Afleveringen
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What is Prompt Engineering?
* Crafting effective prompts to guide Large Language Models (LLMs) toward accurate, useful outputs.
* It's iterative: experimenting, evaluating, and refining prompts is crucial.
Key Elements of Effective Prompt Engineering
1. LLM Output Configuration
Configure the model settings effectively:
* Output Length: More tokens = higher cost and latency.
* Temperature: Controls randomness.
* Lower temperatures (0.0 - 0.3) â More deterministic and focused results.
* Higher temperatures (>0.7) â More creative and varied outputs.
* Top-K: Limits sampling to the K highest-probability tokens.
* Top-P (nucleus sampling): Samples from top tokens until cumulative probability P is reached.
Recommended default configurations:
* Balanced results: Temperature 0.2, top-P 0.95, top-K 30.
* More creative: Temperature 0.9, top-P 0.99, top-K 40.
* Deterministic results: Temperature 0.0 (useful for math problems).
2. Prompting Techniques
Zero-shot Prompting
* Provide simple instructions without examples.
* Good for straightforward tasks.
One-shot & Few-shot Prompting
* Include one or more examples within the prompt.
* Enhances accuracy and consistency, particularly useful for complex or structured tasks.
System, Contextual, and Role Prompting
* System prompting: Defines the overall task context and constraints (e.g., format outputs as JSON).
* Contextual prompting: Offers additional context for precise results.
* Role prompting: Assigns the model a persona or role (teacher, comedian, travel guide, etc.), shaping its tone and content.
Step-back Prompting
* Start broadly, then narrow down specifics to enhance contextual accuracy.
* Helps models reason effectively.
Chain of Thought (CoT) Prompting
* Encourages LLMs to explain reasoning steps explicitly (e.g., math problems).
* Significantly improves accuracy and interpretability.
Self-consistency
* Run the same prompt multiple times at higher temperatures, then choose the most common response.
* Good for reasoning and classification tasks.
Tree of Thoughts (ToT)
* Extends CoT by simultaneously exploring multiple reasoning paths.
* Effective for complex tasks needing deep exploration.
ReAct (Reason & Act)
* Combines reasoning with external tool usage (like search engines) for better problem-solving.
* Useful for factual queries requiring external validation or data.
3. Automatic Prompt Engineering
* Automating prompt creation by prompting an LLM to generate multiple potential prompts.
* Evaluate and select the best-performing prompt using metrics like BLEU or ROUGE scores.
4. Code Prompting Techniques
* LLMs can write, explain, translate, debug, and review code.
* Clearly instruct models on desired programming languages and outcomes.
* Test and verify the generated code for correctness.
5. Multimodal Prompting
* Involves using multiple formats (text, images, audio) in prompts.
* Enhances clarity and context (dependent on model capabilities).
Best Practices for Prompt Engineering
General Tips
* Provide clear, concise instructions.
* Include relevant examples: One-shot or few-shot examples dramatically improve performance.
* Design simple prompts: Avoid overly complex language or irrelevant information.
* Be specific about outputs: Clearly state expected results (structure, format, content).
* Favor positive instructions over negative constraints.
Controlling Output
* Explicitly instruct output length or style when necessary (e.g., "Explain quantum physics in a tweet-length message").
Variables in Prompts
* Use dynamic variables to easily adapt prompts (e.g., {city} â "Amsterdam").
Input and Output Formats
* JSON is recommended for structured outputs to minimize hallucinations and increase reliability.
* JSON Schemas can help structure inputs, defining clear expectations for LLMs.
Iterative Development
* Continuously test, refine, and document prompts.
* Record prompt versions, configurations, model outputs, and feedback for reference and improvement.
Chain of Thought Specific Tips
* Always put the reasoning steps before the final answer.
* Set temperature to 0 for reasoning-based tasks to ensure deterministic responses.
Prompt Documentation
Use this structured format to document prompt attempts for easy management and future reference:
FieldDetails to includeNamePrompt name/versionGoalSingle-sentence description of the promptâs purposeModelModel name/versionTemperatureValue (0.0 - 1.0)Token LimitNumeric limitTop-KNumeric settingTop-PNumeric settingPromptFull text of the promptOutputGenerated output(s)
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CooperSurgical: A Timeline of Events
1958: Parker Montgomery founds Cooper Laboratories in California, marking the early roots of what will eventually become CooperSurgical. Over the following decades, Montgomery pursues aggressive acquisitions to build a healthcare conglomerate.
Early 1980s: Cooper Laboratories becomes overextended financially due to rapid expansion.
Late 1980s: Parker Montgomery is ousted from Cooper Laboratories following divestitures.
1990: CooperSurgical is officially formed as a distinct business unit of The Cooper Companies. CooperSurgical acquires Frigitronics, a Connecticut-based maker of cryosurgery devices for gynaecology, providing immediate entry into the women's healthcare market.
1991: Thomas Bender joins The Cooper Companies as chief operating officer and begins a turnaround strategy, focusing the company on medical devices. CooperSurgical purchases Euro-Med, a direct-mail order business supplying gynaecology instruments to physicians, expanding its reach and product offering.
1992: CooperSurgical introduces its own line of electrosurgical instruments and disposable loops for LEEP (Loop Electrosurgical Excision Procedure), enabling in-office diagnosis and treatment of precancerous cervical lesions.
1994: Thomas Bender becomes CEO of The Cooper Companies, continuing the focus on core medical device businesses, including CooperSurgical.
1996: CooperSurgical acquires Unimar, Inc., a company with disposable gynaecologic diagnostic products, broadening its range of essential everyday tools for OB/GYN practices.
1997: CooperSurgical acquires Marlow Surgical Technologies, gaining exclusive US distribution of an embryo transfer catheter, the WallaceÂŽ, marking its entry into the fertility field.
1998: CooperSurgical introduces Cerveillance, a digital imaging system for gynaecologists to document and track cervical examinations.
1999: CooperSurgical purchases the women's healthcare assets of BEI Medical Systems, Inc., including technologies for endometrial ablation and operative hysteroscopy, expanding its therapeutic offerings for uterine health.
2004: CooperSurgical acquires Milex Products, Inc., a manufacturer of disposable and consumable OB/GYN products like pessaries and diaphragms, significantly expanding its consumables portfolio and expecting to surpass $100 million in revenue.
November 2005: CooperSurgical acquires Inlet Medical, Inc., specialising in laparoscopic surgery devices, including trocar closure systems and kits for pelvic floor disorders.
November 2005: CooperSurgical also acquires NeoSurg Technologies, Inc., which developed a patented reusable/disposable trocar system for laparoscopic access.
2006: CooperSurgical acquires Lone Star Medical Products, Inc., known for its Lone StarÂŽ retractor system used in various surgical procedures, including OB/GYN.
2010: CooperSurgical acquires Summit Doppler Systems, a company that made fetal Doppler monitors and vascular Doppler systems, entering the prenatal care diagnostics market.
2012: The Cooper Companies completes the acquisition of Origio A/S, a leading global IVF medical device and media company based in Denmark, marking CooperSurgical's significant entry into the fertility market with a comprehensive range of IVF consumables.
August 2015: CooperSurgical acquires Reprogenetics, the largest laboratory specialising in preimplantation genetic screening (PGS) and diagnosis (PGD) for IVF, positioning itself at the forefront of fertility genomics.
December 2015: CooperSurgical acquires Research Instruments Ltd. (RI), a UK-based manufacturer of advanced IVF equipment, including micromanipulation devices and the RI Witness electronic witnessing system. The deal closes in early 2016.
April 2016: CooperSurgical acquires the assets of Recombine, Inc., a genetics company providing expanded carrier screening for prospective parents, further strengthening its genomic offerings.
May 2016: CooperSurgical acquires K-Systems (Kivex Biotec), a Danish company that pioneered IVF equipment such as bench-top incubators and laminar flow workstations, enabling CooperSurgical to outfit entire IVF laboratories.
Late 2016: CooperSurgical acquires the WallaceÂŽ line of IVF catheters and needles from Smiths Medical, bringing the well-regarded embryo transfer products back under its umbrella. The purchase is announced in November 2016.
2017: CooperSurgical acquires ParaGardÂŽ, the copper intrauterine contraceptive, from Teva Pharmaceutical for $1.1 billion, significantly expanding its contraception portfolio.
April 2018: CooperSurgical acquires The LifeGlobal Group, another major provider of IVF culture media and lab supplies, further expanding its offerings for embryology laboratories.
