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Mayo Clinic revenue was up for 2020 with the help of $182 million in CARES funds Mayo Clinic released its 2020 financial report today, which showed total revenue of $13.9 billion was up 1.5 percent from 2019. The net operating income was $727 million, down from the record $1 billion reported in 2019. Net medical service revenue declined to $11.5 billion from $11.6 billion in 2019, but revenue from Mayo Clinic Laboratories and Mayo Clinic Ventures more than made up the difference. Written By: Jeff Kiger | × Mayo Clinic publicly reported its “Unaudited Condensed Consolidated Financial Reports” for the second quarter and the first six months of 2020 filed with the Municipal Securities Rulemaking Board. ....
Rochester phone app firm evolves into $925 million heart monitor maker The story of how a group of southeastern Minnesota software developers ended up creating one of the top remote cardiac monitor devices in the world starts with Rochester’s mix of cutting-edge technology and innovative health care. 5:30 am, Feb. 20, 2021 × Preventice co-founders, from left, Scott Burrichter, Jon Otterstatter and Greg Wobig Tuesday, Feb. 16, 2021, in Rochester. Preventice is being acquired by Boston Scientific. (Joe Ahlquist / [email protected]) In 2007, four men sitting around a table in Rochester hammered out a rough idea to start a smartphone app firm. Their plans later morphed into a remote heart monitor manufacturer purchased by Boston Scientific for $925 million in cash in January. ....
.} VANCOUVER, BC, Feb. 2, 2021 /PRNewswire/ - Equicare Health, Inc. announces the appointment of Christopher Hanna, Ph.D. to the Board of Directors. He re-joins long time colleagues, Greg Peet and Len Grenier, as the fifth member of the Equicare Board. Christopher Hanna (CNW Group/Equicare Health Inc.) I am pleased to welcome Chris to Equicare Health s Board of Directors. He brings a wealth of experience in health care IT and cancer care to Equicare s Board as we work to broaden our product scope by leveraging our core strengths, said Len Grenier, CEO of Equicare Health, Inc. This is an exciting time as we continue to develop strategic relationships while evolving the role of care coordination as a key tool to support those with chronic diseases like cancer for millions of patients. ....
Boston Scientific to pay $1B for portable heart monitor maker in Eagan Dee DePass, Star Tribune Boston Scientific has agreed to buy Eagan cardiac monitor maker Preventice Solutions Inc., in which it already had a 22% stake, for nearly $1 billion, the company said Thursday. The deal, expected to close this summer, includes a net cash payment of $720 million plus possible commercial milestone payments of up to $230 million. Preventice is a fast-growing company founded in 2007. Last year, sales increased 30% to $158 million. The company, which employs 500 people and also has offices in Houston and Rochester, Minn., is part of the cardiac diagnostic and services market that is estimated to be worth $2 billion and grow double digits each year. ....
Share This morning nference, maker of a software platform that helps to synthesize biomedical information, scored $60 million in Series C funding. Matrix Capital Management led the round with participation from Matrix Partners, Mayo Clinic Ventures and NTTVC. WHAT IT DOES The company has developed a software that makes it easy for researchers, doctors and industry players to search for biomedical information. Users can tap into the tool to find scientific literature, clinical regulatory filings, genomic data and molecular data from the public domain, according to the release. The company inked a deal with the Mayo Clinic to collaborate on a clinical data analytics platform aimed at using de-identified data to improve patient care. The two will also be working on efforts to speed up drug discovery. According to the company’s website, it will zero in on targets and biomarkers for patient-therapy matching and real-world evidence applications. ....