Recent content from Victor Stefanescu
New Solventum layoff details emerge, including 110 Minnesota job cuts
The restructuring of Minnesota's newest large public company announced in December will result in $120 million in annual savings.
UnitedHealth's Optum to address pricing, access challenges for prescription drugs
The changes come as pharmacy benefit managers face scrutiny for how they require doctors and patients to seek its approval for certain treatments and drugs.
Medtronic recalls aneurysm-treating device linked to four deaths
The FDA recall affects more than 25,000 of the Fridley-run company's devices and follows reports of 17 injuries.
Klobuchar, Smith advocate for turkey farmers amid bird flu outbreak
At Willmar-area roundtable, the senators heard farmers' calls for revisions in biosecurity audits and said government needs to consider more funding for farmers.
What Minnesotans need to know about bird flu risks
H5N1 is still wrecking farms, prompting surging grocery store prices and posing public health uncertainty three years after the state's first poultry cases.
Inside the slow rise and sudden death of Medtronic's lifesaving ventilators
Medtronic's Puritan Bennett devices were some of the world's most important in 2020, but profits dipped as clinical preferences shifted. Experts disagree on what their extinction means for the future.
How Boston Scientific (sort of) became 'Minnesota Scientific'
The company bearing Boston's name has approximately 10,000 employees in Minnesota, doubling in the past 15 years. And it's not done growing.
Facing tariffs and a big sale, Solventum sees profits slide
Despite lower quarterly profits, CEO says sales volume growth is a promising sign for the young company.
Solventum sells purification business for $4.1B to pay down debt
Spun off from 3M last year with billions in debt, Solventum is facing layoffs and declining earnings.
In Parkinson's fight, Medtronic's first-in-the-world adaptive therapy feature wins FDA approval
The technology builds decades of research and trials for the Fridley-run company.
At high-tech Medtronic, humble staplers put company in bind as stock tumbles on earnings
The staples distributor issue added to a mixed quarterly report for Medtronic, which is run out of Fridley.
Minnesota-invented patch for premature ejaculation gains FDA clearance
Maple Grove-based Morari Medical's device "MOR" is a drug- and chemical-free approach for the common men's sexual health concern and will be available to consumers this year.
DOJ investigating Golden Valley-based Inspire's marketing of sleep apnea device
The promotion and reimbursement practices for the medtech company's implantable CPAP alternative are under scrutiny.
Case equipment maker CNH cutting 175 jobs at its central Minnesota plant
The plant in Benson, which employed over 300 people in 2017, makes agricultural equipment.
Pharma company Upsher-Smith to close Plymouth facility, lay off at least 58 workers
The generic drug maker and contract manufacturer, once owned by local billionaire family, was sold amid a family legal squabble in the 2010s.
Boston Scientific remains bullish despite tariffs, with sales buoyed by Minnesota tech
The medtech company with roughly 10,000 Minnesota employees reported annual revenue exceeding $16 billion.
Fearing impact on jobs and R&D, medtech group calls for tariff exemptions
The top medtech trade organization calls for medical device exemptions. Medtronic is ready to "develop mitigation strategies if necessary."
Inside the lab that's the beating heart of Medtronic's product pipeline
At the University of Minnesota, researchers keep hearts alive outside the body for hours. Medtronic uses them to develop blockbuster devices.
Amid recalls, Minnesota medtech exec says she was pressured to disregard safety law
Susan Krause of Rosemount alleges New Jersey-based Integra LifeSciences pressured her to lie to regulators. Integra says "salacious" allegations aren't true.
Minnesota baby battled a deadly tumor bigger than his head — with VR's help
A tumor invaded 80% of Jayden's chest. His Twin Cities family grieved. His doctors put on a Meta headset.
Looking for better margins, Medtronic names new chief financial officer
Thierry Piéton, an alum of GE and French automaker Renault Group, will receive a $3 million bonus to oversee the finances of the medtech giant.
Medtronic stock rises as Medicare says it may cover hypertension procedure
Medicare may begin to cover renal denervation with Medtronic's Symplicity device by October, which could drive coverage among private insurers
New FDA rules to cut racial bias in some, but not all, devices to measure oxygen in the blood
Pulse oximeters helped drive racial inequities in care during the pandemic, but many devices at drugstores and online won't be subject to the guidelines.
FDA recommends more robust testing of pulse oximeters to avoid bias in people with dark skin tone
New draft guidelines would increase the number of people with darker skin who should be included in clinical trials of the devices.
Minnesota H-1B workers nearly double in decade as businesses rely on visas more than ever
Mayo Clinic received the most H-1B visas among employers in the state in fiscal 2024, followed by the University of Minnesota.
Minneapolis-based SPS Commerce makes second $200M acquisition in six months
The retail supply chain software company has purchased Carbon6 Technologies and Supply Pike, which work with Amazon and Walmart, respectively.
Boston Scientific catheters treating AFib with extreme cooling linked to 4 deaths: FDA alert
Devices already in inventory can be used with the updated instructions by doctors. Patients already treated don't need to do anything.