May 2018: Albert G. White III becomes CEO of The Cooper Companies.
2019: CooperSurgical acquires AEGEA Medical, adding the MaraÂŽ water vapor ablation system for heavy menstrual bleeding to its gynaecological therapeutic options.
July 2020: Holly Sheffield is appointed President of CooperSurgical.
Early 2021: CooperSurgical acquires Safe Obstetric Systems, a UK-based firm known for the Fetal PillowÂŽ device used to ease difficult deliveries during C-sections.
2021: CooperSurgical launches ParaGard with a new single-handed inserter, simplifying the placement process for clinicians.
Early 2021: CooperSurgical acquires Embryo OptionsÂŽ, a digital platform for cryogenic storage billing and consent in fertility clinics.
2021: CooperSurgical acquires Generate Life Sciences, expanding its offerings in fertility and genetic services, including cord blood banking and donor egg services.
2022: CooperSurgical acquires products from Cook Medicalâs Reproductive Health business, including the BakriÂŽ Postpartum Balloon for managing postpartum haemorrhage and cervical cerclage devices.
2022: CooperSurgical introduces an improved IUD removal hook designed to snare hard-to-grasp fragments, addressing a clinician need.
Mid-2020s (Ongoing): CooperSurgical continues to focus on innovation, integration of digital health solutions, global expansion, and leveraging advanced technologies like genomics and artificial intelligence to further improve women's health and fertility outcomes. The company emphasises supporting women throughout their life cycle and accelerating what's possible in healthcare delivery.
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Zijn er afleveringen die ontbreken?
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MVHealth: Timeline of Main Events
2014
* Company Formation in the UK: MVHealth is established in the United Kingdom.
* Crescendo Prototype: Development of the initial prototype for the Crescendo device.
2015
* End-to-End R&D Centre Setup in UK: MVHealth establishes its own research and development facility in the UK.
* Tenuto Prototype: Development of the initial prototype for the Tenuto device.
* Seed Funding Round: MVHealth raises $1.3m with a pre-money valuation (PMV) of $4.9m.
2016
* Crescendo Launch: The Crescendo device is officially launched.
* Seed Funding Round: MVHealth raises an additional $718k with a PMV of $6.6m.
2017
* Apple iOS App Launch: MVHealth releases its companion application for Apple devices.
* Google Android App Launch: The Android version of the MVHealth application is launched.
* Poco Prototype: Development begins for the Poco device.
* Remote Prototype: Initial development of a remote control device (likely for their products).
* TC Disrupt, Pioneers: MVHealth participates in the TechCrunch Disrupt event.
* Hardware Club: MVHealth joins the Hardware Club, an exclusive community for hardware startups.
* Awards: MVHealth receives Red Dot Design and Virgin Voom Export awards, and is recognized as a Top 100 Startup.
2018
* Poco Launch: The Poco device is officially released.
* Remote Launch: The remote control device is launched.
* Fully-Owned Subsidiary in US: MVHealth establishes a subsidiary in the United States.
* Angels Funding Round: MVHealth secures $1.5m in funding with a PMV of $14.1m.
* FDA Class II Device Registration: MVHealth achieves FDA Class II medical device registration.
* Launched D2C Site: MVHealth begins selling directly to consumers through their own website.
* London Mayor's Programme: MVHealth participates in a program supported by the Mayor of London.
* Crescendo GPPPD & Tenuto ED Studies Published: Clinical studies demonstrating the effectiveness of Crescendo for Genito-Pelvic Pain Disorders (GPPPD) and Tenuto for Erectile Dysfunction (ED) are published.
* Awards: MVHealth receives Management Today, The Drum, Creative Tech, and Clio awards.
2019
* Tenuto 2 & Crescendo 2 Prototypes: Development of the next generation devices, Tenuto 2 and Crescendo 2, begins.
* Angels Funding Round: MVHealth raises a further $2m with a PMV of $18.9m.
* Whitelisted by Meta, Google, Microsoft: MVHealth achieves whitelisting status with major technology platforms.
* Upgraded to Sustainable Packaging: The company transitions to more environmentally friendly packaging.
* Developed Back Pain Belt for PainCareLabs & Compact Massager for Large Corporate: MVHealth leverages its technology to create products for other companies, including a back pain belt using their malleable technology for Pain Care Labs and a compact massager for an unnamed large corporate.
* Awards: MVHealth is recognized by Design Week (beating Apple), Veuve Clicquot, and IF Design Awards.
2020
* Tenuto 2 & Crescendo 2 Launch: The Tenuto 2 and Crescendo 2 devices are officially released.
* 1M+ App Downloads: The MVHealth companion application reaches over one million downloads.
* Awards: MVHealth receives Virgin Startups, Euro Product Design, LUXLife, Disruption50, Great British Entrepreneur, Welp, and The Escape100 awards.
2021
* Tenuto Mini, Legato, Molto Launch: MVHealth significantly expands its product line with the launch of Tenuto Mini, Legato, and Molto devices.
* Series A Funding Round: MVHealth secures $9.6m in Series A funding with a PMV of $36m.
* Awards: MVHealth is recognized as a Top 10 Deeptech company and a Top Product Design Company in the UK.
2022
* FSA/HSA Eligible: MVHealth devices become eligible for Flexible Spending Account (FSA) and Health Savings Account (HSA) spending.
* Crescendo FSAD Study Published: A clinical study demonstrating the effectiveness of Crescendo for Female Sexual Arousal Disorder (FSAD) is published.
* Endorsed by Mayo Clinic: MVHealth receives an endorsement from the Mayo Clinic.
* Member of CHPA & Advamed: MVHealth becomes a member of the Consumer Healthcare Products Association (CHPA) and AdvaMed (Advanced Medical Technology Association).
* Awards: MVHealth receives Dezeen, UX Design, World Future, Muse Design, and Good Design awards.
2023
* Firmo & Sotto Prototypes: Development begins for the Firmo and Sotto devices, targeting menopause symptoms and period pain/mastitis respectively.
* Legato FSAD and Tenuto Mini ED Studies Published: Clinical studies are published supporting the use of Legato for FSAD and Tenuto Mini for ED.
* Awards: MVHealth receives Bold IV, Impact Fifty, Titan, London Design, and DNA Paris Design awards.
2024 (Upcoming)
* Further development and potential launch of Firmo and Sotto devices.
* Continued focus on research, development, and market expansion.
* Pursuing full CMS reimbursement.
Ongoing Throughout the Decade:
* Research, Development & Manufacturing: Continuous efforts in new product development and updates to existing products.
* Regulatory & Compliance Approval: Obtaining necessary approvals such as FDA and CE for their devices.
* Clinical Trials & Paper Publications: Conducting clinical studies and publishing findings in peer-reviewed journals.
* Key Opinion Leader Onboarding & Endorsement: Building relationships with and securing endorsements from leading clinicians.
* User Feedback & Efficacy Establishment: Gathering user feedback and establishing the efficacy of their devices.
* Brand Awareness & Market Presence: Increasing brand recognition and expanding their presence in the market through direct sales, clinics, and hospitals.
* IP Portfolio Development: Continuously expanding their patent and trademark portfolio.
* Brand Credibility Building: Establishing trust through high efficacy, KOL endorsements, and user satisfaction.
* Large-scale Nationwide Marketing & Trade Exhibitions: Engaging in significant marketing efforts and participating in industry events.
* Reimbursement Efforts: Actively working towards securing reimbursement for their devices.
* Building Strategic Partnerships: Collaborating with large corporates and healthcare companies.
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Medline: Timeline of Events:
1910: A.L. Mills opens Northwestern Garment Factory in Chicago, manufacturing heavy-duty aprons for stockyard butchers.
1912: A.L. Mills shifts the business focus to medical workers, transforming it into Mills Hospital Supply and producing nurses' uniforms and surgical gowns for local hospitals.
Early Years (Post-1912): Mills Hospital Supply gains a reputation for quality and reliability within Chicago's medical community.
Around 1920s-1950s: Irving Mills, A.L.'s son, joins the business at age 12, takes over at 18, and expands Mills Hospital Supply beyond uniforms to a broader range of medical supplies. He pioneers creative distribution solutions like consignment shipping to remote areas. The company expands regionally with branch offices in Houston, Norfolk, and Columbus.
1961: Irving Mills sells Mills Hospital Supply to Cenco Scientific.
1966: Irving Mills' sons, Jim and Jon Mills, found Medline Industries, Inc. in Evanston, Illinois, with Irving's guidance. Jim becomes CEO and Jon becomes President.
