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Smith+Nephew Launches FDA-Cleared CATALYSTEM Primary Hip System for Enhanced Precision in Hip Surgery, UK

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LONDON – Smith+Nephew (LSE:SN, NYSE:SNN), a global medical technology business, has announced that it received 510(k) clearance from the United States Food and Drug Administration for its CATALYSTEM Primary Hip System, designed to meet the evolving needs of primary hip surgery.

The approval, which focuses on the growing trend of anterior approach procedures and the increasing role of Ambulatory Surgery Centers (ASCs), marks a significant development in the field of orthopedics.

The CATALYSTEM system aims to accommodate a diverse range of patient anatomies and is expected to cater to a market segment growing at a compound annual growth rate of over 10%. It features a triple-taper stem design that promotes uniform proximal loading and reduced distal stem geometry, which is especially beneficial for less invasive anterior approach surgeries. This approach is associated with potentially improved range-of-motion and faster patient recovery.

Developed using global data sets across femoral morphologies, the CATALYSTEM system is engineered to offer a precision fit and includes Smith+Nephew’s proprietary ACCUBROACH Technology.

This technology is designed to ensure predictable and reproducible stem seating during surgery. The system also comes in a single modular tray, which may help reduce sterilization costs and increase efficiencies in the operating room, particularly in ASC settings.

The new system integrates with Smith+Nephew’s CORI Surgical System and is compatible with the company’s OXINIUM Technology. According to Craig Gaffin, President Global Orthopaedics at Smith+Nephew, the launch of the CATALYSTEM Primary Hip System complements their current hip portfolio and is engineered for precision and surgical efficiencies, aiming to enhance patient outcomes in hip surgery.

Smith+Nephew, with a history dating back to 1856, operates in more than 100 countries and generated annual sales of $5.5 billion in 2023. The company’s mission is to restore people’s bodies and self-belief through technology, which they refer to as ‘Life Unlimited.’

This news is based on a press release statement from Smith+Nephew. The company has not provided information about the availability of the CATALYSTEM Primary Hip System in markets outside the United States or the specific date when the system will be available for use.

In other recent news, SharkNinja has seen a series of favorable adjustments from financial firms. BofA Securities increased its price target for SharkNinja to $95.00, reaffirming its Buy rating. This change is attributed to SharkNinja’s successful product strategy, notably the Ninja FrostVault cooler and the Ninja Thirsti carbonating drink system, which are expected to expand the company’s presence in new markets.

UBS also raised its price target for SharkNinja to $83.50, maintaining a Buy rating. This change is based on the company’s strong financial performance and an increased earnings per share forecast for 2024 to 2026.

JPMorgan initiated coverage on SharkNinja with an Overweight rating and a price target of $70.00, highlighting the company’s potential for market share gains and geographic growth. Canaccord Genuity maintained its Buy rating on SharkNinja and increased the stock’s price target to $75.00, following positive customer feedback.

These recent developments reflect a positive outlook from the analyst community for SharkNinja.

As Smith+Nephew (LSE:SN, NYSE:SNN) gears up to enhance its position in the medical technology market with the FDA-cleared CATALYSTEM Primary Hip System, investors are closely watching the company’s financial health and market performance. According to real-time data from InvestingPro, Smith+Nephew is currently trading with a market capitalization of approximately $10.29 billion USD, reflecting the scale of its global operations.

The company’s financial metrics show a Price/Earnings (P/E) ratio of 58.23, suggesting that the market has high expectations for future earnings growth. Despite this, analysts have revised their earnings upwards for the upcoming period, indicating confidence in Smith+Nephew’s potential to grow its net income this year. This optimism is echoed by the company’s revenue growth of 18.65% over the last twelve months as of Q1 2024, a sign of robust financial health and expanding market reach.

InvestingPro Tips highlight that Smith+Nephew has also demonstrated a strong return over the last year, with a 78.02% one-year price total return as of the most recent data. This performance is underpinned by the company’s ability to maintain liquid assets that exceed its short-term obligations, providing financial flexibility and stability.

