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MEDICAL DEVICE NEWS MAGAZINE

A DIGITAL PUBLICATION FOR THE PRACTICING MEDICAL SPECIALIST, INDUSTRY EXECUTIVE AND INVESTOR

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Biotechnology News Magazine

Zynex Announces Acquisition of Kestrel Labs

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Zynex, Inc. (NASDAQ: ZYXI), an innovative medical technology company specializing in the manufacture and sale of noninvasive medical devices for pain management, rehabilitation, and patient monitoring, today announced it has acquired 100% of Kestrel Labs, Inc., a laser-based, noninvasive patient monitoring technology company. Kestrel Labs’ laser-based products include the NiCO™ CO-Oximeter, a multi-parameter pulse oximeter, and HemeOx™, a total hemoglobin oximeter that enables continuous arterial blood monitoring. Both NiCO and HemeOx are yet to be presented to the FDA for market clearance.

The transaction closed on December 22, 2021 at an approximate value of $31.0 million, consisting of $16.0 million in cash which is being financed through Bank of America N.A. and approximately $15.0 million in Zynex common stock.

Kestrel Labs’ proprietary NiCO CO-Oximeter laser-based photoplethysmography patient monitoring technology identifies, measures, and monitors four crucial species of hemoglobin, which include O2Hb (oxygenated hemoglobin), RHb (reduced hemoglobin), COHb (carboxyhemoglobin), and metHb (methemoglobin). In addition, Kestrel Labs’ technology is designed to measure O2Hb regardless of skin pigmentation or COHb level, and with unprecedented accuracy. HemeOx measures total hemoglobin (tHb) and oxygen saturation, two critical parameters that typically require invasive arterial blood sampling for measurement. Total hemoglobin is a very commonly ordered blood test in healthcare, and HemeOx measures it with the continuous and noninvasive ease of a pulse oximeter at the patient bedside.

“I am very excited to add several laser-based pulse oximetry monitoring products to our portfolio of noninvasive blood, fluid, and sepsis monitors,” said Thomas Sandgaard, Founder, Chairman, and CEO of Zynex. “We will begin integrating Kestrel Labs’ two main products into our existing monitoring portfolio and seek regulatory clearance. Kestrel Labs’ laser-based technology allows it to measure distinct parameters, including for the first time the ability to distinguish between hemoglobin bound to carbon monoxide (COHb) rather than to oxygen, which would lead to better quality of care.”

“Our proprietary laser-based technology will complement Zynex’s current patient monitoring portfolio,” said Jonas Pologe, Co-Founder and former CEO of Kestrel Labs. “We are thrilled about the potential synergies and believe the combination of our technologies will advance the future of patient monitoring. Zynex’s proven ability to commercialize products and grow profitably, combined with Zynex Monitoring Solutions’ portfolio of hospital monitoring products, create a clear road map for success.”

Executives

Jill Canada Appointed VP of Corporate and Enterprise Sales at Avail Medsystems

With Ms. Canada's hire, Avail furthers its continued organizational expansion including moving from a business incubator into a larger headquarters in May 2021, a $100 million Series B funding round, the ongoing expansion of contracts with medical device industry clients, and the addition of console locations across the US.

Richard John Daly Appointed President of CARsgen Therapeutics Corporation

Mr. Daly brings approximately 30 years of experience in pharmaceutical industry, including leadership positions in multi-national corporations and biotech companies. Prior to joining CARsgen, Mr. Daly served as Chief Operating Officer of Beyond Spring, Inc.

Getinge appoints Patricia Fitch as President North America Region

Patricia Fitch joined Getinge in March 2021 as Vice President US Sales covering the Acute Care Therapies division. Patricia has more than 30 years of...

FDA Updates

Endomina System, a New Suturing Tool for Use by Gastroenterologists Receives FDA Clearance

“This technology is a very meaningful addition to our armamentarium for performing procedures requiring suturing,” said Dr Ivo Boškoski from Policlinico Gemelli, Rome, Italy.

VUZE Medical Announces U.S. FDA 510(k) Clearance for Its VUZE System

VUZE Medical, a privately held medical technology company aimed at transforming image guidance and verification in minimally invasive spine surgeries, has received 510(k) clearance...

FDA Approves Cochlear Nucleus Implants for Unilateral Hearing Loss/single-sided Deafness

Cochlear implants are already FDA approved for those with moderate to profound bilateral sensorineural hearing loss. With this approval, for the first time Cochlear can expand implantable treatment options for those with UHL/SSD to include cochlear implants.
Medical Device News Magazinehttps://infomeddnews.com
Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.
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Philips Integrates Cloud-based AI and 3D Mapping into its Mobile C-arm System Series – Zenition

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Clario and XingImaging Expand Partnership

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Trials

Patient Enrollment is Complete in the DOD-Funded Study of Extracorporeal Hemopurification of Critically Ill COVID-19 Patients

“We expect the first peer-reviewed PURIFY-OBS clinical trial publication soon, now that the study has concluded. We are pleased to see these consistent and very positive results and we’re pleased to know we have helped save the lives of many critically-ill COVID-19 patients,” said ExThera Medical CEO Robert Ward.

AtriAN Medical’s Clinical Data Update on the Neural AF Multi-center Study

Pioneering cardiac autonomic pulsed field ablation (PFA) technology provides a unique option for enhancing the durability of AF ablation.

Other News

Endomina System, a New Suturing Tool for Use by Gastroenterologists Receives FDA Clearance

“This technology is a very meaningful addition to our armamentarium for performing procedures requiring suturing,” said Dr Ivo Boškoski from Policlinico Gemelli, Rome, Italy.

ACI Donates 500,000 N95 Respirators to Project N95

“Throughout this pandemic our focus has been on protecting healthcare workers and our general population by providing an affordable, quality American-made N95 for as many Americans as possible.