1967: Medline earns approximately $1 million in revenue in its first year, primarily as a distributor.
1968: Medline opens its first manufacturing facility, a textile plant in Covington, Indiana, to produce gauze, gowns, and bed linens.
1972: Medline expands beyond textiles by acquiring an injection-moulding company, renamed Dynacor, to manufacture plastic medical goods. Medline goes public on the stock market.
1977: The Mills family buys back all public shares, and Medline becomes a private company again.
Late 1970s: Medline develops a reputation for offering quality products at lower prices, facing some scepticism about the quality of inexpensive goods.
1979: Medline launches a glossy, unconventional product catalogue resembling a fashion magazine, significantly boosting textile sales.
1984: Medline becomes the second-largest medical supply distributor in the US, with approximately $120 million in annual sales. The company opens a large headquarters, manufacturing plant, and distribution centre in Mundelein, Illinois.
1980s: The healthcare landscape shifts with the emergence of AIDS and increased focus on infection control and waste reduction, driving demand for disposable medical products.
January 1990: Medline launches a dedicated Sterile Procedure Tray (SPT) division to supply pre-packaged sterile kits.
Early 1990s: Medline operates four manufacturing plants across the US and an assembly facility in Mexico, along with 14 distribution centres. The consignment shipping program evolves into a formal program called ACCESS.
1993: Medline secures a five-year agreement to supply the U.S. Veterans Affairs (VA) hospitals nationwide.
1996: A former vice president alleges Medline violated the federal False Claims Act regarding the sourcing and quality of products supplied to the VA.
1997: Medline settles the False Claims Act case for $6.4 million without admitting wrongdoing. Jim and Jon Mills hand over day-to-day leadership to their sons, Charlie Mills (CEO) and Andy Mills (President), with Jim Abrams (COO).
Late 1990s: Medline becomes the largest privately held medical supply manufacturer in America. Healthcare providers face pressure to cut costs, leading Medline to focus on value-driven products and services. Medline partners with Neoforma.com, an online marketplace.
1999: Medline purchases the exam glove division of Kendall Healthcare (Tyco International).
Around 2000: Medline products increasingly originate from customer feedback, leading to innovations like advanced wound dressings (e.g., silver-infused bandages).
2000: Medline breaks ground on a new corporate headquarters in Northfield, Illinois, and acquires additional manufacturing space in Alabama.
September 11, 2001: The terrorist attacks lead to a surge in demand for personal protective equipment, with Medline's glove sales spiking.
End of 2001: Medline's annual sales reach $1.2 billion. The company secures a major contract to supply Ascension Health.
2007: Medline acquires the CURADÂŽ first-aid brand, entering the retail market and selling to drugstores and supermarkets.
2009: Medline launches the Pink Glove Dance campaign for breast cancer awareness, which goes viral.
2011: Medline introduces the BioMask, the first FDA-cleared antiviral face mask in the U.S., under the Curad brand. Medline formally establishes Medline Europe, headquartered in the Netherlands.
2010s: Medline accelerates its international expansion, establishing operations in Europe, Asia, and the Pacific.
By 2014: Medline has a major European distribution hub in Kleve, Germany, which begins a significant expansion.
2018: Medline acquires Asid Bonz, a German medical supply firm. Medline launches a $1.5 billion Healthcare Resilience Initiative to strengthen its supply chain.
2020: Medline reports over $17 billion in annual revenue and is the largest private medical supply firm in the U.S. The COVID-19 pandemic puts unprecedented strain on global supply chains, including Medline's, despite its efforts to stockpile inventory.
Mid-2021: Medline has opened five new large distribution centres and increased on-hand inventory significantly as part of its resilience strategy.
June 2021: Medline announces a majority investment from private equity firms Blackstone, Carlyle, and Hellman & Friedman, valuing the company at around $34 billion. The Mills family retains a significant share and leadership remains in place.
End of 2022: Medline has over 50 distribution centres in North America (including a flagship facility in Grayslake, IL) and more than 20 manufacturing plants on the continent.
2023: Charlie Mills, Andy Mills, and Jim Abrams retire from their executive management roles and move to the Board of Directors. Jim Boyle becomes CEO and Jim Pigott becomes President/COO.
2024: Medline's supply chain is recognised as "Best in Business" for reliability and innovation. Medline continues to invest in technology and expands its product offerings, reaching over 125 countries.
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Cardinal Health: A Detailed Timeline
1970s: Humble Origins in Ohio
* 1971: Robert D. Walter, aged 26, purchases the struggling Ohio food wholesaler Monarch Foods with a small group of investors for $135,000 cash and assumption of $1.3 million in debt.
* Early 1970s: Walter renames the company Cardinal Foods, after Ohio's state bird. He focuses on turning the "also-ran" grocery distributor into a regional force.
* Late 1970s: The food distribution industry undergoes rapid consolidation, putting pressure on smaller firms like Cardinal. Walter's diversification attempts, including a supermarket chain, have mixed success, and a salmonella outbreak creates further challenges.
* 1979: Sensing opportunity in the booming pharmaceutical trade, Cardinal Foods makes a pivotal shift by purchasing the Bailey Drug Company, a small drug distributor in Zanesville, Ohio, for $4.4 million. This marks Cardinal's decisive entry into pharmaceutical wholesaling.
* 1979: The name Cardinal Health is effectively born as the company shifts its focus entirely to healthcare, though the official adoption of the name would take a few more years.
1980s: Building a National Distribution Network
* Early 1980s: Walter fully divests the old grocery operations to focus exclusively on healthcare.
* 1983: Robert D. Walter buys out his original investors and takes Cardinal Health public.
* 1980s: Cardinal Health embarks on a period of significant growth, acquiring regional drug wholesalers across the United States to build a national distribution network.
* Mid-1980s: Cardinal Health embraces emerging computer technology, developing its own internal software for inventory, order, and delivery management, leading to increased efficiency and faster shipping times.
* Late 1980s: Cardinal Health continues its acquisition strategy, expanding its reach into the Southeast and Mid-Atlantic regions.
* 1988: Cardinal Health divests its original food distribution business entirely, signifying its complete commitment to the healthcare sector.
1990s: Expansion and Diversification
* Early 1990s: Cardinal Health is poised to become a top-tier U.S. healthcare company, continuing its acquisition-led growth strategy.
* 1991: Cardinal Health's annual sales reach $1 billion.
* 1994: Cardinal Health merges with Whitmire Distribution, a major wholesaler based in Texas, propelling Cardinal into the third national spot in the drug distribution industry and providing a significant foothold in the Western U.S.
* 1995: Cardinal Health diversifies beyond pure drug distribution with the acquisition of Medicine Shoppe International, the largest franchisor of independent retail pharmacies in the U.S., marking its first significant venture outside of wholesale distribution.
* 1996: Cardinal Health further diversifies into medical technology with the acquisition of Pyxis Corporation, a specialist in automated dispensing cabinets for hospitals, for $867 million.
* 1997: Cardinal Health acquires Owen Healthcare, a leading provider of pharmacy management services for hospitals, further integrating itself into healthcare provider operations.
* February 1999: Cardinal Health makes a transformative acquisition of Allegiance Healthcare, a medical-products manufacturer and distributor spun off from Baxter International, for $5.4 billion. This establishes Cardinal's Medical segment alongside its Pharmaceutical segment.
* 1999: Cardinal Health's annual revenues skyrocket to $21 billion, making it one of the fastest-growing companies in America. By the end of the decade, it is ranked among the largest companies in the U.S.
2000s: New Millennium, New Challenges
* 2000: Cardinal Health enters the new millennium with record sales of over $25 billion annually and operations spanning five continents and 22 countries. It launches corporate and e-commerce websites.
* 2001: Cardinal Health employs nearly 50,000 people worldwide. It acquires Bindley Western Industries, a large pharmaceutical distributor, further consolidating its lead in drug wholesaling.
* Early 2000s: Cardinal Health expands into specialty pharmaceuticals and nuclear pharmacy.
* 2002 (Implied): Cardinal Health acquires Syncor, becoming the operator of the nation's largest chain of radiopharmacies.
* 2006: After 35 years, founder Robert D. Walter prepares to step back from day-to-day management, inviting R. Kerry Clark to become CEO while Walter remains Chairman.
* 2008: Both R. Kerry Clark and Robert D. Walter retire, marking the end of Cardinal's founding era. George S. Barrett takes over as Chairman and CEO in September. Cardinal faces scrutiny from the DEA regarding suspicious opioid orders.
