News

Will health reform help/hurt Cleveland Clinic? (Weekend Rounds)

It’s too early to tell whether the controversial federal health overhaul package will help or hurt the Cleveland Clinic, but CEO Toby Cosgrove says the new law will increase health costs throughout the United States.

Here are some of the top stories at MedCity News this week:

  • With an estimated 300 million clinically obese people on the planet, companies that are looking to help ease the epidemic likely will have no shortage of customers. And investors looking to cash in on this opportunity have a new candidate for their dollars: Columbus startup EndoRetics Inc. is developing a clamp-like device designed to shrink the opening in a patient’s stomach and restrict food intake.
Sponsored Post

Physician Targeting Using Real-time Data: How PurpleLab’s Alerts Can Help

By leveraging real-time data that offers unprecedented insights into physician behavior and patient outcomes, companies can gain a competitive advantage with prescribers. PurpleLab®, a healthcare analytics platform with one of the largest medical and pharmaceutical claims databases in the United States, recently announced the launch of Alerts which translates complex information into actionable insights, empowering companies to identify the right physicians to target, determine the most effective marketing strategies and ultimately improve patient care.

  • There’s little doubt that Minnesota’s historic $60 million angel investment tax credit has received the lion’s share of publicity. But lost in the same jobs bills that passed in April is a gem whose importance rivals or even exceeds the angel credit. Beginning in 2011, companies can receive a tax credit for the first 10 percent of up to $2 million of qualified research and development expenses, and 2.5 percent for costs above $2 million.
  • Envoy Medical Corp. should send Rush Limbaugh a fruit basket. Thanks in large part to Limbaugh’s plug on his popular radio show, Envoy in White Bear Lake, Minnesota, recently raised another $16.4 million, including $10 million from hearing aid powerhouse Starkey Laboratories Inc., for its implantable hearing device, Esteem. The latest financing round, which closed at the end of September, brings Envoy’s total take to $140 million.
  • It took nearly 15 years, $105 million, a name change and countless technical hiccups, but Envoy Medical Corp. investors can finally see the endgame. Roger Lucas, a former senior vice president and chief scientific officer for biotech Techne Corp. who also is an Envoy investor, said he believes the White Bear Township, Minnesota, maker of the Esteem implantable hearing device will go public in two years and reach a $3 billion-to-$5 billion market cap.