For investors seeking more detailed analysis and additional insights, there are over 13 InvestingPro Tips available on the company’s profile. These tips provide a deeper understanding of Smith+Nephew’s financial position and market potential. Interested readers can access these insights and benefit from a special offer using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription at InvestingPro.

DHS Offers $4B Funding for Biometric Tech Innovation in 2024 Seed Fund Tour, US

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The Department of Homeland Security (DHS) is providing a funding opportunity through its Small Business Innovation Research (SBIR) Program as part of the America’s Seed Fund initiative. This funding, totaling $4 billion, aims to support early-stage research and development projects by small businesses and entrepreneurs.

The America’s Seed Fund 2024 Road Tour will feature representatives from 11 federal agencies with SBIR/STTR programs, including the Department of Defense, the National Institute of Standards and Technology, and DHS, among others.

One of the advantages for entrepreneurs participating in this funding opportunity is access to substantial non-dilutive funding for early-stage R&D. This program also offers startups and innovators the opportunity to engage with the local and national federal ecosystem.

The SBIR and STTR programs are designed to foster private sector commercialization of technology across various domains, such as biometrics for access control systems, multi-factor authentications, and identity proofing and verification. SBIR grants from the DHS’ Science and Technology Directorate (S&T) address the needs of agencies like the Transport Security Administration (TSA), Customs and Border Protection (CBP) and Citizenship and Immigration Services (CIS), all of which use biometrics.

Both programs consist of three phases. Phase I involves concept development over 6 to 12 months, with funding ranging from $50,000 to $275,000. Biometric facial analysis developer Algoface recently received a Phase I SBIR grant and is now eligible to apply for Phase II funding.

Moreover, in order to enhance commercial feasibility, Phase II projects are eligible to attract additional funding from external investors. The cost-matching feature of Phase II ensures that SBIR funding is channeled towards projects with significant potential to result in new products that DHS and other organizations will procure.

The program has a rough equivalent in the EU, in the form of the Horizon Europe program. The program has allocated €190 million (around US$204.8 million) for initiatives centered on border security, privacy, and crisis management, among other areas. Biometrics providers including Thales and Vision-Box have received Horizon funding.

Morocco and Guinea-Bissau Strengthen Bilateral Ties with Economic, Education, and Regional Agreements in Laayoune

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Rabat – Morocco and Guinea-Bissau took a significant step towards strengthening their bilateral ties during a high-level meeting held in Laayoune this week.

The talks, led by Moroccan Foreign Minister Nasser Bourita and his Bissau-Guinean counterpart Carlos Pinto Pereira, concluded with the signing of several cooperation agreements to boost collaboration across various sectors.

Economic development and trade facilitation emerged as key priorities during the meeting. The two ministers signed a series of agreements designed to streamline trade procedures and unlock new opportunities for investment and collaboration.

These agreements include frameworks for mutual administrative assistance in customs matters, cooperation in road transport of passengers and goods, and the mutual recognition of driver’s licenses.

Both sides acknowledged the importance of fostering a vibrant economic relationship. They announced plans to host a business forum in the near future to connect Moroccan businesses with potential investment opportunities in Guinea-Bissau.

The talks also highlighted the strategic importance of the Bissau-Guinean consulate in Dakhla, Morocco. Guinea-Bissau opened the consulate in 2020, cementing its support for Morocco’s position on the Western Sahara.

Beyond economic considerations, the meeting emphasized the importance of educational exchange and youth development. The ministers signed a framework agreement to promote academic exchange programs and professional training opportunities.

The discussions also addressed pressing regional and international issues. Both ministers underscored their commitment to peaceful conflict resolution in Africa.

The meeting provided an opportunity for Guinea-Bissau to reaffirm its unwavering support for Morocco’s territorial integrity over the Sahara region. Pereira lauded the Moroccan Autonomy Initiative as a credible solution to the dispute.

The high-level meeting in Laayoune signifies a new chapter in Morocco-Guinea-Bissau relations. With a focus on economic cooperation, educational exchange, and regional collaboration, this strengthened partnership holds significant promise for a more prosperous and integrated future for both nations.

