Short vendor calls out Clover Health. Hindenburg Research, a brief vendor that describes itself as a specialist in forensic monetary analysis, published a report criticizing Clover Health’s enterprise and alleging that the Medicare Advantage insurtech firm has not disclosed lively investigations by the Department of Justice.
Hindenburg – which mentioned that it doesn’t have positions for or towards Clover – criticized the corporate and stakeholding enterprise capitalist Chamath Palihapitiya’s hyperbolic conduct through the run-up to its SPAC.
It argued that lots of their claims have been deceptive or outright false, primarily based on interviews the quick vendor carried out with former staff, rivals, docs utilizing Clover’s software program and different sources, equivalent to authorities experiences and insurance coverage filings.
Per the report, Clover is actively underneath investigation for “at least 12 issues ranging from kickbacks to marketing practices to undisclosed third-party deals” that haven’t been made public. It additionally cites a number of former staff alleging that roughly two-thirds of the corporate’s gross sales “are fueled by a major undisclosed relationship between Clover and an outside brokerage firm controlled by Clover’s head of sales.”
Since the report went stay this morning, Clover’s shares have fallen about 11%, as of the time of publication. Clover has informed information publications that it will likely be issuing an announcement responding to the report someday right now.
High in fats, low in information privateness. Elektra Labs, a startup that seeks to trace and curate linked well being applied sciences through a catalogue-like digital platform, introduced this week that it has partnered with Carnegie Mellon University researchers to develop and standardize a “tech nutrition label” for linked well being sensors.
The concept is that these merchandise would every be given a label just like these required for meals merchandise, however as an alternative would give attention to how the sensor handles information rights and safety, the way it has been verified or validated, the worth, and normal usability in regard to battery life or waterproof scores, Dena Mendelsohn, director of well being coverage and information governance at Elektra Labs, mentioned in a blog post. This venture would start with Elektra’s current catalogue of greater than a thousand biosensors and, as such, will take time to implement and replace, she wrote.
“People must be able to make informed decisions when it comes to technologies that interface with their health data,” Yuvraj Agarwal, an affiliate professor of pc science affiliated with Carnagie Mellon’s CyLab and Institute for Software Research, who served as a college advisor to the analysis workforce, mentioned in an announcement.
“We believe that IoT privacy and security labels can be very effective in empowering consumers to make more informed decisions by providing transparency about product manufacturers’ stated practices.”
FDA asks for more information on Nanox’s 510(okay). “Digital X-ray” startup Nanox filed a document with the SEC this week that mentioned it has obtained extra info requests from the FDA relating to the continued 510(okay) submission for its single-source Nanox.ARC product. These requests require Nanox “to address certain deficiencies and questions, including requests that the Company provide additional support regarding the intended use of the Nanox.ARC and the comparability of the Nanox.ARC to the predicate device,” in accordance with the submitting.
Nanox mentioned that it plans to reply rapidly to the FDA’s requests, and expects to submit a further 510(okay) earlier than the top of the yr for its multiple-source Nanox.ARC and accompanying Nanox.CLOUD. Assuming FDA clearance, Nanox mentioned it is aiming for an preliminary 1,000 system shipments by the top of Q1 2022.
ECG for rent. Belfast-based biometrics firm B-Secur has obtained a 510(okay) clearance for its HeartKey software program library, a set of ECG algorithms which can be out there for integration with semiconductors throughout a variety of wellness or health-monitoring units. Per the corporate’s announcement, the software program combines person identification with the power to detect sign conditioning, coronary heart charge and evaluation of a number of arrhythmias. That well being sign evaluation that may be run both on the system itself, inside an software layer, or on a cloud community, the corporate mentioned.
“HeartKey has been developed to enable scalability of medical grade EKG/ECG across IoT devices, and the award of FDA clearance is testament to HeartKey’s performance and the very talented team behind it,” Adrian Condon, CTO at B-Secur, mentioned in an announcement. “This clearance should significantly aid our partners and customers [to] increase the speed to market for their technology.”