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☆ Amazon CEO Andy Jassy says his letter to shareholders follows one of the toughest economic years in recent memory. Read it in full.
  + stars: | 2023-04-13 | by ( Sam Tabahriti | ) www.businessinsider.com   time to read: +38 min
Further, as machine learning adoption has continued to accelerate, customers have yearned for lower-cost GPUs (the chips most commonly used for machine learning). While some areas of the economy have struggled over the past few years, Amazon Business has thrived. Some people have never heard of Amazon Business, but, our business customers love it. For years, Amazon customers had asked us when we'd offer them an online pharmacy as their frustrations mounted with current providers. More recently, a newer form of machine learning, called Generative AI, has burst onto the scene and promises to significantly accelerate machine learning adoption.
☆ Amazon closes deal to buy primary care provider One Medical
  + stars: | 2023-02-22 | by ( Annie Palmer | ) www.cnbc.com   time to read: +3 min
Amazon on Wednesday said it had closed its $3.9 billion deal for primary care provider One Medical. Amazon agreed last July to acquire One Medical to deepen its presence in health care, and "dramatically improve" the experience of getting medical care. The deal gives Amazon access to One Medical's more than 200 brick-and-mortar medical offices in 26 markets, and roughly 815,000 members. In a statement, he said health care is ripe for disruption, citing long appointment times and the complexities of primary care. "Together, we believe we can make the health care experience easier, faster, more personal, and more convenient for everyone."
☆ Globus Medical's $3 bln deal for NuVasive to fortify spinal business spooks investors
  + stars: | 2023-02-09 | by ( Raghav Mahobe | ) www.reuters.com   time to read: +2 min
Feb 9 (Reuters) - Globus Medical Inc (GMED.N) said on Thursday it would acquire peer NuVasive Inc (NUVA.O) in an all-stock deal valued at about $3 billion to build scale in the competitive market for spinal devices. NuVasive shareholders will receive 0.75 of Globus shares, implying a per-share offer of $57.72 and a premium of about 26% to Wednesday's close. Shares of Globus Medical fell more than 17%, with analysts raising concerns around deals in spinal device space. "We both have very rich product portfolios to still develop," said Globus Medical Chief Executive Officer Daniel Scavilla. NuVasive shareholders will own about 28% of the combined company, while Globus shareholders will own the rest.
☆ FDA warns Japan's Olympus units over testing violations
  + stars: | 2023-01-10 | by ( ) www.reuters.com   time to read: +1 min
Jan 10 (Reuters) - The U.S. Food and Drug Administration on Monday said it has issued warning letters to manufacturers of medical scopes used in surgical procedures, citing violations found during inspections of facilities in Japan. Warning letters pertain to a category of devices known as endoscopes, which allow doctors to see and access the urinary tract, gastrointestinal tract, and respiratory tract, during diagnostic and therapeutic procedures. The health regulator released the letters on Monday, which were sent to units of Japan's Olympus Corp (7733.T) - Olympus Medical System Corp and Aizu Olympus Co -in December and November, respectively. The agency added that Olympus Medical did not develop medical device reporting procedures as mandated and did not submit them to the regulator in the required timeframes. These warning letters add to a history of the U.S. FDA's compliance actions against Olympus related to testing and manufacturing requirements.
☆ Amazon has only gotten started with its ambitions to be a serious player in healthcare. Here are 3 acquisitions it could make next year.
  + stars: | 2022-12-20 | by ( Rebecca Torrence | ) www.businessinsider.com   time to read: +7 min
The next month, it abruptly announced it would shut down Amazon Care, its app-based primary-care service for employers, three years after launch. In November, Amazon launched Amazon Clinic, a virtual service where patients can pay Amazon directly to get treatment for common conditions like allergies and acne. Natalie Schibell, a vice president and research director at Forrester, said that was a sign Amazon had learned from its mistakes at Amazon Care. When Amazon shuttered Amazon Care, it put those mental-health ambitions on hold. Lennox-Miller said Amazon could buy health data startups the company had already invested in, like the health-equity-focused Harmony Health or the value-based-care data company Clinify Health.
☆ U.S. FDA warns of tracheostomy tube shortage
  + stars: | 2022-10-31 | by ( ) www.reuters.com   time to read: 1 min
Oct 31 (Reuters) - U.S. Food and Drug Administration (FDA) said on Monday there was a shortage of tracheostomy tubes, a surgical device that helps patients to breathe, including those manufactured by ICU Medical (ICUI.O). The agency said the shortage was due to difficulties in raw material procurement and would most likely impact pediatric patients. They will be affected by the limited supply of tubes with similar functionality as ICU Medical's Bivona, that are made from flexible silicone and easier to use in children. The health regulator has recommended reusing tracheostomy tubes after following proper sanitary procedures in order to deal with the current shortage. Reporting by Khushi Mandowara; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
☆ Inside Amazon's deal machine: How the tech giant acquires companies, who's in charge, and what makes it want to buy 'right now'
  + stars: | 2022-10-11 | by ( Eugene Kim | Stephanie Palazzolo | Reed Alexander | ) www.businessinsider.com   time to read: +14 min
Buying other companies is one option to help maintain its historical 20%-plus annual revenue growth, a person familiar with Amazon's deal process said. While Amazon doesn't necessarily prey on companies in trouble, the company is extremely price disciplined, the person familiar with Amazon's deal process told Insider. Bertucci has been a part of some of Amazon's largest transactions, including leading the MGM and One Medical deals. According to the person familiar with Amazon's deal process, Amazon only brings in investment banks when acquisitions reach roughly the $1 billion mark. Indeed, the One Medical deal alone could have netted Goldman and Morgan Stanley, which repped One Medical, in the tens of millions in fees.
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