* 2009: George S. Barrett leads the spin-off of Cardinal's clinical and medical products segment into a new company called CareFusion, which includes Pyxis dispensing systems and other medical technology. Cardinal Health retains its core pharmaceutical distribution and medical consumables business. Cardinal launches its Outpatient Care division.
* 2008-2009: The Great Recession tests the resilience of the healthcare supply chain, but Cardinal's services remain in steady demand.
* By 2010: Cardinal Health has a sharper focus on its Pharmaceutical and Medical segments and is one of the "big three" drug distributors in America.
2010s: Extending Reach â Specialty, Home, and Global Expansions
* 2010: Cardinal Health acquires Healthcare Solutions Holding, forming the basis of its Specialty Solutions division, and Kinray, a large independent drug distributor serving the New York area. It also acquires a majority stake in Yong Yu, a leading Chinese drug distributor.
* 2013: Cardinal Health forms Red Oak Sourcing, a joint venture with CVS Caremark, to become the largest generic drug sourcing entity in the U.S. It also acquires AssuraMed, a leading direct-to-home medical supplies distributor, for $2.07 billion, rebranding it as Cardinal Health at-Home Solutions.
* 2014: Red Oak Sourcing begins operations.
* Mid-2010s: Cardinal Health China serves thousands of hospitals and pharmacies.
* 2015: Cardinal Health acquires Cordis, a cardiology and endovascular device manufacturer, from Johnson & Johnson for approximately $1.94 billion.
* 2016: Cardinal Health pays $44 million to settle allegations by the DEA regarding failure to report suspicious opioid orders.
* 2017: Cardinal Health sells its China business to Shanghai Pharma for $1.2 billion. It also agrees to acquire a suite of medical products from Medtronic for $6.1 billion, which closes in July 2017, roughly doubling the size of Cardinal's Medical segment.
* 2018: Mike Kaufmann takes over as CEO from George Barrett.
* 2018-2019: Dozens of lawsuits are filed against Cardinal Health and other distributors regarding their role in the opioid crisis.
* 2019: Cardinal Health opens the Fuse innovation center, focused on developing digital healthcare solutions.
2020: Frontline Support in a Global Pandemic
* Early 2020: Demand for PPE surges due to the COVID-19 pandemic. Cardinal Health's Medical segment works to secure and distribute supplies.
* March 2020: CEO Mike Kaufmann participates in a White House briefing, highlighting public-private coordination to address supply needs.
* April 2021 (Retrospective): Cardinal Health is awarded a federal contract to manage a segment of the Strategic National Stockpile.
* 2020: Cardinal Health plays a significant role in distributing COVID-19 related medications and, later, vaccines. A recall of some Cardinal Health-branded surgical gowns occurs due to manufacturing issues.
Mid-2010s to Present: Innovation, Acquisition and Adversity (Continued)
* July 2021: Cardinal Health, along with other distributors and Johnson & Johnson, agrees to a landmark $26 billion settlement to resolve most opioid lawsuits, with Cardinal's share being $6.4 billion to be paid over 18 years.
* 2021: Cardinal Health sells Cordis to a private equity firm.
* 2022: Jason Hollar becomes CEO of Cardinal Health, succeeding Mike Kaufmann. Cardinal Health acquires ScalaMed, a smart prescription management app.
* 2023: Cardinal Health announces a partnership with Zipline to trial long-range drone delivery of medical supplies in North Carolina.
* Ongoing 2020s: Cardinal Health focuses on digital health, data analytics, AI, and innovations like drone delivery. It navigates the evolving healthcare landscape, including the rise of home-based care and personalised medicine. The company emphasises its role as a healthcare partner, providing solutions beyond just product distribution.
Cast of Characters
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Siemens Healthineers: Timeline of Events
1840s:
* 1844: Werner von Siemens experiments with medical applications of electricity, relieving his brother's toothache with a self-built induction device.
* October 1847: Werner von Siemens and Johann Georg Halske found Siemens & Halske (S&H) in Berlin, initially focused on telegraph technology.
* Late 1847: Siemens & Halske introduces its first medical product, the Slide Inductor, an electrotherapy machine.
1870s - 1890s:
* 1877: Erwin Moritz Reiniger opens a workshop for electro-medical devices in Erlangen.
* 1886: Reiniger partners with Max Gebbert and Karl Schall to found Reiniger, Gebbert & Schall (RGS), a leading producer of medical instruments, particularly for X-ray technology.
* November 1895: Wilhelm Conrad RĂśntgen discovers X-rays.
* Late 1895: Siemens engineers begin designing the company's first X-ray tubes for medical use within weeks of RĂśntgen's discovery.
* 1896: Siemens produces the first industrially manufactured X-ray tubes for medical diagnostics.
* 1901: Friedrich Dessauer establishes a lab in Aschaffenburg, which becomes Veifa-Werke, dedicated to exploring X-rays.
1900s - 1930s:
* Early 20th Century: Siemens & Halske, RGS, and Veifa-Werke compete and collaborate in the emerging field of radiography.
* 1914 - 1918: World War I causes significant challenges for the companies, with market collapse, worker conscription, and a shift towards military production. Veifa-Werke falls into financial trouble.
* Post-WWI: Germany experiences hyperinflation and instability. RGS accumulates heavy debts by 1924.
* January 1, 1925: Siemens & Halske takes over Reiniger, Gebbert & Schall (RGS) to provide financial stability. RGS initially remains an independent subsidiary.
* 1932: The merger of Siemens & Halske and RGS is structurally completed with the formation of Siemens-Reiniger-Werke (SRW) as a unified medical technology company within Siemens. Headquarters and manufacturing are consolidated in Erlangen.
* 1933: Siemens introduces the world's first rotating anode X-ray tube, marketed as "Pantix," significantly improving X-ray performance.
* 1933: The National Socialists come to power in Germany.
* 1939 - 1945: World War II disrupts production at SRW, with employees conscripted and some facilities employing forced labour.
1940s - 1960s:
* Post-1945: Siemens-Reiniger-Werke rebuilds and re-establishes international connections.
* 1950: SRW reintroduces itself on the world stage at the International Congress of Radiology in London.
* Early 1950s: Inge Edler and Carl Hellmuth Hertz in Sweden, with Siemens support, achieve the world's first echocardiogram using ultrasound.
* 1958: A team at Siemens-Elema in Sweden designs the first implantable cardiac pacemaker, which is implanted in a patient by Ă ke Senning in Stockholm.
* Mid-1960s: Siemens engineer Ralph Soldner invents the Vidoson, the world's first "real-time" ultrasound machine.
* 1966: Siemens AG is formed, and the medical technology division becomes known internally as "Wernerwerk fĂźr Medizinische Technik."
1970s - 1980s:
* 1974: Siemens scientists present the company's first tomographic X-ray image of a human head at the Radiological Society of North America meeting in Chicago.
* 1975: Siemens releases its first commercial CT scanner, the Siretom.
* Late 1970s: Siemens' research laboratories work on MRI prototypes.
* February 1980: Siemens obtains its first MRI image of a human head (Dr. Alexander Ganssen).
* August 1983: Siemens commissions its first commercial MRI scanner, the MAGNETOM, at the Mallinckrodt Institute of Radiology in St. Louis, USA.
* 1980s: Siemens advances angiography, fluoroscopy, and invests in nuclear medicine, opening an R&D facility in Illinois.
* Late 1980s: Siemens develops the Syngo imaging software platform and introduces early Picture Archiving and Communication Systems (PACS).
1990s - 2000s:
* 1992: Siemens establishes its first manufacturing site in China (Shanghai) for X-ray and ultrasound systems.
* 1998: Siemens introduces the first track-based lab automation system, the Advia LabCell.
* Early 2000s: Siemens opens advanced production facilities in Shenzhen (MRI magnets) and Wuxi (X-ray tubes) in China. Expansion also occurs in India and the USA (Illinois for molecular imaging).
* 2000: Siemens acquires Shared Medical Systems (SMS), a U.S. hospital information systems company.
* 2000: Siemens unveils the Biograph PET-CT, the first system to physically combine PET and CT scanners in one unit.
* 2006: Siemens announces the acquisition of Diagnostic Products Corporation (DPC) and the Diagnostics Division of Bayer.
* 2007: Siemens further expands its lab portfolio by acquiring Dade Behring.
2000s - 2010s:
* 2005: Siemens first launches its Dual-Source CT scanner as the SOMATOM Definition.
