Latest news with #Medtech
Irish Post
5 days ago
- Business
- Irish Post
Minister attends opening of leading Irish medtech firm's new manufacturing facility
A LEADING Irish medtech firm has opened a new state-of-the-art manufacturing facility in Co. Galway to increase production on one of its leading products. Neurent Medical has produced a non-surgical solution for people suffering with chronic rhinitis - a persistent inflammation of the nasal passages, which can cause symptoms such as a runny nose, nasal congestion, and post-nasal drip for more than 12 weeks. Their product Neuromark targets the underlying drivers of the condition so effectively that there is growing demand for the technology both in Ireland and in the US. To meet demand, the firm has launched its new manufacturing site at Westlink Commercial Park in Oranmore. Pictured (l-r) Minister Hildegarde Naughton, Jenny Melia of Enterprise Ireland and Brian Shields, CEO Neurent Medical 'We're proud to scale our operations in Galway, where the MedTech ecosystem continues to thrive,' Neurent Medical CEO Brian Shields said. 'Our new Westlink facility gives us the manufacturing capacity to meet growing demand for Neuromark, while creating high skilled employment opportunities and contributing to economic vitality in the west of Ireland.' He added: 'As an Irish-founded company, we're excited to manufacture our product locally with the exceptional skills available and deliver Irish-engineered MedTech innovation to the world.' The new facility will bring 125 new highly skilled jobs to the Galway area by the end of 2028, the company has confirmed. The new jobs will range across key functions in engineering, quality control, operations, supply chain management, and sales and marketing. Originating from the Enterprise Ireland-supported BioInnovate Ireland Programme, Neurent Medical has grown from concept to commercialisation within a decade, emerging as one of Ireland's medtech success stories. Minister Hildegarde Naughton and Jenny Melia, CEO (Designate) of Enterprise Ireland, who have supported the firm, were at the opening of the new site. 'I want to congratulate Neurent Medical on this significant achievement,' Minister Naighton said. 'Galway is known as a major player in medical technology, being home to eight of the world's top 10 medtech companies. 'As a native myself, I am particularly proud to see 125 new highly skilled jobs being created by a company based in Oranmore,' she added. 'It is also highly notable that this is an Irish company, supported by Enterprise Ireland, and selling into the US market. 'I have no doubt, given their impressive growth to date, that this will be but one of many major achievements for the company.' See More: Enterprise Ireland, Galway, Irish, Medtech, Neurent Medical
Time of India
27-05-2025
- Business
- Time of India
UPDF keen on launching projects
Lucknow: A delegation of the UP Diaspora Investors affiliated with the UP-Development Forum (UPDF) also participated in the Invest UP Round Table Conference held in Mumbai on Tuesday. Chairman Pankaj Jaiswal proposed an investor conclave in Lucknow and a roadshow in Dubai in partnership with UPDF to attract the diaspora and encourage investment in the state. He also made several announcements on behalf of his organisation. He said that Kapil Tiwari of the Shree Krishnanand Group has showed interest in the ready mix plaster plant in Lucknow and Noida. Once in place, the project would translate into an investment of Rs 25 crore. Jaiswal added that Rajiv Ranjan Singh of EN Communication was willing to build a Mahabharat Museum in the YIEDA area (near the upcoming international film city) with an investment of Rs 1,500 crore. He also stated that Arnav Gupta of Rimence DSP Infra submitted a proposal to expand its cold emulsion-based road patch mix plant in Lucknow with an investment of Rs 5 crore. In addition to this, Sachidanand Upadhyaya from Lords Group was willing to invest Rs 1,500 crore for setting up a factory for IVD/Medtech and Roof Top Solar. The list also included a proposal by Sachin Singh from Diasys India, who showed interest in expanding its existing plant to double its capacity with an investment of Rs 10 crore.
