COVID-19: PPP Loan Program Awarded Up To $1.6Bn To Medtech Firms
Medical device companies – including Sientra, Endologix and Invacare – won loans from the US government’s Paycheck Protection Program, intended to protect jobs during the coronavirus pandemic. In total, nearly 1,400 device makers collected as much as $1.6bn, according to a Medtech Insight analysis of PPP data.
You may also be interested in...
The government collected $2.68bn from settled False Claims Act cases last year, the US Department of Justice said. Another 12 device-related cases were announced in February alone.
News We’re Watching: Smart Watch Blood Glucose Warning, $100M For Women’s Health, Zimmer Surgical Robot Clearance
This week, the FDA reminded consumers that smart watches and rings are not blood glucose monitors; First Lady Jill Biden announced a $100M women’s health initiative; and the Zimmer ROSA Shoulder System got FDA clearance.
The document waives the annual registration fee for companies with gross sales below $1m that are currently going through bankruptcy.