Teva lands a new Chief Executive
Israeli based pharmaceutical company Teva has been searching for a new Chief Executive since February. However, it seems the search is finally over.
It has recently been announced that Kare Schultz has been appointed as Teva Pharmaceuticals new Chief Executive, becoming the second non-Israeli to provide significant leadership in order to ensure Teva remains competitive and can overcome current challenges.
He takes over from previous Chief Executive Erez Vigodman and Yitzhak Peterburg.
The healthcare sector is currently undergoing a significant transformation, with increased digitisation, falling drug prices and need to further the brand’s expansion. Since the death of previous Chief Executive, Eli Hurvitz in 2011, the company has fought to overcome its struggles, but many individuals have not adopted the tenacity needed within the role.
- Mobile health technologies are growing apace
- Liquid biopsy company ANGLE partners with Qiagen
- Apollo Hospitals opens a new geriatric clinic as a result of India’s ageing population
Teva’s shares have been under significant pressure amongst new competitors which have hit the market. Schultz’s appointment with restore the company’s credibility, especially with potential investors and has seen share prices rise as the news broke.
Schultz’s move to Israel will showcase his commitment to the company, where he will create a new strategy in which to move the company forward, as well as look at Teva’s $35 billion debt which it acquired through the purchase of Allergan’s generic business.
To counteract this financial instability, the company has recently sold its women’s health unit , alongside its contraceptive brand Paraguard to Cooper Cos for $1.1 billion.
With 30 years in the pharmaceutical business, Schultz has worked at Novo Nordisk A/S and H. Lundbeck A/S, overseeing the company’s operations and leading Lundbeck A/S to success through restructuring the business in order for it to remain financially stable.
Zoom enters the healthcare market - a timeline
Since the pandemic began Zoom has become an integral part of daily life for people working from home, as well as a vital tool for families and friends to communicate. However it's also been eyeing up the healthcare space since 2017, and following the boom in telehealth the company has been rolling out additional services. Here we chart Zoom's move into healthcare.
2011 - 2013
Zoom is founded in San Jose, California, by Eric Yuan, formerly of Cisco. He got the idea to create a video calling platform from his visits to his girlfriend while he was a student, which would take 10 hours by train.
A beta version is released in 2012, which can host up to 15 participants. In 2013 this rises to 25. By mid-2013, Zoom has 1 million users.
2014 - 2017
Zoom attracts investors, including Sequoia Capital, Emergence and Horizon Ventures. By January 2017, Zoom has a series D funding worth $100 million.
2017 - 2019
Zoom for Telehealth launches, including an integration with EHR system Epic. It has cloud-based video, audio, and content sharing features, a "waiting room" for patients, and can easily be integrated into healthcare provider's workflows.
In 2019 Zoom goes public, with its IPO rising 72% in one day.
As a result of the pandemic, Zoom gains 2.2 million new users, more than in the whole of 2019. On the 23rd of March alone - the day the UK lockdown was announced - the platform was downloaded 2.13 million times around the world.
Share prices rise to around $150, and founder and chief executive Eric Yuan becomes one of the world's richest people, with an estimated net worth of $7.9 billion.
Early security issues are addressed by encrypting data with the Advanced Encryption Standard (AES). By now the the platform allows 99 people to be on a call simultaneously
New features launch, including Zoom Home and Zoom for Chats. Throughout the year the platform is used to replace most kinds of real life events: work meetings, online classrooms, church services and social events.
Renamed Zoom for Healthcare, users can share secured video, audio, and content through desktops, mobile phones, and conference devices. As well as Epic, it can be integrated with Strmr, IntakeQ, and Practice Better.
It can also be used with diagnostic cameras and other point-of-care devices, including digital stethoscopes.
In an interview with Korea Biomedical Review, Zoom Global Healthcare Lead Ron Emerson said: "Our service is not simply a virtual care and telemedicine platform but a multi-purpose platform that can satisfy the needs of healthcare institutions."
"It can be used for administrative tasks, including telemedicine, medical team meetings, recruitment, medical education, employee training, and disease prevention. Analysing electronic records managed by Zoom could provide meaningful insights into patient care."
Phoenix Children's Hospital, Belfast's Hospital Services Limited, Butler Health Services and the global Project ECHO are among Zoom for Healthcare's current customers.