Fitbit raises $732M in the biggest ever consumer electronics IPO

By: Brian Dolan | Jun 18, 2015        

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Fitbit Surge

Fitbit Surge

This morning San Francisco-based Fitbit debuted its initial public offering on the New York Stock Exchange after increasing the price of its shares to $20 apiece: The IPO raised $732 million, making it the biggest consumer electronics IPO in history, according to Dealogica.

The stock began trading on the NYSE above $30 a share. According to CNBC, the average Fitbit insider, including its employees, owned shares valued at about $0.37 cents a pop.

Fitbit’s IPO beat out wearable camera company, GoPro’s big $427.2 million IPO from last summer, and even topped the former consumer electronics IPO record holder, Duracell, which pulled in $433 million from its 1991 IPO.

Most of the investment community is focused on how Apple’s recently launched Apple Watch, which features some of the same fitness tracking features as Fitbit’s devices, will impact the newly public company. Fitbit’s IPO debuted before Apple has announced any official Watch sales figures. While Apple’s higher priced wearable will compete with Fitbit on the high-end, recent analyst reports have also show that lower-priced wearable makers like China’s Xiaomi are already making considerable gains in worldwide wearable marketshare.  Keep reading>>


Teladoc’s new IPO plans shoot for $137 million

By: Aditi Pai | Jun 18, 2015        

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TeladocVideoVisitDallas, Texas-based video visits company Teladoc has updated its IPO filing, which now discloses that the company plans to raise $119 million in its IPO, if it is priced at the high end of its range. Teladoc will price its shares between $15 and $17. Its underwriters could raise up to an additional nearly $18 million, making for an IPO valued at as much as $136.9 million.

The company plans to sell 7 million shares, but they granted the underwriters an option, for a period of 30 days, to purchase up to an additional 1,050,000 shares of common stock.

After deducting estimated underwriting discounts and commissions as well as estimated offering expenses that Teladoc is paying, the company estimates that the net proceed from the sale of shares will be $100 million. This is based on an assumed initial public offering price of $16 per share, the midpoint of the price range.  Keep reading>>

FDA clears smartphone-connected pelvic floor muscle training device for incontinence

By: Aditi Pai | Jun 17, 2015        

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PeriCoachAustralia-based Analytica has received FDA 510(k) clearance for PeriCoach, its smartphone-connected device that helps women monitor their pelvic floor exercises. The goal of PeriCoach is to reduce or stop urinary incontinence. It will commercially launch in the US next week.

According to the company’s website, one in three women experience a bladder leak at some point in their lives. And although experts recommend pelvic floor muscle training exercises to help reduce leaking, Analytica said, “at least 50 percent of women do not correctly contract their pelvic floor muscles with verbal or written instructions alone”.

When inserted, the PeriCoach device will detect the strength of each muscle contraction and record each exercise session. The data from the device is sent via Bluetooth to a companion app, which analyzes the exercise data and offers the user a picture of how well she is doing her exercises over time. The app will also send exercise reminders and can send results to a clinician or pelvic health specialist.  Keep reading>>

Topol: Challenges around data hold up the democratization of medicine

By: Jonah Comstock | Jun 17, 2015        

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EricTopolDr. Eric Topol’s newest book is called “The Patient Will See You Now.” At BIO during his keynote talk, a whirlwind overview of the digital health space, Topol freely acknowledged that he wasn’t the first person to riff on that phrase.

“It takes 2.6 weeks to get an appointment with a primary care doctor on average. Since it’s hard to see a doctor is, what’s really interesting in contrast is that everyone else will see you now,” he said, pointing to a slide full of recent headlines. “The crowd will see you now, the patient will see you now, Dr. Google will see you now, the robot will see you now, the avatar will see you now. Everyone will see you now. Everyone but the doctor.”

Topol was highlighting two different intersecting trends — a doctor shortage and the availability of a number of different technologies that could stand in for a doctor visit in some circumstance, whether it’s telemedicine, a tricorder-like home health scanning device, home and consumer-facing lab technologies, or new services like Pager that send doctors to the user’s home in an Uber-like business model.

“There’s five different apps where you can get a doctor to come to your house to do a consult,” he said. “One of them’s called Heal and it’s backed by Lionel Ritchie. I wrote to him and said ‘Maybe you should have called it ‘All night long’. He said ‘No, it’s all day long too’.” Keep reading>>

NHS England susses out pervasive WiFi with eye on wearables in clinical settings

By: Aditi Pai | Jun 17, 2015        

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Tim KelseyNHS England and the National Information Board (NIB) have announced that they will consider equipping all NHS facilities in England with free WiFi.

The NIB was created by the Department of Health to develop initiatives that use data and technology in healthcare. It is chaired by NHS England National Director for Patients and Information Tim Kelsey.

NHS England explains that offering free WiFi in the health system’s facilities would reduce the administrative burden on doctors, nurses, and care staff. Administrative duties occupy, at most, 70 percent of a junior doctor’s day, NHS England explains.

Other benefits of the free WiFi, NHS explains, include using wearable devices in the hospital to monitor patients.

“For example, over a fifth of patients with diabetes will have experienced a largely avoidable hypoglycemic episode whilst in hospital,” NHS England wrote. “This technology can help patients and their doctors identify problems early.”  Keep reading>>

Mobile data collection’s role in precision medicine and the clinical trial of the future

By: Jonah Comstock | Jun 17, 2015        

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Craig Lipset

Pfizer Head of Clinical Innovation Craig Lipset

In 2011, Pfizer announced a novel clinical trial that would be fully remote, with every aspect of the trial being handled either online, over the phone, or by mail. But that trial was cancelled due to a failure to recruit enough participants, and a promised mulligan never emerged.

Craig Lipset, Pfizer’s Head of Clinical Innovation, said at the BIO conference in Philadelphia yesterday that since 2011, Pfizer has incorporated many successful facets of that trial into its ongoing efforts — and has put the failed aspects out there for other companies to learn from.

“For us, we took away a series of modules that worked and one that didn’t,” he said. “That’s not meant to imply that online medication recruitment is a failure. In this particular protocol going after that particular patient population it did fail for us, but the other components did work. So our priority has been to take those components that did work, whether it’s electronic consent or other components, and scale those up. Because we’ve got 200-some clinical trials ongoing every day of the week, so how can we leverage what did work?”

He said he’s been impressed with the other pharma companies that have made their own attempts at remote trials. Lipset didn’t name any specifically, but notably Sanofi announced a fully remote trial in February. Keep reading>>