N.C. to test cost savings healthcare program (Weekend Rounds)

Life science current events this week include North Carolina to test a private-sector cost-savings program, Belgian medical device company genae comes to Cleveland, and CardiOx raises $8M.

A review of life science current events reported by MedCity News this week:

North Carolina Medicaid coordinator program pilots for private sector. North Carolina will become a healthcare reform test bed through a new public-private partnership that aims to see if a Medicaid management program that has saved more than $1 billion can also bring savings and efficiencies when applied to the private sector.

Belgian medical device CRO picks Cleveland for U.S. headquarters. Antwerp, Belgium-based genae is looking to build its U.S. business in managing clinical trials for both large and small medical device companies, said Dimitri Buytaert, president of genae Americas. Clinical research organizations (CROs) provide medical technology companies with outsourced clinical trial management services, such as site selection, data management, monitoring and regulatory compliance.

Heart test company CardiOx closes $8M series C round. CardiOx is developing a noninvasive way to detect right-to-left heart shunts (a defect known as a patent foramen ovale or PFO), which in some people can lead to strokes, heart attacks and migraine headaches. CardiOx’s approach combines an injection of dye into a patient’s heart with sensors on the ear to determine the presence of a shunt. The device also can be used to verify that surgery succeeded in patching the hole.

Minnesota health IT firm sees rapid growth, now seeks capital. Earlier in August, the health IT firm made the list of Inc. magazine’s 5,000 fastest-growing, privately held companies for the fifth year in a row. This time, MedNet Solutions ranked 4,085 and showed a 30 percent growth in three years with revenue climbing to $11.2 million last year from $8.6 million in 2008.

Cleveland Clinic targets heart, cancer care for hospital affiliation program. Establishing partnerships around heart care, cancer care and neurology are the top priorities for Cleveland Clinic in its hospital affiliation program.