Yahoo
21-05-2025
- Business
- Yahoo
Freenome Appoints Linh H. Le as Chief Financial Officer
Seasoned diagnostics executive brings expertise in financial strategy and operational infrastructure development across diagnostics and Medtech industries BRISBANE, Calif., May 21, 2025 /PRNewswire/ -- Freenome, a biotechnology company pioneering an early cancer detection platform, today announced the appointment of Linh H. Le as its new chief financial officer. Linh brings more than two decades of experience in leading finance and operations across diagnostics and Medtech companies, including Ambry Genetics, Medtronic and Predicine. At Freenome, Linh will oversee financial strategy and operational execution, supporting the company as it expands its commercial footprint. "Linh has a proven track record of building the financial and operational foundations required to scale and sustain innovation," said Aaron Elliott, Ph.D., chief executive officer of Freenome. "He has led large-scale transformations, improved enterprise performance, and brings a focused, results-oriented approach that will help us execute with precision and purpose. I'm thrilled to welcome him to Freenome's leadership team." Prior to joining Freenome, Linh served as CFO at Predicine, where he implemented a best-in-class revenue cycle management system and led expansion into multiple U.S. markets. He previously held the role of chief operating officer at Ambry Genetics, where he led organization-wide change that supported significant sample volume growth and operational scalability. Earlier in his career, Linh spent 14 years at Medtronic Diabetes, where he served as CFO for the intensive insulin management business unit with oversight across North America, EMEA, and Asia-Pacific. Linh began his career in assurance practice at KPMG and management advisory practice at PwC before taking on leadership roles at The Walt Disney Company and Fox. He is a Certified Public Accountant, holds a Bachelor of Science in Business Administration and Accounting from California State University, Northridge, and completed executive coursework at the Wharton School of Business. He was named CFO of the Year by the Los Angeles Times in 2022. About FreenomeFreenome is breaking barriers to early cancer detection with a suite of blood tests built on its multiomics platform. The company recognizes that no single technology can identify every cancer due to the disease's inherent heterogeneity. Freenome's multimodal approach combines molecular biology and assays with computational biology, machine learning and multiple data types to tune into cancer's subtlest cues, even at the earliest stages of the disease. With the convenience of a standard blood draw, Freenome aims to empower everyone to access recommended cancer screenings. The company is partnering with healthcare organizations and population health decision-makers to integrate its technology and software platform, making cancer detection easier and more accessible. Freenome is headquartered in Brisbane, California. Find out more at and visit us on LinkedIn. View original content to download multimedia: SOURCE Freenome Holdings, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
21-05-2025
- Business
- Associated Press
Freenome Appoints Linh H. Le as Chief Financial Officer
Seasoned diagnostics executive brings expertise in financial strategy and operational infrastructure development across diagnostics and Medtech industries BRISBANE, Calif., May 21, 2025 /PRNewswire/ -- Freenome, a biotechnology company pioneering an early cancer detection platform, today announced the appointment of Linh H. Le as its new chief financial officer. Linh brings more than two decades of experience in leading finance and operations across diagnostics and Medtech companies, including Ambry Genetics, Medtronic and Predicine. At Freenome, Linh will oversee financial strategy and operational execution, supporting the company as it expands its commercial footprint. 'Linh has a proven track record of building the financial and operational foundations required to scale and sustain innovation,' said Aaron Elliott, Ph.D., chief executive officer of Freenome. 'He has led large-scale transformations, improved enterprise performance, and brings a focused, results-oriented approach that will help us execute with precision and purpose. I'm thrilled to welcome him to Freenome's leadership team.' Prior to joining Freenome, Linh served as CFO at Predicine, where he implemented a best-in-class revenue cycle management system and led expansion into multiple U.S. markets. He previously held the role of chief operating officer at Ambry Genetics, where he led organization-wide change that supported significant sample volume growth and operational scalability. Earlier in his career, Linh spent 14 years at Medtronic Diabetes, where he served as CFO for the intensive insulin management business unit with oversight across North America, EMEA, and Asia-Pacific. Linh began his career in assurance practice at KPMG and management advisory practice at PwC before taking on leadership roles at The Walt Disney Company and Fox. He is a Certified Public Accountant, holds a Bachelor of Science in Business Administration and Accounting from California State University, Northridge, and completed executive coursework at the Wharton School of Business. He was named CFO of the Year by the Los Angeles Times in 2022. About Freenome Freenome is breaking barriers to early cancer detection with a suite of blood tests built on its multiomics platform. The company recognizes that no single technology can identify every cancer due to the disease's inherent heterogeneity. Freenome's multimodal approach combines molecular biology and assays with computational biology, machine learning and multiple data types to tune into cancer's subtlest cues, even at the earliest stages of the disease. With the convenience of a standard blood draw, Freenome aims to empower everyone to access recommended cancer screenings. The company is partnering with healthcare organizations and population health decision-makers to integrate its technology and software platform, making cancer detection easier and more accessible. Freenome is headquartered in Brisbane, California. Find out more at and visit us on LinkedIn. View original content to download multimedia: SOURCE Freenome Holdings, Inc.
