Medical devices

Health care profits explode

Illustration of a red cross and a pill bottle in a pile of money.
Illustration: Sarah Grillo/Axios

The health care industry continued to rake in record-level profits in the second quarter, with its year-over-year earnings increasing by 23%, according to an Axios analysis of 160 companies.

The bottom line: Pharmaceutical firms and hospitals, in particular, are reaping some of the largest rewards even amid the sustained public furor over drug prices and surprise medical bills.

FDA warns of bursting heart valve balloons

An image of a Sapien 3 heart valve attached to a thin balloon delivery system.
The Sapien 3 Ultra Delivery System. Photo: Edwards Lifesciences

Edwards Lifesciences is recalling almost 1,600 heart valve replacement systems after discovering balloons that are part of the device are rupturing inside the heart. The recall affects patients who have had surgery with the product since January.

Why it matters: One person has died and 17 others have been injured from the malfunctioning devices, according to the Food and Drug Administration. These types of heart valve products make up a majority of Edwards' $4 billion in sales.