* 2010: Siemens launches the Biograph mMR, the world's first fully integrated PET-MRI scanner.
* 2011: Siemens exits the business of radiation therapy linear accelerators.
* 2014: Siemens sells its hospital IT business to Cerner.
* 2016: Siemens rebrands its healthcare division as Siemens Healthineers.
* 2017: Siemens Healthineers launches a portable ultrasound system priced for primary care settings.
* 2017: Siemens launches the Atellica Solution for high-throughput labs.
* 2018: Siemens Healthineers AG debuts as a publicly listed company on the Frankfurt Stock Exchange.
* 2019: Siemens Healthineers acquires Corindus Vascular Robotics, specializing in robotic-assisted systems for minimally invasive procedures.
* 2020: Siemens introduces the AI-Rad Companion, an AI software suite for automated image analysis.
* August 2, 2020: Siemens Healthineers announces an agreement to acquire Varian Medical Systems for $16.4 billion.
2021:
* April 2021: The acquisition of Varian Medical Systems is completed.
* 2021: Siemens Healthineers receives FDA clearance for the Naeotom Alpha, its next-generation photon-counting CT scanner.
2022 - Early 2025:
* Early 2020s: Siemens Healthineers responds to the COVID-19 pandemic with diagnostic assays and remote service technologies.
* 2022: Siemens Healthineers faces scrutiny for its continued operations in Russia following the invasion of Ukraine.
* August 2024: Siemens Healthineers acquires the diagnostic arm of Advanced Accelerator Applications (AAA) from Novartis, specialising in radiopharmaceuticals.
* Early 2025: Siemens Healthineers continues to focus on developing photon-counting CT, high-field MRI, accessible imaging solutions, advanced lab diagnostics, and integrating AI across its portfolio. The Varian division focuses on innovations like flash radiation therapy and AI-driven treatment planning.
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Hims & Hers Health: Timeline
2017
* Summer: Andrew Dudum, a Silicon Valley entrepreneur, conceives the idea for a company to address men's health issues with discretion.
* November 1: Hims officially launches as a direct-to-consumer wellness brand focused on men's health, offering telehealth consultations and discreet shipping of treatments for hair loss (finasteride, minoxidil) and erectile dysfunction (sildenafil).
* First Week: Hims reportedly surpasses $1 million in sales, experiencing significant early demand.
2018
* October: Hims unveils Hers, a dedicated line for women's health and wellness, applying the same model of telehealth and stylish branding to areas like birth control, skincare, and women's hair care. Hers also begins offering emergency contraception.
* Hims & Hers expands its product offerings beyond initial categories to include vitamins and supplements for general wellness and sleep.
2019
* January: Hims & Hers achieves "unicorn" status with a valuation over $1 billion after a Series C funding round.
* Hims products become available in Target stores, marking the brand's first brick-and-mortar presence.
* Andrew Dudum reports that the Hims & Hers platform is seeing two to three thousand patient consultations daily across various categories.
2020
* Early 2020: The COVID-19 pandemic begins, significantly increasing the need for and acceptance of telehealth services.
* Within Days of Lockdowns: Hims & Hers rapidly launches a virtual primary care service at cost to alleviate pressure on the traditional healthcare system.
* Mid-2020: Hims & Hers rolls out online psychiatry services in most states, allowing patients to receive evaluations and prescriptions for mental health conditions.
* Hims & Hers also introduces individual therapy in select states and free anonymous online support groups led by counselors.
* By the end of the year, Hims & Hers is providing psychiatry services in 44 states and therapy in 32 states.
2021
* January: Hims & Hers goes public on the New York Stock Exchange (NYSE) via a SPAC merger, becoming Hims & Hers Health, Inc. (ticker symbol HIMS), raising approximately $280 million and achieving a valuation of around $1.6 billion. The NYSE is adorned with a Hims & Hers banner proclaiming "The future of healthcare."
* Hims & Hers acquires Apostrophe, a personalized teledermatology and online pharmacy service specialising in custom-compounded prescription skincare, for an estimated $150â190 million.
* Hims & Hers continues to expand its product lines across sexual health (e.g., "Hard Mints"), hair care (improved topicals), and skincare.
2022
* Hims & Hers further expands its over-the-counter skincare line through a partnership.
* By late 2022, Hims & Hers reports having facilitated over a million telehealth consultations.
2023
* Early 2023: Hims & Hers appoints a Senior Vice President of Mental Health.
* Actress Kristen Bell partners with Hers as a mental health ambassador.
* Spring: Hims & Hers launches its Weight Management program, initially focusing on conventional strategies.
* Mid-2023: Hims & Hers introduces "Heart Health by Hims," its first foray into cardiovascular health, offering personalised sexual health treatments with integrated cardiovascular support in collaboration with the American College of Cardiology and partnering with Labcorp for convenient lab testing.
* Late 2023: Hims & Hers announces "MedMatch," an AI-powered tool to provide clinical decision support, initially focused on mental health treatment recommendations.
* Hims & Hers begins offering access to compounded semaglutide injections for weight loss at a lower cost than branded options, capitalising on drug shortages.
2024
* Hims & Hers rapidly scales its Weight Loss by Hims & Hers program, including compounded semaglutide, nutritional coaching, and exercise guidance.
* September: Hims & Hers announces a special initiative offering compounded GLP-1 treatments for as low as $99 per month for "community heroes."
* Hims & Hers acquires a peptide compounding facility in California to strengthen its supply chain for injectable medications.
* Dr. Jessica Shepherd is appointed Chief Medical Officer for the Hers brand.
* Hims & Hers launches the Hims & Hers Health Collective, an ambassador program for customers.
* Hims & Hers achieves profitability for the first time.
* Hims & Hers experiences a surge in inquiries about its weight loss program following a controversial Super Bowl TV commercial criticising the traditional healthcare system for its approach to obesity.
* Two U.S. Senators express concern to the FDA about the content of the Super Bowl ad.
* Hims & Hers adds pharmacy and regulatory experts to its leadership team.
* Hims & Hers pilots a program with a major hospital system for patient referrals.
2025
* February: The FDA officially declares the shortage of semaglutide over, impacting the ability of compounding pharmacies to produce it at scale. Hims & Hers acknowledges this potential change in its weight loss offerings.
* February: Hims & Hers acquires Trybe Labs (Sigmund Labs), an at-home diagnostics company with a CLIA-certified lab, to enable at-home blood testing and expand into new clinical categories.
* March: Hims & Hers announces it will discontinue the Apostrophe brand and integrate its dermatology services fully into the core Hims & Hers platform, leading to some staff layoffs.
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Olympus Medical: A Century of Innovation - Timeline of Main Events
1919:
* Takeshi Yamashita establishes Takachiho Manufacturing Co., Ltd. in Tokyo on October 12th, with the goal of producing high-quality, Japanese-made microscopes.
1920:
* Takachiho Manufacturing Co., Ltd. (soon to be known as Olympus) unveils the Asahi microscope, Japanâs first domestically manufactured microscope.
1920s-1930s:
* Olympus expands its product range and technical expertise, producing more advanced microscopes like the Showa GK immersion microscope (1927).
* Olympus ventures into photographic lenses under the "Zuiko" brand.
1936:
* Olympus releases its first consumer camera, the Semi-Olympus.
1949:
* Takachiho Manufacturing Co., Ltd. is renamed Olympus Optical Co., Ltd.
Late 1940s:
* Surgeons at the University of Tokyo Hospital conceive the idea of a camera to photograph the inside of the stomach and approach Olympus.
* Olympus engineers begin developing the gastrocamera under the leadership of Tatsujiro Kirschner.
1950:
* Olympus unveils the worldâs first practical gastrocamera, the GT-1, at a meeting of the Japan Surgical Association. Dr. Shigeru Kanai is among the first to use it.
1950s:
* Olympus continues to refine the gastrocamera, improving image quality and ease of use.
1957:
* Olympus introduces the GT-III gastrocamera, featuring sharper photos of the stomach lining.
Early 1960s:
* Olympus engineers begin experimenting with fiber-optic endoscopes.
1964:
* Olympus achieves a breakthrough by attaching a fiber-optic bundle to a modified gastrocamera, allowing live viewing and photography.
* Winter & Ibe introduces fibre-optic illumination in urology scopes.
Mid-1960s:
* Olympus releases its first fully flexible fibre gastroscope, enabling real-time observation and biopsies.
1966:
* Olympus, working with Dr. Shigeto Ikeda and Machida, co-develops the worldâs first flexible fibreoptic bronchoscope. Dr. Ikeda presents it in Copenhagen.
