GE told FierceMedicalDevices in an email that the recall was voluntarily initiated following a single safety incident in India, where some users had disabled the so-called magnetic rundown unit, because the company "wanted to ensure that the human error was not occurring at other sites globally."
GE touted the strength of its healthcare business in the U.S., saying the country compensates for slowing growth in countries like Japan and Russia and is a headwind against unfavorable exchange rates abroad.
Israeli medical device company InSightec closed a $59 million Series D round led by major institutional investors in the U.S. and Asia. It's left room for existing shareholders to invest an additional $3.5 million through the end of January.
Medical students who were trained to diagnose valvular heart disease using hand-held echocardiography technology performed better than students trained to diagnose the disease using only traditional methods, such as listening for heart murmurs with a stethoscope.
As chronic liver disease numbers continue to skyrocket, diagnostics heavyweight GE Healthcare and Japanese-based Takeda are teaming up to develop new drugs to counter the trend.
The growing scourge of liver disease in the developed world has spurred a frenzied race among drug developers to ferret out new therapies, and Takeda, new to the field, has recruited the diagnostics experts at GE Healthcare to shepherd its early R&D efforts.
GE Healthcare has opened its first health tech startup campus at its Finland headquarters in Helsinki. It's already home to 20 health tech startups working on wireless technologies, sensors, apps and cloud services to improve healthcare.
John Dineen has already found a posh new gig only a few weeks after his departure from GE Healthcare as its newpresident and CEO was announced. He will join private equity firm Clayton, Dubilier & Rice (CD&R) early next year as an operating adviser to its funds.
Deerfield Management is looking to back a startup that's cornering about one-quarter of the world's supply of a radioisotope commonly used to create diagnostic imaging agents, molybdenum-99 (moly-99). The firm has backed Shine Medical Technologies, which has a novel technology to produce this material, with up to $125 million in debt and equity to build a manufacturing plant in Wisconsin.
GE has appointed John Flannery as the president and CEO of GE Healthcare. He was previously the SVP of business development at the company. The move comes after the healthcare division shrank a bit during the first half.