The agreements signed during the meeting provide a framework for collaboration in critical areas, while the commitment to peaceful conflict resolution and regional integration reflects a shared vision for a more stable and prosperous West Africa.

Dataminr Appoints Former Google and Cloudflare Exec as Chief Partner Officer for Global Growth

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Dataminr, one of the world’s leading AI companies, has appointed Matthew Harrell as its new Chief Partner Officer. With over 25 years of channel experience at companies like Cloudflare and Google, Harrell aims to expand Dataminr’s partner ecosystem and drive growth. This strategic move aligns with Dataminr’s dedication to innovation and meeting the increasing global demand for its AI products. Harrell’s background in leveraging partner channels to accelerate revenue growth positions him well to shape, grow, and innovate Dataminr’s robust partner ecosystem. His appointment comes at a pivotal moment for the company, following recent advancements in AI technology and a growing customer base that includes Fortune 50 companies and numerous government organizations globally. Through Harrell’s leadership, Dataminr aims to tap into new partner opportunities to bring emerging AI applications and solutions to the market. This move underscores Dataminr’s commitment to harnessing the power of AI for real-time information and risk management across various sectors.

Israeli Forces Seize Gaza Cancer Hospital for Military Use, Sparking International Outcry

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International outcry has followed the destruction of Gaza’s only cancer hospital, the Turkish-Palestinian Friendship Hospital, by Israeli forces who took it over to use as a military base. The incident has sparked global condemnation, with Turkiye’s Foreign Ministry vowing to seek justice in international courts. The destruction of the hospital and its transformation into a military base has been denounced as part of Israel’s systematic policy targeting the Palestinian people. The UN Relief and Works Agency (UNRWA) and the International Committee of the Red Cross (ICRC) have also strongly condemned the act, highlighting the extreme humanitarian crisis faced by the population in war-torn Gaza. Amid severe conditions, recent deadly attacks in Gaza have resulted in a rising death toll, with thousands injured and missing, as well as significant destruction that may lead to a much higher toll.

Kelowna Man Devastated by Wife’s Tragic Condo Fire Death, Canada

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A Kelowna man is left devastated after the loss of his wife in a condo fire along Bernard Avenue on Friday. David Grant Mack says his wife, Jen Heitsmann, died of smoke inhalation when a fire broke out just after 5:30 p.m. at 736 Bernard Avenue. Mack says he and his wife were visiting a friend in a different area of their condo building when a fire alarm started to ring. He says Heitsmann, 42, tried to go back up to their room to rescue the animals they had. It went off, and we thought it was just another false alarm. There are no fire extinguishers here at all. She just ran upstairs and ran right into the fire. I went upstairs and tried to get her out. She went back in for the squirrels that we rescued. The smoke inhalation killed her. She just ran right in there. I couldn’t get her out. She couldn’t see anything, he said. Mack says he and his wife had lived in the building on Bernard Avenue for nine years. A poster has been put up on a tree beside the building that says ‘RIP Jen, Kilo, Gram. We love you.’ Kilo and Gram were the two squirrels Mack says they had been keeping in the condo. Seventeen residents of the building were placed in the care of Emergency Support Services and are unable to move back in at this time. Mack and Heitsmann’s belongings remain sprawled out on the lawn next to the condo. Mack says he will be moving all the belongings into a friend’s garage for now and will spend the next few nights at a hotel. The cause of the fire remains under investigation.

Regulators Investigate Big Tech Digital Wallets Impact on UK Consumers

British regulators announced on Monday (15 July) that they were investigating competition and consumer protection concerns following the increased use of digital wallets offered by Big Tech companies.

A digital wallet, or mobile wallet, saves information from credit cards, debit cards, and other sources. Digital wallets allow users to make in-store payments quickly and easily, and anyone can use them at any merchant where digital payment is accepted.

The Financial Conduct Authority and Payments Systems Regulator said they will be looking into how digital wallets, including PayPal, Apple Pay and Google Pay, impact choice of payment and competition.

In a statement, the regulators claimed that digital wallets are now likely used by over half of UK adults and have become an increasingly important touchpoint between Big Tech companies and UK consumers.

