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September 27, 2021

Coronavirus company news summary – Covid-19 test firm Cue Health goes public at nearly $2.5bn valuation – Study finds heart’s electrical activity may predict disease worsening

By Chloe Kent

Cue Health has debuted on the Nasdaq, going public at a valuation of approximately $2.5bn. Cue signed a $481m contract with the US Department of Defense in October 2020 to supply six million Covid-19 test kits and 30,000 readers. As of 31 August 2021, it has delivered over 115,000 readers and over five million cartridges. The company’s Covid-19 test kit consists of a swab, cartridge and reader. It provides results in about 20 minutes to a smartphone app and holds authorisation for emergency use in the US

Medical technology company SeaSpine says that the ongoing Covid-19 pandemic may negatively affect its total revenue for the third quarter of this year. The company now estimates mid-single-digit revenue growth in the third quarter compared to the year-ago period. In a Securities and Exchange Commission filing, the company stated that “ongoing uncertainty regarding the duration and severity of Covid-19 and/or staffing shortages on spine surgery procedure volumes throughout the US” are impacting its ability to confirm the previous revenue guidance for the fourth quarter and full-year.

A new study by Mount Sinai has shown that certain changes on electrocardiograms (EKGs) of hospitalised Covid-19 or influenza patients may forecast a period for worsening health and death, in turn allowing better monitoring and treatment. Shrinking waveforms on EKGs can aid in identifying high-risk patients, researchers added. Diminished waveforms on EKGs in Covid-19 patients could help avoid the possible exposure of more healthcare workers to the infection, as these tests can be carried out simultaneously with other bedside care.

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