Late 1960s:
* Fibre bronchoscopes become widely used in hospitals.
June 1969:
* Dr. William Wolff and Dr. Hiromi Shinya perform one of the worldâs first total colonoscopies using a prototype colonoscope developed in collaboration with Olympus.
* Olympus has a dedicated colonoscope in development, incorporating feedback from Wolff and Shinya.
Around 1971:
* Dr. Hiromi Shinya, working with Olympus, develops a wire loop snare-cautery device for endoscopic polyp removal.
1969-1972:
* Wolff and Shinya perform over 1,600 colonoscopies and remove hundreds of polyps using Olympus colonoscopes and snares.
1973:
* Wolff and Shinya publish their landmark findings on colon polyps and endoscopic removal in the New England Journal of Medicine.
1975:
* Olympus establishes a partnership with Winter & Ibe GmbH, gaining access to their line of surgical endoscopes in exchange for optical systems.
Late 1970s:
* Olympus begins selling laparoscopes and other rigid scopes under its brand.
1970s:
* KeyMed Ltd. becomes a key distributor and partner for Olympus endoscopes in Europe.
* Olympus begins investing more heavily in its medical division due to the success of endoscopy.
1979:
* Olympus acquires Winter & Ibe GmbH, establishing "Olympus Winter & Ibe" as its European manufacturing base for surgical endoscopes and instruments.
* Olympus acquires majority ownership of KeyMed Ltd.
* Olympus opens a major repair and service centre in San Jose, California.
Early 1980s:
* Olympus can offer a comprehensive suite of flexible and rigid endoscopes and related instruments.
1983:
* Olympus merges its U.S. operations into a unified subsidiary, Olympus Corporation of America.
1983-1985:
* Olympus develops its first video endoscope system.
1985:
* Olympus introduces its first complete Endoscopic Video Information System (EVIS), the first generation video endoscope setup.
1987:
* Olympus fully acquires KeyMed Ltd.
* Olympus establishes an office in Beijing, China.
* Laparoscopic cholecystectomy begins to gain popularity, contributing to a boom in minimally invasive surgery.
1989:
* Olympus launches the EVIS 100 system.
1990:
* Olympus launches the EVIS 200 system.
1992:
* Olympus introduces EndoALPHA, an integrated operating room concept for minimally invasive surgeries.
2002:
* Olympus launches the EVIS LUCERA system (EVIS EXERA in some regions), the worldâs first high-definition (HD) endoscope platform.
* Olympus launches the Visera line, the worldâs first integrated video system for surgical endoscopy usable across various departments.
Around 2005:
* Olympus introduces Narrow Band Imaging (NBI) technology.
2008:
* Olympus acquires Gyrus Group, a UK-based maker of surgical energy devices and endoscopes.
2010:
* Olympus acquires Spiration Inc., a U.S. company developing the Spiration Valve for severe emphysema.
2011:
* Michael Woodford, the British CEO of Olympus, goes public with allegations of a major accounting fraud within the company. Tsuyoshi Kikukawa resigns as chairman.
2012:
* Hiroyuki Sasa becomes the new president of Olympus, initiating a transformation program focused on medical technology.
* Olympus Surgical Technologies America is created, integrating Gyrusâs facilities.
2015:
* Sony Olympus Medical Solutions introduces one of the first surgical endoscopy systems with true 4K resolution.
2019:
* Olympus celebrates its 100th anniversary. Yasuo Takeuchi is President and CEO. Olympus takes a minority stake in Medineering, a robotic endoscope holder company.
2020:
* Olympus exits the traditional camera business, selling its imaging division.
* Olympus launches the ENDO-AID AI platform in its latest endoscopy system, the EVIS X1.
* Olympus spins off its scientific microscope division.
2021:
* Olympus rolls out H-SteriScope⢠single-use bronchoscopes, entering the single-use endoscopy market.
2022:
* Olympus's spun-off scientific microscope division is rebranded as Evident Corporation.
2023:
* Olympus agrees to acquire Odin Vision, a British startup focused on cloud-based AI for endoscopy.
* Stefan Kaufmann's tenure as CEO of Olympus is cut short, indicating stronger corporate governance.
Present Day (2020s):
* Olympus focuses on advanced imaging (4K, 3D), AI-powered diagnostics, single-use devices, and therapeutic innovations in endoscopy and minimally invasive surgery.
* The company maintains a leading position in the global endoscope market.
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Medtronic: A Timeline of Events
1949:
* Earl Bakken and Palmer Hermundslie found Medtronic in a Minneapolis garage as a medical equipment repair service, initially focused on electrocardiogram machines and lab instruments.
Early 1950s:
* Medtronic operates on tight margins, with one month reportedly earning only $8 in revenue.
* The "garage gang" perseveres, driven by a passion to help others.
* Bakken improvises and crafts over 100 custom devices for medical researchers, often using surplus parts. These include primitive defibrillators and cardiac monitors.
1957:
* A power blackout in Minneapolis on Halloween night causes pacemakers in a hospital to fail, tragically resulting in the death of one infant recovering from heart surgery.
* The following day, Dr. C. Walton Lillehei challenges Earl Bakken to create a battery-powered pacemaker.
* Bakken, inspired by a Popular Electronics article, develops a small, battery-operated, wearable pacemaker within a few weeks.
* Dr. Lillehei immediately uses Bakken's prototype on a child, successfully keeping their heart in rhythm. This marks the beginning of mobile cardiac pacing.
1958:
* News of the wearable pacemaker spreads rapidly, and hospitals begin placing orders.
* Medtronic, in partnership with Dr. William Chardack and engineer Wilson Greatbatch, introduces the first implantable pacemaker.
1960:
* Medtronic secures exclusive rights to manufacture the Chardack-Greatbatch implantable pacemaker, shifting its focus to developing and selling its own life-sustaining devices.
* Orders for implantable pacemakers pour in.
* Medtronic moves out of the garage into its first proper headquarters.
* A small sales force is hired to cover the United States and Canada.
* Faced with financial strain due to heavy R&D spending, Earl Bakken drafts the Medtronic Mission Statement, with the core tenet: "To contribute to human welfare by application of biomedical engineering to alleviate pain, restore health, and extend life."
* Bakken starts the annual Medtronic holiday party featuring patient testimonials.
Early 1960s:
* Medtronic expands its product line to include heart monitors, defibrillators, and other cardiac support devices.
* Annual sales climb to over $500,000 by 1962.
Late 1960s:
* Medtronic becomes the leader in cardiac rhythm management, refining pacemakers with improved battery life and reliability.
* The company begins exploring applications of electrical stimulation for other medical problems, prototyping early neuromodulators for pain management.
1970s:
* Medtronic experiences significant expansion, commanding around 35% of the global pacemaker market by the mid-70s.
* Annual sales surpass $100 million in 1975 and $200 million by 1979.
* In 1977, Medtronic is listed on the New York Stock Exchange.
* The company diversifies into diabetes care, neurosurgery, and orthopaedic/spinal therapy.
* Medtronic introduces the Medtronic-Hall mechanical heart valve (1977) and steroid-eluting cardiac leads.
* Acquisitions include Medical Data Systems (nuclear imaging equipment, 1978) and Energy Technology (lithium batteries, later Promeon).
* Earl Bakken steps down as president in 1974, becoming chairman of the board. He is succeeded by Thomas Holloran and then Dale Olseth as CEO.
* The Medtronic Foundation is established in 1979.
* The Bakken Society is founded in 1979 to recognise top scientists and engineers.
1980s:
* Medtronic continues to refine cardiac rhythm management with programmable pacemakers (Spectrax, 1981) and rate-responsive pacemakers (Activitrax, 1985).
* Acquisitions include Biotech (Italy) and Vitatron (Netherlands) in 1986, strengthening its position in rate-responsive pacing and Europe.
* Regional headquarters are established in Europe and Latin America, and manufacturing plants open internationally.
* Medtronic develops an implantable neurostimulator for chronic pain and collaborates on the world's first deep brain stimulation (DBS) system for movement disorders (1987).
* By the end of the decade, Medtronic has six primary business areas beyond pacemakers.
1985:
* Winston "Win" Wallin is hired as CEO.
1989:
* Earl Bakken retires as chairman of the board.
Early 1990s:
* Under Win Wallin's leadership (1985-1991), Medtronic's sales more than triple, exceeding $1 billion by 1991.
* Medtronic introduces its first implantable cardioverter-defibrillator (ICD) in 1993.