David Geale, the Payment System Regulator’s managing director, said digital wallets are steadily becoming a go-to payment type and while this presents exciting opportunities, there might be risks too.

The move comes after the US consumer watchdog faced an industry backlash earlier last year for calling for the supervision of companies offering payments and digital wallets. The Consumer Financial Protection Bureau said Big Tech’s digital wallets lacked the same consumer safeguards as traditional payment methods.

The lobby group representing Meta, Amazon, and X responded to the plan, stating that supervision could stifle innovation.

The use of mobile wallets increased as the Covid-19 pandemic resulted in greater acceptance of digital payments. In 2021, the global market value of mobile wallets was $55bn, an annual increase of 28.3%, according to research and analysis company GlobalData.

FIS’s Global Payments Report 2023 found digital wallet payments in the UK increased in-store as well as online, accounting for 10% of payments in 2022 and will account for a 21% market share by 2026.

GlobalData estimates the trend for increased mobile wallet payments will continue globally, significantly outpacing card payments by 2026.

Based on GlobalData’s Mobile Wallet Analytics, digital wallet use is most common in developing markets, with China alone making up 71% of all mobile wallet transactions by value across the world.

Leading Training Software doinstruct Secures €7.6M Funding for Frontline Workers Onboarding & Training, Germany

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doinstruct, a leading training software for frontline workers, announced that it has secured €7.6 million in a funding round led by Creandum to address the challenge of millions of people starting a new job every year in key industries with inadequate onboarding and training.

The German startup has built a mobile-first onboarding and training platform with the real needs of deskless workers front of mind. There is no app to download, no password to remember and no email required. All of the training content is continually updated in partnership with regulators and certifiers and currently available in more than 16 languages.

For employers, the platform provides unlimited usage of training packages and a high degree of automation, allowing them to set their training on ‘autopilot’ so it automatically repeats where needed for continuous learning. They can also record and upload their own content. A dashboard allows them to easily track and report training compliance. On average, doinstruct’s customers reach an adoption rate of >90% in the first month, have saved 4.6 hours of productive work per employee and reduced training costs by ~43%.

doinstruct was founded in 2021 and is led by Charlotte Rothert, Daniel Marinkovic, Thorsten Groß, and Mona Feder. The company has seen significant traction in food, logistics and construction with more than 170 customers including well-known European brands such as Voelkel, Wiesenhof, Hengstenberg and Echterhoff, among others. doinstruct will use the funding to scale the product at a faster pace, expand internationally and enter new vertical sectors.

Charlotte Rothert, CEO and Co-founder at doinstruct, said: Our customers are facing a rising number of challenges. They are affected by increasingly tough regulatory requirements and labor shortages. Shift workers are difficult to reach, language barriers make compliant training and information delivery nearly impossible, and inevitable employee turnover requires ongoing, time-consuming retraining. I know we can do better. And it’s obvious that workers and industrial companies deserve better.

According to a study earlier this year, three-quarters of employers in 21 European countries could not find workers equipped with the right skills in 2023. Historically low unemployment rates coupled with declining birth rates is creating a jobs gap with immigration key to filling this gap in critical and highly regulated sectors such as food processing.

To date, frontline workers have been largely underserved by technology, trained mostly in a non-native language, in-person or using e-learning solutions not developed with the needs of these workers in mind. This is expensive for employers and makes compliance often hard to track which can have serious consequences in industries such as food processing where hygiene standards are critical, or in dangerous work environments.

Political Violence on the Rise in America: Trump’s Assassination Attempt Shakes the Nation, US

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In America, we resolve our differences at the ballot box … not with bullets. The power to change America should always rest in the hands of the people, not in the hands of a would-be assassin.

So said the US president, Joe Biden, in an Oval Office address to the nation the day after the attempted assassination of his rival in November’s presidential election.

The shockwaves of Trump surviving an effort to kill him at a campaign event in Pennsylvania on July 13 are still being felt across the United States and around the world. The FBI stated it has picked up on increasing levels of violent political rhetoric being expressed in the aftermath of the assassination attempt.