Boludo to pay $106K for labor violations across four Minneapolis restaurants
The U.S. Department of Labor found the Argentine pizza and empanada restaurant committed several violations across its four locations, including depriving workers of overtime pay and tips, illegally firing an employee and allowing a 15-year-old to work beyond permitted hours.
Boston Scientific pacemakers linked to two deaths subject of FDA safety alert
Boston Scientific said about 13% of devices from its Accolade family of pacemakers built before September 2018 have potential to malfunction.
Ending Minnesota's IPO drought, medtech company Anteris raises $88 million in NASDAQ listing
Anteris Technologies, which is creating a new kind of transcatheter heart valve for aortic stenosis, aims to compete with medtech giants like Medtronic.
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Explore your options to keep costs in focus when buying new glasses
Take your prescription and shop around at the many optical retailers to find a pair of glasses that suits you and your budget.
McKesson to lay off more than 80 Minn. employees, close Rogers facility
The massive pharmaceuticals distributor said it is offering employees severance. It plans to begin layoffs on March 3.
Hearing issues are pervasive for veterans. A Minnesota-created test makes care easier.
AMTAS is growing in the VA system and oversees, while adoption in private health care settings in the U.S. is slow.
FAQ: Everything you need to know about Minnesota-based UnitedHealthcare
UnitedHealthcare, the nation's largest insurer, is owned by parent company UnitedHealth Group. UnitedHealthcare CEO Brian Thompson was fatally shot Wednesday.
Solventum, Minnesota's newest public company, laying off employees
The 3M health care spinoff has not disclosed how many of its 22,000 employees are affected.
Inside the procedure at the heart of a multibillion-dollar race to a safer AFib treatment
Medtronic, Boston Scientific and other medtech leaders are competing to commercialize catheter technology with roots in Minnesota that's making atrial fibrillation treatment safer.
Minnesota business leaders say Trump's proposed tariffs would result in higher prices for consumers
Canada, Mexico and China are Minnesota's biggest trading partners, and the tariffs could disrupt companies from 3M and Cargill to Target and Polaris.
In the doghouse: Bullseye mascot provider says Target owes $740K for breaching contract
A California company is claiming that the Minneapolis-based retailer did not cancel an auto-renewing contract for the use of its Bullseye English bullterrier dogs, in time.
Missed insulin doses cause complications. A new Medtronic app can detect when patients forget a dose.
The InPen app paves the way for the launch of the company's "Smart MDI" system combining a smart insulin pen that tracks doses and a monitor that makes real-time glucose readings for people who make multiple daily injections.
Medtronic races for market share in fast-growing treatment of irregular heartbeats
With supplier issue now resolved, the Minnesota-run medtech company expects to "reach and then exceed" market growth in the fast-growing sector for "pulsed field" atrial fibrillation treatments.
Recombinetics, which engineered hornless dairy bulls, files for bankruptcy
The Eagan-based company that edits animal genes faces $7.7 million in total liabilities.
Apple headphones can work as hearing aids. Minnesota-based Starkey says it welcomes competition.
Starkey CEO says the patient wins when there's more competition. "I like competition because that makes you better," CEO Brandon Sawalich says.
3M spinoff Solventum 'off to a solid start' but needs stronger growth
Solventum, Minnesota's newest major public company, raised its guidance Thursday and reported $2.08 billion in sales.
Second Trump presidency raises big questions for Minnesota health care
Observers say Trump administration may make changes to the Affordable Care Act, while Kennedy will seek government data on vaccine safety and other topics.
Chaska's Lifecore looks to growth in coming years after emerging from delisting challenge
The publicly traded biotech company's new CEO, Paul Josephs, said a new isolated filler can double revenue.
Minn. startup HistoSonics awarded $90 million for tumor-fighting tech at VA
The Plymouth-based company's novel ultrasound system destroys and liquefies liver tumors.
Native of St. Paul's Rondo neighborhood used NASA tech to revive shuttered company
Simpli-Fi Automation, the company Christopher Campbell founded, licensed federal innovations intended for space exploration and deployed them in the health care realm, developing products that use breath analysis to detect diseases.
3M spinoff Solventum considers selling filtration business: report
The company reported the business generated $238 million in the most recent financial quarter.
Boston Scientific lifts sales outlook, notes key approval of AFib device with Minnesota ties
The med-tech company with approximately 9,400 employees in Minnesota posted profit and sales that beat Wall Street's expectations.
Medtronic MiniMed insulin pumps recalled over shorter-than-expected battery life
Patients urged to carry extra batteries as Medtronic recall affects 24,595 insulin pumps that may stop delivering insulin sooner than expected.
American Heart Association recognizes Twin Cities startups using AI to improve health equity
CorRen is focusing on peripheral artery disease detection, while Gumbo aims to break down language barriers in health care.
Abbott Labs sales boosted by double-digit medical devices growth
The CEO at the Illinois-based company with operations in Minnesota expects earning to return to a pre-pandemic profit model despite less demand for COVID-19 tests.