1991:
* William W. "Bill" George succeeds Win Wallin as CEO.
1990s:
* Under Bill George's leadership (1991-2001), Medtronic aggressively expands into new therapies through R&D and acquisitions.
* The company cultivates a highly engaged workforce and becomes Minnesota's most valuable company.
* Medtronic launches the Activa DBS device.
* The Spinal Modulation business is boosted by the acquisition of Sofamor Danek.
Early 2000s:
* Arthur "Art" Collins takes over from Bill George as CEO in 2001.
* Medtronic acquires MiniMed in 2001, entering the diabetes management field with insulin pumps.
* Revenues surge past $10 billion under Collins (2001-2007), fueled by major acquisitions like Sofamor Danek and MiniMed.
* Medtronic launches the industryâs first remote device monitoring system in 2002.
2007:
* Bill Hawkins assumes the CEO role (2007-2011).
* Medtronic faces a high-profile recall of its Sprint Fidelis heart device leads.
* Hawkins advances innovations like the first transcatheter heart valves.
2011:
* Omar Ishrak is appointed CEO â the first person of colour and first external hire to lead the company.
2010s:
* Under Omar Ishrak (2011-2020), Medtronic focuses on global expansion and efficiency.
* In 2015, Medtronic acquires Covidien for $42.9 billion, nearly doubling its size and broadening its offerings. The legal headquarters move to Ireland in a tax inversion.
* Medtronic introduces the Micra leadless pacemaker (2016) and the MiniMed 670G automated insulin dosing system (2016).
* The Infuse bone graft controversy leads to investigations and settlements.
* Acquisition of Mazor Robotics (spine surgery robotics, 2018).
* Medtronic becomes the market leader in TAVR (transcatheter aortic valve replacement) by 2019.
2020:
* Geoff Martha becomes CEO after Ishrak's retirement.
* Medtronic recalls around 322,000 MiniMed insulin pumps due to a safety issue.
* During the COVID-19 pandemic, Medtronic open-sources a ventilator design and significantly increases its own ventilator production.
* Launch of the MiniMed 780G system in Europe.
Early 2020s:
* Medtronic's Hugo⢠Robotic Assisted Surgery (RAS) system performs its first patient procedures in Europe (2021).
* Acquisition of Intersect ENT (sinus implants, 2022).
* Medtronic faces global supply chain disruptions and inflationary pressures.
* The company undertakes cost-cutting and efficiency programs.
* Spinoff of the Renal Care Solutions business into Mozarc Medical (2023) and plans to separate the Patient Monitoring and Respiratory Interventions businesses.
* Medtronic reports its products touch over 74 million patients annually by 2023.
Future Outlook:
* Focus on integrating artificial intelligence and data science into products and services.
* Continued expansion of access to therapies in developing markets through frugal innovation.
* More collaboration and open innovation initiatives.
* Strategic investments in high-growth areas like cardiac ablation, structural heart, neuromodulation, and surgical robotics.
* Maintaining a culture of innovation and agility while upholding the core mission.
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Boston Scientific: A Timeline of Events
1960s:
* Late 1960s: Inventor Itzhak Bentov develops a steerable catheter at the request of radiologists at Bostonâs Beth Israel Hospital.
1969:
* Bentov's steerable catheter enables physicians to navigate arteries in unprecedented ways.
* Young entrepreneur John Abele recognises the potential of Bentov's innovation and joins Bentov's company, Medi-Tech, located in a church basement in Belmont, Massachusetts.
1970:
* John Abele exercises his option to buy into Medi-Tech, marking the initial step towards the creation of Boston Scientific.
1970s:
* Throughout the decade, Abele fosters the growth of Medi-Tech in the emerging field of interventional medicine, focusing on treating diseases from inside the body using catheters.
1979:
* June 29: John Abele and dynamic businessman Peter âPeteâ Nicholas officially found Boston Scientific Corporation in a small office in Watertown, Massachusetts. The company is established as a holding entity to acquire Medi-Tech and expand into the broader interventional medical device field. The co-founders share a vision of pioneering less invasive surgical approaches.
* Abele and Nicholas meet at their childrenâs football (soccer) game in Massachusetts.
Early 1980s:
* Boston Scientific's mission is established: âtransforming lives through innovative medical solutions.â
* Boston Scientific begins a strategy of expanding its product offerings through strategic acquisitions.
1980:
* Less than a year after its founding, Boston Scientific acquires Kimray Medical, known for vena cava filters and cardiac output monitors, broadening its portfolio beyond catheters.
1981:
* Boston Scientific purchases Endo-Tech, later rebranded Microvasive, bringing in devices for gastrointestinal and pulmonary conditions. This acquisition forms the foundation of the companyâs endoscopy division.
Mid-1980s:
* Boston Scientific establishes its first manufacturing plant in a renovated mill building in Watertown, Massachusetts.
1988:
* Boston Scientific establishes a presence in urology by acquiring Van-Tec, adding innovative urinary tract devices.
* December 31: The original Medi-Tech, Microvasive, and other units are fully merged into Boston Scientific, consolidating their product lines into one company.
Late 1980s:
* John Abele champions a culture of education and knowledge-sharing, personally training physicians on new Boston Scientific devices.
* Under Pete Nicholas's leadership as CEO, Boston Scientific experiences rapid growth. By 1987, annual revenues have grown significantly.
1992:
* May 19: Boston Scientific goes public with its initial public offering (IPO) on Wall Street, debuting at $17 per share. The IPO values the company at around $1.6 billion and provides capital for further expansion.
1990s:
* A decade of rapid expansion through strategic acquisitions across various medical divisions.
* 1995: Boston Scientific acquires SCIMED Life Systems, enhancing its capabilities in cardiovascular catheters and coronary angioplasty.
* Mid-1990s: Acquisition of Cardiovascular Imaging Systems, adding intravascular ultrasound technology.
* Acquisitions of EP Technologies (cardiac ablation tools) and Meadox Medical (artificial blood vessels).
* Acquisitions strengthening positions in urology (Vesica Medical) and oncology (Symbiosis).
* The endoscopy business, originating from the Microvasive acquisition, flourishes with new tools for minimally invasive GI procedures.
* Boston Scientific actively invests in physician training and education for new minimally invasive techniques like angioplasty and endoscopy.
1999:
* Pete Nicholas steps down as CEO but remains Chairman of the Board.
* Jim Tobin is appointed as the new CEO of Boston Scientific.
Early 2000s:
* Boston Scientific focuses heavily on research and development of next-generation technologies.
* Boston Scientific acquires Advanced Bionics, entering the neuromodulation field with spinal cord stimulation and cochlear implants.
2003:
* The TAXUS⢠drug-eluting coronary stent receives regulatory approval in Europe and other markets.
2004:
* The TAXUS⢠drug-eluting stent receives U.S. FDA approval. This breakthrough product propels Boston Scientific to the leading position in the interventional cardiology market.
* Boston Scientific's market valuation briefly surpasses that of Medtronic.
2006:
* Boston Scientific acquires Guidant Corporation, a major player in cardiac rhythm management (pacemakers and defibrillators), for approximately $27 billion in a highly competitive bidding war with Johnson & Johnson. This acquisition makes Boston Scientific a significant player in CRM but also brings challenges related to Guidant product recalls.
Mid-2000s:
* Boston Scientific faces challenges integrating Guidant, addressing product recalls, and managing debt. The company emphasises its core values of caring and high performance to restore trust.
2009:
* Ray Elliott is appointed as the new CEO to lead a turnaround effort.
2010:
* Boston Scientific divests its Neurovascular division to Stryker Corp for $1.5 billion to focus on core cardiovascular, rhythm, endoscopy, and urology businesses.
2011:
* Boston Scientific acquires Atritech, developer of the WATCHMAN⢠Left Atrial Appendage Closure device.
* Acquisition of Sadra Medical, a startup with the Lotus⢠transcatheter aortic valve replacement (TAVR) system.
* Ray Elliott retires as CEO.
2012:
* Michael F. âMikeâ Mahoney is appointed CEO, tasked with rekindling growth and transforming the company culture.
* Boston Scientific acquires Cameron Health, gaining the EMBLEM⢠Subcutaneous ICD (S-ICD).
2013:
* Boston Scientific acquires the electrophysiology business of C.R. Bard, expanding its presence in cardiac arrhythmia treatment.
Mid-2010s:
* Boston Scientific obtains regulatory approvals in Europe for the Lotus⢠Valve System.
