Showing all posts written by Keith Lim
He worked at Lockheed Martens Corporation as an inventor, where he graduated from their leadership program, completed his Master’s degree, obtained a patent award, and became the youngest member of the Patent Review Board. His experiences involved FPGA firmware coding, system architecture for transceivers, RF path analysis, Matlab simulation coding for sonar systems and a space fence, and hands-on integration and test. He also worked for BAE Systems, Bell-Labs, and Micron Technology.
Before attending law school, Mr. Lim worked for a law firm in Korea in their international department. During law school, he served as a notes editor in the Michigan Telecommunications and Technology Law Review.
Mr. Lim joined the firm in 2015. Click here to read full bio
Fitbit, Inc. reported its quarterly results which led to an 10% increase in its share price.
The company recently announced that Adam Pellegrini will join the company as Vice President of Digital Health on September 6th. According to the press release, Pellegrini has over 20 years of experience across multiple sectors in healthcare and was previously Walgreens Boots Alliance’s Vice President responsible for integrating digital health with the company’s wearables. According to the press release, Pellegrini is tasked to connect Fitbit’s products, information, data, and insights in new and innovative ways into clinical settings, and to develop new partnerships with healthcare, pharma, and medical device companies.
According to press releases, Fitbit products have been used frequently in clinical trials with scientists having already performed more than 200 studies based on 2 billion minutes of Fitbit data. One article professes that wearable devices can not only detect subtle shifts in biometrics, like heart rate and body temperature, but can also help women become pregnant with research indicating a spike from a resting heart rate before ovulation.
Although currently not a substitute for your annual checkup, wearable devices could potentially in the future suggest medical diagnoses, administer medication, and provide counseling.
Smith & Nephew recently announced that it will sell its gynecology business to Medtronic for $350 million. As part of the sale, Medtronic will obtain Smith & Nephew’s key gynecological surgical solution, called the TRUCLEAR System. The System is a medical technology platform used to remove abnormal uterine tissue such as polyps and fibroids for diagnostic biopsy. According to Smith & Nephew’s press release, the TRUCLEAR System generated about $56 million in revenue in 2015, which represented approximately 1% of Smith & Nephew’s total revenues.
Regarding the decision to sell its gynecology business, Olivier Bohuon, CEO of Smith & Nephew, stated:
Smith & Nephew’s management team has a strong track record of creating value through organic growth and by acquisition. The sale of our Gynaecology business demonstrates our disciplined strategic approach to capital deployment and to crystallising value through divestiture at the right time.
The quality of the Gynaecology business was reflected by the strong interest from potential buyers, allowing us to obtain an attractive valuation. Our shareholders will benefit directly from the return of the proceeds through a share buy-back programme, in-line with our capital allocation framework. Gynaecology and its employees will benefit from a new owner with a synergistic platform looking to take the business to the next level.
Smith & Nephew completed five acquisitions in 2015, primarily focusing on robotic surgery and sports medicine. For example, in October of 2015, Smith & Nephew announced that it would acquire Blue Belt Holdings, Inc. for $275 million to secure its position in the orthopedic robotics-assisted surgery.
On February 2nd, 2016, Abbott announced its acquisition of Kalila Medical, Inc., a private medical device company using cardiac electrophysiology procedures for the treatment of heart rhythm disorders. According to the press release, the California-based company developed a steerable sheath (Vado®) for atrial fibrillation and other electrophysiology procedures. The technology helps clinicians by improving torque response, prevent whipping, and provide better navigation ability.
“Atrial fibrillation is a serious condition that increases the risk of stroke and causes severe symptoms in many patients, but remains undertreated today because current technologies have limited effectiveness,” said electrophysiology GM Michael Pederson. “With this acquisition, Abbott gains a unique technology to expand our portfolio of tools for the treatment of atrial fibrillation and other heart rhythm disorders. We look forward to initiating the launch of this innovative sheath in the United States and Europe in the coming weeks.”
Abbott has made other acquisitions relating to arrhythmia diagnosis and management. In October, 29, 2014, Abbott announced its agreement to purchase Topera, Inc. for $250 million, another private medical device company that developed a novel diagnostic catheter and mapping software, which help physicians identify the electrical source of complex cardiac arrhythmias. Abbott also secured the right to purchase Advance Cardiac Therapeutics, Inc. in the future, a medical device company that develops temperature-sensing irrigated radiofrequency ablation catheters for treatment of atrial fibrillation. Abbott also joined with GE for a collaborative effort to improve diagnostics for patients with atrial fibrillation.
According to the press release, atrial fibrillation is the most common heart rhythm disorder, with five million new cases reported annually. Some estimate the global electrophysiology market to grow at a compound annual growth rate of 10.3% from 2014 to 2019, to reach a market of $4.73 billion.