managers, primary care physicians and pharmacists.

Resources