Blog

05/26/2020
COVID-19 Test Kit

U.S. Slow To React To COVID-19 Swab Test Shortage, Despite Adequate Warnings

After months of receiving complaints that coronavirus test shortages are a problem among states, President Trump and his administration team stated that they will now spend billions of dollars helping make the tests more widely available to the public. However, many labs claim that they have plenty of tests, which indicates that there is some kind of...

05/22/2020
FDA- COVID-19

FDA Fights Scammers and Fraudulent Medical Products During COVID-19 Outbreak

On May 7, 2020, the Food and Drug Administration (FDA) provided an update on the agency’s efforts to control companies and individuals that are taking advantage of or exploiting the fear among citizens during the COVID-19 pandemic. As the number of scammers on the internet selling fraudulent medical products continues to rise, the FDA has taken steps to...

05/19/2020
Why sell on Oisto

Why You Should Sell Medical Equipment and Disposables on Oisto

Now more than ever, medical supplies are in high demand. Hospitals and healthcare systems are paying higher-than-average for equipment and supplies they need to treat patients, and this is creating shortages within the manufacturing chain. Additionally, the growth rate of the medical industry is expected to skyrocket by 2025. It’s the perfect time to...

05/13/2020
Abiomed

Abiomed Acquires Artificial Breathing Machine For Possible COVID-19 Treatment

Medical technology company Abiomed acquired an artificial breathing device designed by Breethe to work with its Impella heart pump and treat patients whose lungs can no longer oxygenate the body, including those who suffer from cardiogenic shock or respiratory failure due to SARS, H1N1, ARDS, or COVID-19. Breethe is the developer of the extracorporeal...

05/12/2020
stryker

Elective Surgery Halt Threatens 50% of Stryker’s Revenue

According to a recent earnings call, Stryker saw a 65% drop in orthopedics and spine sales during the month of April alone. The Michigan-based medical technical manufacturing company is particularly vulnerable to the near halt on elective surgeries due to COVID-19 as nearly half of their revenue is linked to elective surgery procedures. CEO Kevin Lobo...

05/12/2020
Medical equipment

Northeastern States Team Up To Buy $5 Billion In Medical Equipment As Prices Soar

Seven states in the Northeast have come together to buy $5 million worth of medical equipment and supplies, such as ventilators and PPE or   personal protective equipment , during the COVID-19 outbreak. The states are teaming up in an attempt to overcome the obstacles and price hikes associated with the equipment among different regions. The...

05/11/2020
covid-19

FDA Outlines Procedures For Companies Expecting COVID-19 Related Product Shortages

The FDA created a new COVID-19 guidelines document detailing when and how medical device manufacturers need to report changes to their products that affect availability. The CARES Act that was signed in late March of 2020 stated that medical device manufacturers that were deemed critical to the COVID-19 emergency by the Secretary of Health and Human...

05/10/2020
Personal protective equipment

COVID-19 Costs American Healthcare System $200 Billion In Four Months

According to a new report published earlier this month by the American Hospital Association (AHA), hospitals and healthcare systems are facing unprecedented financial pressures and losses due to the current COVID-19 pandemic. The report predicts that American healthcare systems will lose $200 billion within the first four months of the pandemic,...

05/08/2020

Smith & Nephew Cut Costs By $200 Million Due To Canceled Elective Procedures

Medical device manufacturing company Smith & Nephew saw a 47% drop in revenue in April as the coronavirus pandemic caused the deferment of elective procedures. The British multinational supplier suffered from a drop in demand for its devices, especially from the United States. According to the company’s first-quarter results , United States sales, which...

05/02/2020
Medical Device Global Market

Impact of COVID-19 on 2020 Global Medical Device Outsourcing Market, Analysis Forecast For 2026

The medical device outsourcing process requires the hiring of a third-party for various purposes. Examples may include supply chain management, manufacturing, product designing, and prototyping. This helps the OEM decrease their labor cost and production time. Research shows that medical device outsourcing is a relatively new concept that focuses on a...

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