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Medical Vices
Billion-dollar acquisitions in the medical device space are becoming ever more common. This trend has been going on for a few years and shows no signs of stopping. The latest is Xodus Medical having been acquired by Steris for $2.1B.
The regulatory framework for devices is much more forgiving than pharmaceuticals and the cost of surgeries has only gone ever higher by the year.
Pharmaceutical companies take the blame head on when the price of their products goes up. But surgical devices? Not so much.
Have you ever heard anyone complain specifically about the cost of a surgical device? Unlikely. Probably because there's no surgical device equivalent to a pharmacy. The costs are buried in cryptic medical bills.
That one-step removal from the consumer enables amazing price increases with no political flak and that’s what you call a growth industry in America.
For Lease
The Cambridge, MA biotech hub has historically had a reasonable amount of lab space. Because of this, the market was always relatively tight, and developers and landlords had reliable incomes.
At its tightest in Feb 2020, the vacancy rate in the Boston area was 0.8% with East Cambridge clocking a 0.0%.
The 2020-21 investment boom changed everything and builders went berserk. Now, vacancy rates are in the 30% range.
Even if funding comes back to pre-boom levels, this excessive amount of lab space is going to haunt the market for years to come.
Standing Ovation
A lot of supposed comedy shows are crappy these days. Or at least overly dramatic. So, maybe it's not so crazy to name a hemorrhoid remedy "Sitcom"?
Team Roast - Letter Deficit
Someone had the great idea to spell out Relay by having one member of the team hold each letter.
And it worked great until everyone realized there were eight team members.
Not to leave them hanging, the leftovers got to hold blank pieces of paper.
Teamwork!
Soar High
In an odd turn of events, Catheter Precision pivoted from medical devices and changed its name to Flyte Aviation. They will now focus on renting out regional jets.
Meanwhile this company features an airplane prominently on their home page but are sticking to their work on drug products.
What an inspired name they have as well: PharmaBio Corporation.
Bad Bro
Infamous pharma CEO and former federal prisoner Martin Shkreli has been active on Twitter and elsewhere talking about pharmaceutical stocks for some time.
The problem is his release agreement forbade him from:
“...directly or indirectly participating in any manner in the pharmaceutical industry,” including by “[a]cquiring or holding an Ownership Interest in a Pharmaceutical Company”
Now the FTC is very mad with him and holding him in contempt.
At least he has no more one-of-one Wu-Tang Clan albums left to be repossessed.
Deeper Impakt
Last week we ragged on Impakt Health for their Team page.
This week we use their contact page to bring light to how spellcheck is not a substitute for someone who knows the language.
"Fell free contact us toady and get your solution"
Who you callin' toady! How rude!
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