And, contrary to Biden’s insistence that there is no place in America for this kind of violence, Katie Stallard, a non-resident global fellow at the Wilson Centre in Washington DC, believes that: The attack on Donald Trump was shocking, but it wasn’t unprecedented by American standards, and it wasn’t entirely unforeseeable. The Trump assassination attempt follows a disturbing trend in America of extremists embarking on violent plots to silence their perceived opponents.

Researchers Professor Pete Simi of Chapman University, and Seamus Hughes, University of Nebraska, have examined threats against political candidates between 2013 and 2023. They found that over the past 10 years, more than 500 individuals have been arrested for threatening public officials. And the trendline is shooting up. Over the past three years alone, America has witnessed a surge in violence linked to a darkening political landscape that has seen combative and toxic discourse infect its body politic.

The Capitol riots in January 2021 were preceded by a speech from the then president, Donald Trump, where he told an assembled crowd the November 2020 presidential election had been stolen. Following this address, thousands of the president’s supporters marched on the Capitol building.

The ensuing mayhem resulted in a violent riot and the deaths of five people, including a police officer.

In October 2022, Paul Pelosi, the husband of the then House speaker, Nancy Pelosi, was attacked in his home and bludgeoned with a hammer by far-right conspiracy theorist David DePape. DePape’s plan was to find Pelosi herself, hold her hostage, and break her kneecaps. Donald Trump would later mock Mr. Pelosi at a Republican campaign event.

In September 2023, Trump sparked fury with a social media post criticizing former chairman of the Joint Chiefs, Mark Milley. On Truth Social the former president, angered by revelations that Milley had taken a phone call with Chinese officials after the January 6, 2021 riots, wrote: This is an act so egregious that, in times gone by, the punishment would have been DEATH!

Polling conducted by Professor Robert A. Pape from the University of Chicago sheds new light on the worrying positions some Americans have towards the utility of political violence. This survey of over 2,000 people found that 10% of respondents viewed the use of force as justified to prevent Donald Trump from becoming president. This equates to 26 million adults if the findings are applied to the whole population.

Within this mix of increasingly dangerous political rhetoric and violence is America’s guns epidemic. According to the FBI, the weapon used by the would-be assassin at the Trump campaign rally, Thomas Matthew Crooks, was an AR-style rifle purchased by his father.

Pape’s survey also found that 7% of respondents supported the use of force to restore Donald Trump to the presidency. Of this group, which equates to 18 million adults, around 45% own guns, 40% think the people involved in the Capitol attack were patriots, while 10% were either militia members or knew someone who was a militia member.

The reaction to the Trump assassination attempt by some of his most prominent congressional supporters has bordered on the reckless. Ohio Senator J.D. Vance – a potential vice presidential nominee – stated that Joe Biden bore responsibility for the attack. He asserted that the president’s campaign speeches had led directly to what transpired in Pennsylvania.

Other GOP elected officials have gone further with wild and dangerous rhetoric. Georgia congressman Mike Collins posted on X that Joe Biden sent the orders and called for the Republican district attorney in Butler County, where the assassination attempt took place, to immediately file charges against Joseph R. Biden for inciting an assassination.

There is heightened concern as the summer of political conventions by both Republican and Democratic parties get underway. Jacob Ware, a research fellow at the Council on Foreign Relations, has stated that these large gatherings boast the largest collections of party members and leaders throughout the entire election cycle and could therefore attract individuals or groups with a vendetta.

Many across the United States, and beyond its shores, will hope the Trump assassination attempt will lead to tempered introspection and reasoned political debate. But others justifiably fear the event could serve as a catalyst for deeper polarisation and further acts of violence. (The Conversation) AMS

Singapore and US Sign Data, Analytics, and AI Cooperation Pact

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Singapore’s Defence Ministry (Mindef) and the US Defence Department have signed a statement of intent (SOI) on Data, Analytics and Artificial Intelligence (AI) cooperation.

The SOI facilitates technological collaboration, enabling both defence establishments to discuss approaches and exchange best practices on leveraging data, analytics, and AI at speed and scale.

The US Defence Department in a statement on Monday said that under the SOI, the US and Singapore have identified key areas of collaboration such as quality data, the responsible development and use of AI, and talent management.