TOP STORIES
Helius Medical Technologies and the U.S. Army Medical Research and Materiel Command have announced the launch of a Phase 3 clinical trial to investigate the safety and effectiveness of the Portable Neuromodulation Stimulator 4.0. It’s a non-invasive brain stimulation device that is being developed for the treatment of balance disorder in patients with mild-to-moderate Traumatic Brain Injury.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
India is seeking damages of 6.39 billion rupees, or $99.3 million, from Swiss group Nestle after a food scare involving reports of excess lead in the popular Maggi noodles that forced a nationwide recall. — Reuters
LIFE SCIENCES
GE has agreed to sell its Healthcare Financial Services business, part of GE Capital, to Capital One Financial Corp. in a $9 billion deal. The deal includes each of the three HFS lending segments — corporate finance, real estate and life sciences. It is part of an effort to sell most of GE Capital’s assets. GE Capital will retain the financing “verticals” that relate to GE’s industrial businesses, according to the statement, including a unit that provides healthcare equipment financing to GE Healthcare customers and others. Capital One doesn’t anticipate any staff changes with the acquisition and the deal is expected to close in the fourth quarter of the year. — GE
Celmatix announced that Dr. Daniel H. Farkas has joined the company as Chief Clinical Laboratory Officer. Dr. Farkas will head up Celmatix’s new clinical laboratory as the company prepares to launch the world’s first genetic testing panel for fertility disorders. — Business Wire
Ovid Therapeutics Inc., a privately held biopharmaceutical company focused on developing therapies for rare and orphan diseases of the brain that MedCity News has broken news on previously, announced that it has completed a Series B financing totaling $75 million. — Ovid Therapeutics
PAYERS-PROVIDERS
Saint Michael’s Medical Center in Newark, N.J., a subsidiary of Trinity Health, filed for chapter 11 bankruptcy, according to a NJ Spotlight report. Although Trinity Health has deep pockets, Saint Michael’s is financially distressed. The hospital is on track to post a $24 million operating loss this year, according to the report. — Becker’s Hospital Review
TECH
South by Southwest 2016 (SXSW16) is looking for help to whittle down the number of panels it is holding at its annual conference. Rock Health has flagged up its digital health picks to vote on. — Rock Health
Premier has acquired Healthcare Insights for $65 million in a deal that will give it financial management software designed for hospitals and healthcare systems with budgeting, forecasting, labor productivity and cost analytic capabilities.
— Premier
As part of a new partnership with the National Basketball Association, Under Armour will help the sporting organization develop a new consumer app, called NBA Fit. — MobiHealthNews
POLITICS
The attack on Planned Parenthood by The Center for Medical Progress with the release of videos concerning fetal tissue sales was part of a strategic plan, orchestrated for more than two years and geared toward the political climate preceding the 2016 presidential race. — The Hill
A LITTLE BIT EXTRA
Salesforce announced five new Apple Watch apps that were developed by its partner companies as part of its Salesforce Wear development program.
The apps, as you might imagine, are geared toward making enterprise employees better equipped to provide better customer service. Salesforce said it has actually developed 20 new Watch apps, but talked about only six of them at a press event in San Francisco today. — VentureBeat
