Welcome to Strib Biz Live, folks ...
Hope you have had a chance to check out the Strib’s new
series, “The Device Life: Medical technology expands to younger generations. Fascinating
how the use of medical devices has evolved so quickly. Once the last resort,
mostly for the elderly, the use of medical gadgets has expanded to reach other age
demographics in far-greater numbers:
Check out the part of the story that introduces Peter Quimby. The guy needs a heart
transplant, but thanks to the medical hardware that is attached to him, he is
doing insanity workouts six days a week. Oh yeah, his doctors say he should be
moving at the pace of a shuffle, but that’s just the not the way he lives.
Tough guy, for sure.
A few more links to business stories from Minnesota, the Upper Midwest and beyond:
Boomers drive boom in medical device sales – StarTribune
Small but surging share of Americans identify as “lower class” – Chicago Tribune
Lawrence Summers withdraws from Fed chairman consideration – Reuters
Felix Salmon is really happy about it – Felix Salmon
So, apparently are the markets – The Street
Williston puts the brakes on mobile businesses – Fargo Forum
The industry vs. government battle for the world’s best hackers – Rolling Stone
Chey Eisenman, the tweeting St. Paul cabdriver – Pioneer Press
Duluth Pack made in 1882 on sale for $66,023 – Duluth News Tribune
In case you are wondering, we need the extra help on retail coverage
right now because Strib retail reporter Thomas Lee is on leave through the end
of the year. Tom is writing a book on traditional retailers and the challenges
they face trying to remake themselves in the digital age. We expect him back in early
January. Good luck, Tom!
When and how did you start to realize that the medical device industry was being so greatly influenced by patients who don’t fit the picture we all have that these products are mainly for the elderly?I started noticing that many of the patients who I was hearing from regarding recalled or malfunctioning medical devices were in their 30s, 40s and 50s. And many of the patients who were getting new technology to treat other conditions, such as chronic migraines or movement disorders, also were younger than 60 – sometimes younger than 40. Once we got patient data from the federal government that confirmed that these anecdotes were actually part of a larger trend, we knew we had something.
How difficult was it to find younger patients to tell you their stories?It wasn’t difficult to find younger patients at all. Many of the patients I have written about over the past couple of years, unrelated to this project, were younger. I kept their contact information. Doctors and the device companies and even attorneys helped put us in touch with other, younger patients.
What’s ahead in the series in coming weeks?
Stories in the coming weeks will focus on the regulatory and safety issues involved with medical devices and concerns about device durability. They will also look at the difficult issue of how to best develop devices for children. And we will look at the evolution of technology from treating the heart, which was once the primary business of many of our large med tech companies, to treating other diseases in a wider range of patients.
Gov. Mark Dayton is urging the Vikings stadium authority to make sure the owners and team contribute "significant equity" to the project. He is worried that the Wilf family and team will finance most of its share of the $975 million project through personal seat license fees and a $200 million loan from the NFL.
As I noted below, stadium naming rights will bring in quite sum for the team as well.