Yahoo
28-04-2025
- Business
- Yahoo
AddLife AB (FRA:1AD1) Q1 2025 Earnings Call Highlights: Strong Margin Improvements and ...
Release Date: April 25, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. AddLife AB (FRA:1AD1) reported significant EBITDA margin improvements in both Labtech and Medtech business areas, with Labtech achieving a 12.1% margin and Medtech 13.5%, marking a nearly 2% improvement over the previous year. The company experienced a healthy revenue development across most geographies, with notable growth in Spain and Italy, which saw year-over-year increases of 22% and 29%, respectively. Operating cash flow improved significantly compared to the previous year, helping to reduce net debt to EBITDA to 2.8%, below the company's target of 3.0%. AddLife AB (FRA:1AD1) successfully completed the acquisition of Edge Medical, a company with high margins and strong growth potential in the orthopedic surgery segment. The company is well-positioned to handle global trade disruptions, with over 90% of revenues and 80% of suppliers based in Europe, reducing exposure to international trade uncertainties. There was a slight weakness in the UK market due to a large instrument order in the previous year that was not repeated this quarter. Medtech's organic growth was flat, primarily due to strong instrument sales in the UK last year that were not replicated this quarter. The company noted some hesitation in academic research investments, which could impact future growth in that segment. There was a slight weakness in demand in the home care area, driven by external factors such as government hesitancy to spend on large construction projects. Despite improvements, some subsidiaries are still not achieving the desired double-digit margins, indicating ongoing challenges in certain areas. Warning! GuruFocus has detected 9 Warning Signs with FRA:1AD1. Q: Could you specify which Medtech companies showed significant margin improvements this quarter? Additionally, could you explain the 90 million krona provision in the gearing improvement? A: We observed margin improvements across the board, with larger companies showing gradual improvements and smaller companies performing exceptionally well. Regarding the provision, it was a long-term provision that was settled, with a corresponding receivable, so there was no impact on cash flow or profit and loss. Unidentified_1 and Unidentified_2 Q: Can you elaborate on the strong performance in Spain and Italy, and were there any one-offs contributing to this growth? Also, can you quantify the impact of tender wins on Labtech's performance? A: There were no major one-offs in Spain and Italy. Our Spanish business, particularly MBA, showed solid growth and margin improvement. In Italy, we had good orders in Labtech. Regarding tenders, while we've seen positive results, it's challenging to quantify their impact as the full effects are not yet reflected in the numbers. Unidentified_1 Q: Are there still opportunities for margin improvements in Medtech, or have you exhausted all possibilities? A: We are seeing gradual improvements across most companies, driven by daily initiatives, cost consciousness, and product portfolio evolution. We are also pruning less profitable products. While some companies are back in solid double-digit margins, others still have work to do. Unidentified_1 Q: Did you notice any slowdown in instrument sales or diagnostics towards the end of the quarter? A: Unlike Q1 2024, where we saw a slowdown in March, this year was more stable throughout the quarter. Diagnostics remain stable with underlying growth, supported by tenders. The weakness in academic research persists but isn't worsening. Unidentified_1 Q: With a strengthened balance sheet, are you seeing increased competition for acquisition targets compared to two years ago? A: While there might be slightly more interest in the segment, the competition hasn't drastically changed. Our pan-European coverage and focus on advanced products give us a unique position. We have a good list of candidates for this year and are actively working on targets for 2026. Unidentified_1 For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