2015:
* FDA approval for the WATCHMAN⢠Left Atrial Appendage Closure device.
* Boston Scientific acquires the Menâs Health and Prostate Health businesses of American Medical Systems (AMS), becoming a leader in urology.
* Acquisition of Xlumena, developer of the AXIOS⢠Stent and Electrocautery Enhanced Delivery System for endoscopic ultrasound.
2016:
* Release of the LithoVue⢠single-use ureteroscope for kidney stone removal.
* Pete Nicholas steps down as Chairman of the Board.
2017:
* U.S. FDA approval for Boston Scientific's Vercise⢠Deep Brain Stimulation (DBS) system.
2018:
* Boston Scientific acquires nVision Medical, a startup developing a device for early ovarian cancer detection.
* Acquisition of NxThera, developer of the Rezōm⢠Water Vapor Therapy for BPH.
* Acquisition of Claret Medical, adding the Sentinel⢠cerebral protection device.
* Acquisition of Vertiflex, with a minimally invasive implant for lumbar spinal stenosis.
Late 2010s:
* Boston Scientific introduces the SYNERGY⢠Megatron stent.
* Continued focus on cultural transformation under Mike Mahoney, emphasizing innovation, agility, and a âwinning spirit.â
2019:
* FDA clearance for the EXALT⢠Model D, the worldâs first fully disposable single-use duodenoscope.
* Boston Scientific acquires BTG, expanding its interventional oncology portfolio with products like TheraSphere⢠Y-90 radioembolization.
2020:
* Boston Scientific makes the decision to retire the Lotus⢠TAVR valve platform.
* The COVID-19 pandemic impacts elective medical procedures globally.
2021:
* Acquisition of Farapulse, a leader in Pulsed Field Ablation (PFA) technology for treating cardiac arrhythmias.
* FDA clearance for the EXALT⢠Model B single-use bronchoscope.
2022:
* Pete Nicholas, co-founder of Boston Scientific, passes away.
* Boston Scientific announces the acquisition of Apollo Endosurgery to expand its endoscopy business into obesity and GI closure technologies.
* Acquisition of Biometrics Limited (external neuromodulation wearable for overactive bladder).
2023:
* Completion of the acquisition of Apollo Endosurgery.
* Planned acquisition of Relievant Medsystems (Intracept procedure for chronic back pain).
Early 2025:
* Over half a million people worldwide have received a WATCHMAN⢠implant.
* The EMBLEM⢠S-ICD has saved numerous patients from sudden cardiac death.
* Boston Scientificâs Farapulse PFA system is in clinical trials in the U.S., with anticipation for its potential impact on atrial fibrillation treatment.
* Rezōm⢠Water Vapor Therapy has treated tens of thousands of patients for BPH.
* Boston Scientific employs over 50,000 people worldwide and treats more than 44 million patients annually.
* Actively involved in trials for drug-device combinations and research into bioresorbable materials.
This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.uhaid.org -
Stryker: A Detailed Timeline
1930s:
* Late 1930s: Dr. Homer Stryker, an orthopedic surgeon at Borgess Hospital in Kalamazoo, Michigan, begins tinkering with tools and metal in the hospital basement, frustrated by the limitations of existing medical equipment.
1940s:
* Early 1940s: Dr. Stryker invents the Turning Frame bed, a cast-cutting saw, and a walking heel for leg casts.
* 1941: Encouraged by interest in his inventions, Dr. Stryker officially founds The Orthopedic Frame Company.
* World War II Era: The U.S. Army orders significant numbers of Dr. Stryker's Turning Frames for wartime use.
* Wartime Collaboration: To meet demand during wartime shortages, Dr. Stryker partners with a local toy wagon factory to manufacture Turning Frames.
* 1947: Dr. Stryker patents the oscillating cast saw.
* Late 1940s: The Orthopedic Frame Company transitions from a side project into a small business focused on healthcare innovation.
1950s:
* 1950s: The Circ-O-Lectric bed, a fully rotating hospital bed, is developed by Dr. Stryker.
* 1956: Dr. Homer Stryker unveils the Circ-O-Lectric Bed.
* Throughout the 1950s: The Orthopedic Frame Company experiences steady growth, with Dr. Stryker dividing his time between surgery and invention.
* Mid-1950s: Lee Stryker, Dr. Stryker's son, joins the business as general manager.
* 1958: The Orthopedic Frame Company reaches $1 million in annual sales for the first time.
1960s:
* 1964: Dr. Homer Stryker retires from his medical practice to focus solely on his company.
* 1964: The Orthopedic Frame Company is renamed Stryker Corporation.
* Late 1960s: Stryker Corporation expands its product line to include new surgical instruments and early powered tools.
* Late 1960s: The company moves to a larger headquarters on Alcott Street in Kalamazoo, employing hundreds.
* 1969: Lee Stryker assumes the role of President and Chief Operating Officer.
1970s:
* Mid-1970s: Stryker Corporation has approximately 280 employees and is approaching $10 million in annual sales.
* 1976: Lee Stryker, his wife Nancy, and two family friends are killed in a plane crash in Wyoming.
* 1977: John W. Brown is hired as the new President and CEO of Stryker Corporation.
1977 - 1990s (The John Brown Era):
* 1979: Stryker Corporation goes public with an initial public offering (IPO) of stock.
* 1979: Stryker acquires Osteonics Corporation, entering the orthopedic implant market.
* 1980s: Stryker broadens its horizons, venturing into endoscopy and craniofacial implants (later with the acquisition of Leibinger in 1996).
* 1990s: Stryker's sales teams expand across the US, Europe, and Asia.
* 1998: Stryker makes a significant acquisition by purchasing Howmedica, the orthopedic division of Pfizer, for $1.65 billion, becoming a leading global orthopedics company.
* By the end of the 1990s: Stryker transforms into a multi-division corporation with sales exceeding $2 billion by 1999.
* 2000: Stryker is added to the S&P 500 stock index and the Forbes "Platinum 400" list.
2000s:
* 2003: John Brown steps down as CEO and is succeeded by Stephen P. MacMillan.
* Mid-2000s: Stryker continues to expand through acquisitions, including Surgical Dynamics (spine surgery), SpineCore (artificial disc technology), PlasmaSol (sterilization technology), and Sightline Technologies (flexible endoscopy).
* 2006: Stryker acquires eTrauma (surgical navigation software).
* 2009: Stryker acquires Ascent Healthcare, creating its Sustainability Solutions division for reprocessing medical devices.
* By 2010: Stryker's annual sales reach $7.3 billion, with approximately 17,000 employees globally.
* 2011: Stryker earns a spot on Fortune magazineâs â100 Best Companies to Work Forâ list for the first time.
2010s:
* 2011: Stryker acquires the Neurovascular Division of Boston Scientific.
* Late 2012: Kevin A. Lobo is appointed President and CEO of Stryker, succeeding Stephen MacMillan.
* 2013: Stryker acquires MAKO Surgical Corp., entering the field of robotic-arm assisted surgery.
* 2016: Stryker acquires Sage Products (infection prevention tools) and Physio-Control (defibrillators and emergency medical equipment).
* 2017: Stryker launches the MAKO Total Knee application.
* 2017: Stryker acquires Novadaq Technologies (fluorescence imaging).
* 2017: Fortune names Stryker to its list of the Worldâs Best Workplaces.
* 2018: Stryker acquires K2M Group Holdings (complex spinal surgery implants).
* End of 2010s: Stryker's revenue surpasses $14 billion, and its workforce grows to over 40,000 worldwide. Development of MAKO for spine and shoulder surgeries is underway.
2020 - 2025 (Recent Milestones and Innovations):
* Early 2020: During the COVID-19 pandemic, Stryker rapidly develops and produces the Emergency Relief Bed.
* 2020: Stryker finalises the acquisition of Wright Medical Group N.V. (extremities implants).
* 2021: Stryker acquires OrthoSensor (smart sensor technology for joint replacements).
* 2022: Stryker acquires Vocera Communications (hands-free communication badges and software for hospitals).
* 2022: Stryker introduces the Q Guidance System with Spine Guidance Software.
* 2023: Stryker introduces the Prostep MIS Lapidus system for bunion surgery.
* Late 2024: The first surgeries with a prototype Mako Spine robot are successfully completed.
* By 2025 (estimated): Over 150 million patients worldwide are treated each year with a Stryker product.
* By 2024: Stryker holds over 14,000 patents.
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Hologic is an American medical technology company primarily focused on women's health specializing in medical devices for diagnostics, surgery, and medical imaging.
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