COVID-19: US Auto Giant General Motors Wants To Make Ventilators, Trump Says; Ford And Tesla Also Express Interest
President Trump said on 20 March that GM wants to manufacture ventilators, a medical device that’s in high demand as the US health care system prepares for an onslaught of patients infected by the novel coronavirus. Fellow auto manufacturers Ford Motor Co. and Tesla Inc. also say they’re willing to make the complex products.
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Wall Street Tries To Guess The Impact Of Pandemic On Medtech Revenues
As the pandemic unfolds with an uncertain outcome, US securities analysts that cover publicly traded medtech companies are developing mathematical models to estimate the impact of the COVID-19 pandemic on medtech companies.
GM Partners With Ventec Life Systems To Make Ventilators
American auto giant General Motors Co. announced late on 20 March that it has teamed up with Seattle-based Ventec Life Systems to manufacture much-needed medical ventilators as the US braces for a strained health care system from COVID-19.
‘We’re Not Making Hubcaps’: Why Trump’s Wartime Approach To Manufacturing Medtech For COVID-19 Is Making Industry Sweat
Two Hogan Lovells attorneys say the medical device industry is jittery about President Trump’s 18 March invocation of the Defense Production Act. That’s because the DPA gives the government broad authority to, among other things, order manufacturers to make particular products in a time of great national need. That can be a problem if those companies can’t make complex products like ventilators – or don’t make devices in the first place. After all, “we’re not making hubcaps. We’re making important devices,” Hogan Lovells partner Mike Heyl tells Medtech Insight.