Longtime CEO Thomas Oland resigned in November and said he disagreed with the board’s decision to consider external candidates for his successor; now, the board has tapped an outsider as its next leader.
Health Care + Med Tech
CEO John Noseworthy said the Mayo Clinic will likely see a 20 to 40 percent annual revenue decline in the next five years due to cuts in Medicare, the arrival of state-run health exchanges, and other changes facing the health care industry.
Welcyon, Fitness After 50, which now has three locations, plans to add 20 more by the end of the year.
Profits grew 18 percent in the fourth quarter and 20 percent for the full year, thanks to a boost in club membership, strong sales in clubs open for at least 13 months, and a boost in sales of the company’s ancillary services.
Sales also declined in the cardiac rhythm disease management and spinal products businesses, two of the company’s largest and highest-margin segments.
The company, which recently changed its name to Holaira, employs about 20, roughly half of whom have joined since its move to Plymouth.
The recently released figure gives the first and only indication to date about how the Natick, Massachusetts-based company’s ongoing restructuring is affecting its local work force.
The financing round, led by the Malaysian government, will help Mardil Medical complete the development of its first product and pursue regulatory approval in Europe, Asia, and Canada.
Designs on your genes.
Mayo Clinic plans to invest $3.5 billion in improvements to its facilities, but a broader initiative calls for the investment of public and private funds in an effort to boost economic development in Rochester.
Greg Fluet, who has served as interim CEO since November, takes the helm at a time when the company’s stock is struggling to meet Nasdaq’s minimum bid price requirements.
Boston Scientific said Tuesday that its fourth-quarter earnings fell 44 percent—and that it will eliminate 900 to 1,000 positions this year in addition to previously announced cuts.
The Robbinsdale hospital, which has been experiencing a decline in the number of patients it treats, shed an undisclosed number of employees on Monday.
The company previously said it expected to receive such a letter from regulators following the inspection of a manufacturing facility in California.
The two plan to combine their respective databases of health insurance claims and clinical records in order to evaluate health procedures and find ways to improve them.
The “Breakthrough Health Challenge” seeks ideas about how common consumer technologies or devices can be used in new ways to help people address chronic conditions like diabetes, heart disease, and obesity.
The medical device giant said it would make improvements to its processes and address specific concerns raised during an inspection of its Sylmar, California facility.
Minnesota health care companies attracted $164.7 million in 2012, down 26.2 percent from 2011; still, the state received the second-highest funding amount among the region’s 11 states.