Lunit opens European unit to hasten expansion

Lunit opens European unit to hasten expansion

South Korean medical AI company Lunit has announced its decision to establish a wholly-owned subsidiary in Europe.According to a press release, Lunit Europe Holdings will be based in Amsterdam in the Netherlands and will begin local staff recruitment shortly. 
WHY IT MATTERS
Although Lunit had a branch office which previously managed its European business, its subsidiary in the continent will allow it to plan for the expansion of its sales network and fortify existing partnerships there. 
According to data from Statista, the European medical device market is expected to be worth $136 billion this year. Its biggest segment is cardiology devices with a projected…

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PBMs Come Under Fire During Senate Hearing

PBMs Come Under Fire During Senate Hearing

Pharmacy Benefit Managers (PBMs) took a hit from lawmakers during a Thursday hearing held by the Senate Commerce Committee, with some questioning why the drug middlemen are even necessary.
“The way I see the situation on PBMs, I don’t know why the hell they even exist,” said Sen. Jon Tester, D-Montana. “They were set up with all the right reasons … But what I see them doing in my state, I don’t think the consumer gets much benefit and they’re shutting down small businesses on main street right and left and those are called our local neighborhood pharmacies.” The hearing discussed how…

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Demo of the LG TV Integration with Amwell

Demo of the LG TV Integration with Amwell

At a recent conference, I had a chance to chat with Atul Singh, General Manager, Digital Health at LG Electronics about their relatively recent virtual care solution with Amwell. It makes a lot of sense why Amwell and LG would want to work together. Many hospitals and healthcare organizations have already installed LG TVs in their organizations or they will as they build new hospitals or update their existing exam rooms. Those TVs often act as a hub of information for a patient and increasingly are becoming a patients connection with their nurses and doctors.Given that final piece, LG and Amwell…

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Blood Biotech Grifols Cuts Deep in the U.S. to Find €400M in Savings

Blood Biotech Grifols Cuts Deep in the U.S. to Find €400M in Savings

Grifols, a company that turns blood plasma into therapies for immunological disorders and other conditions, is laying off about 2,000 U.S. workers as part of a corporate restructuring projected to yield up to €400 million in annual cost savings, the biotech announced Wednesday.
The layoffs represent about 8% of the Barcelona-based company’s global workforce, but they will happen mainly in its U.S. plasma operations. That’s notable because as a company that relies on plasma, the U.S. is vital to its business. The starting point for Grifols’s therapies is blood plasma. Key to its drug-making process is fractionation, in which the protein components…

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