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Over the last year, Katie dove into the science and business of continuous glucose monitors. For a comprehensive look at what’s ahead for the devices — not just for diabetes patients, but the broader public — grab a copy of our new STAT Report.

Biosensors at three-letter conferences

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Speaking of CGM, device maker Dexcom’s presentation at this week’s all-virtual JP Morgan Healthcare Conference finally showed forward movement on its next-generation continuous glucose monitor, the G7. The company filed with the FDA in late 2021, and shared data from its submission at JPM, including results showing that the device meets the standards to feed its data into automated insulin pumps. “Our current systems have been designed to readily connect with the automated insulin delivery developments that are going to be coming out over the next several years,” said CEO Kevin Sayer. “I would even go so far as to say sharing data may be one of the most significant innovations this company has done over its history.”

The news comes as Dexcom’s primary competitor Abbott made a bold announcement last week at CES: The company will launch a new line of disposable direct-to-consumer biosensors dubbed Lingo. The first device will measure ketones, targeting fans of the faddish keto diet, although observers suggest such sensing could be an attractive addition for patients who diligently track their numbers to avoid diabetic ketoacidosis. The company also plans consumer glucose and lactate biosensors, aimed at helping people optimize nutrition and exercise. As glucose monitoring companies aim to scoop up an increasingly broad user base, Dexcom may have to decide whether it will focus on making the best possible product for people with diabetes, or reaching the biggest possible market by bringing in a new generation of sensor-happy users.

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In other news at JPM…

  • Teladoc nudged revenue projections for the 2021 fiscal year up slightly to $2.03 billion, as CEO Jason Gorevic doubled down on the company’s vision for “whole person care”: virtually treating patients’ mental, physical, chronic and complex needs and connecting them to brick-and-mortar services when needed.
  • Executives with Oak Street Health, a provider of virtual and in-person primary care to Medicare patients, said they will open the throttle on their expansion plans in 2022, adding 70 new health centers. That would give the company a total of 200 clinics nationwide, in addition to a virtual specialty consultation business it added through the acquisition of RubiconMD.  The company is also facing some headwinds, however, including a Department of Justice inquiry into whether it violated the False Claims Act related to third-party marketing activities.

Coming up today at JPM: Value-based care software company Aledade is expected to announce its first acquisition at JPM Tuesday: Iris Healthcare, which sells support for advanced care planning. Aledade was founded by Farzad Mostashari, the top federal health IT official under President Barack Obama.

23andMe’s cancer play

Last week, 23andMe began clinical trials of its first wholly-owned drug, a cancer immunotherapy — a significant turning point for a company trying to grow into drug development from its roots in consumer genetic testing. It’s the second cancer drug the company has advanced into human trials, following an immunotherapy developed in partnership with GSK. But while 23andMe dives headlong into pharma timelines, there’s still room for more on the consumer side: On Monday, the company announced it has received FDA clearance for its third DTC genetic test, for a hereditary prostate cancer marker. It’s the longest of long plays, but it’ll be interesting to see if the company can successfully sell prevention and treatment at the same time, for the same disease.

One small step for data standards…

The Office of the National Coordinator has released a technical specification for recording patient addresses in digital records. It sounds like a small thing, but formatting differences frequently result in an inability to accurately identify patients and track their records. The new specification, dubbed Project [email protected], will help advance interoperability across health care IT systems and help organizations link patient records held by different providers and insurers, so long as they all adopt the standards. Speaking of standards, ONC has also released its revised interoperability guide.

M&A is heating up

  • Withings is acquiring Impeto Medical, the maker of a technology to detect small fiber neuropathy related to chemo as well as diseases such as diabetes and Parkinson’s. Withings plans to incorporate the technology into its at-home body scan device to detect common conditions.
  • R1 RCM, a maker of technology to improve provider financial performance, is acquiring the Atlanta-based revenue-cycle company Cloudmed in an all-stock transaction. The deal values Cloudmed at $4.1 billion.
  • The voice assistant company Speak2Family is acquiring rival SoundMind for an undisclosed sum. Both companies use voice assistants to help seniors with daily routines.
  • LG is equipping all its 2021 and 2022 smart TVs with a telehealth app from the senior-focused platform Independa. The app will allow customers to schedule and conduct telehealth appointments through their TVs.
  • The in-home care company Medically Home raised $110 million in new funding from Baxter InternationalGlobal Medical Response and Cardinal Health. Its existing provider partners, Mayo Clinic and Kaiser Permanente, also kicked in more money.
  • Little Otter, a digital mental health provider for children and families, raised $22 million in a Series A round led by CRV. The company will use the funding to expand beyond existing availability in California, Colorado, North Carolina, and Florida.

What we’re reading

Source: https://www.statnews.com/2022/01/11/health-tech-jpm-acquisitions/