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Mergers: Commission fines General Electric €52 million for providing incorrect information in LM Wind takeover

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The European Commission has fined General Electric €52 million for providing incorrect information during the Commission’s investigation under the EU Merger Regulation of GE’s planned acquisition of LM Wind.

Commissioner Margrethe Vestager, in charge of competition policy, said: “Our merger assessment and decision-making can only be as good as the information that we obtain to support it. Accurate information is essential for the Commission to take competition decisions in full knowledge of the facts. The fine imposed today on General Electric is proof that the Commission takes breaches of the obligation for companies to provide us with correct information very seriously.

The EU Merger Regulation obliges companies in a merger investigation to provide correct and non misleading information. This is essential for the Commission to review mergers and takeovers in a timely and effective manner.

On 11 January 2017, GE notified its proposed acquisition of LM Wind. In this notification, GE stated that it did not have any higher power output wind turbine for offshore applications in development, beyond its existing 6 megawatt turbine. However, through information collected from a third party, the Commission found that GE was simultaneously offering a 12 megawatt offshore wind turbine to potential customers.

As a result on 2 February 2017, GE withdrew its notification of the acquisition of LM Wind. On 13 February 2017 GE re-notified the same transaction, this time including complete information on its future project. On 20 March 2017, the Commission approved the proposed acquisition.

On 6 July 2017, the Commission addressed a Statement of Objections to GE alleging that it had breached its procedural obligations under the Merger Regulation.

The Commission’s investigation has confirmed that, contrary to GE’s statements in its first notification in January 2017, GE had indeed been offering a higher power output offshore wind turbine to potential customers. As a result, GE’s statement in the notification form that it had no higher power output wind turbines for offshore in development is incorrect.

Today’s decision has no impact on the Commission’s approval of the transaction under EU merger rules, as this was based on rectified information from the second notification.

 

The fine

According to the Merger Regulation, the Commission can impose fines of up to 1% of the aggregated turnover of companies, which intentionally or negligently provide incorrect or misleading information to the Commission.

In setting the amount of a fine, the Commission takes into account the nature, the gravity and duration of the infringement, as well as any mitigating and aggravating circumstances.

GE committed an infringement by negligently providing incorrect information in the merger notification form. The Commission considers that this infringement is serious because it prevented it from having all relevant information for the assessment of the transaction.

Moreover, the Commission considers that GE, with whom it had continuous contacts during the merger review process, especially on the subject of GE’s pipeline products in this market, should have been aware of the relevance of the information for the Commission’s assessment, and of its obligations under the Merger Regulation. Therefore, GE’s breach of procedural obligations was a serious infringement.

On the basis of these factors, the Commission has concluded that an overall fine of €52 million is both deterrent and proportionate.

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Ex-Future Group Honcho Hemant Taware Joins Innoviti as Chief Business Officer

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Mr. Hemant Taware, Chief Business Officer - Merchant Ecosystem, Innoviti Payment Solutions Pvt. Ltd.

 

  • Leading payment solutions provider, Innoviti Payment Solutions announced the induction of former Future Group and Croma senior executive, Mr. Hemant Taware to its senior management team.
  • A retail industry veteran with over 25 years of diverse experience in Direct Sales, Marketing, and Operations across sectors like Food & Grocery, Apparel, CDIT & Telecom, Mr. Taware till recently was the Strategic Planning & Business Development Head at Future Group where he has been instrumental in orchestrating Change Management in their Design & Build function.
  • Prior to that Mr. Taware handled leadership roles at some of India’s marquee retail organizations such as Chief Operating Officer at HyperCITY Retail, Chief of Operations at Croma, Chief Operating Officer at The Mobile Store and General Manager at ABRL.
  • Mr. Taware’s appointment reaffirms Innoviti’s goal of building a world-class payments company by bringing senior talent from user industries to strengthen its expanding eco-system of payments linked value added services for retail merchants.
  • Across India Innoviti processes over US$ 5Bn of payments annually from over 1,000+ cities, with a throughput per point of acceptance of US$7000, 2X of India’s average (as per RBI data).  Innoviti’s payment solutions helps merchants, banks and brands influence commercial transactions happening in offline commerce more efficiently than possible otherwise, through an unconventional use of payment terminals.
  • Innoviti is backed by marquee investors including Bessemer Venture Partners, USA, FMO, Netherlands, SBI Venture Capital, Singapore and Catamaran, India.

Leading payment solutions provider, Innoviti Payment Solutions announced the induction of former Future Group and Croma senior executive, Mr. Hemant Taware to its senior management team. He is a retail industry veteran with over 25 years of diverse experience in Direct Sales, Marketing, and Operations across sectors like Food & Grocery, Apparel, CDIT & Telecom. Mr. Taware till recently was the Strategic Planning & Business Development Head at Future Group where he has been instrumental in orchestrating Change Management in their Design & Build function.

Prior to that, Mr. Taware handled leadership roles at some of India’s marquee retail organizations such as Chief Operating Officer at HyperCITY Retail, Chief of Operations at Croma, Chief Operating Officer at The Mobile Store and General Manager at ABRL. Mr. Taware’s appointment reaffirms Innoviti’s goal of building a world-class payments company by bringing senior talent from user industries to strengthen its expanding eco-system of payments linked value added services for retail merchants.

Mr. Hemant Taware, Chief Business Officer – Merchant Ecosystem, Innoviti said, “I’m very excited to be joining Innoviti’s team at a crucial time when the company is poised to aggressively grow its pioneering industry-leading software solutions in the digital payments space. Innoviti’s technologies have been at the forefront of setting new benchmarks for how retail businesses can extract more out of a payment transaction by adding intelligence to it. This is helping retail businesses transform their payment acceptance processing infrastructure into genuine drivers of business growth in today’s tough economic environment. I look forward to an exciting journey with Innoviti’s young and talented team.”

Across India, Innoviti processes over US$ 5Bn of payments annually from over 1000+ cities, with a throughput per point of acceptance of US$7000, 2X of India’s average (as per RBI data). Innoviti’s payment solutions helps merchants, banks and brands influence commercial transactions happening in offline commerce more efficiently than possible otherwise, through an unconventional use of payment terminals.

Innoviti is backed by marquee investors including Bessemer Venture Partners, USA, FMO, Netherlands, SBI Venture Capital, Singapore and Catamaran, India.

 

SOURCE Innoviti Payment Solutions Pvt. Ltd.

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Neurodiagnostics Market Worth $8.4 Billion by 2024 – Exclusive Report by MarketsandMarkets™

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According to the new market research report Neurodiagnostics Market by Product (Diagnostic & Imaging Systems (MRI, Ultrasound), Clinical Testing (PCR, NGS), Reagents & Consumables), Disease Pathology (Epilepsy, Stroke), End User, and Region – Global Forecast to 2024″, published by MarketsandMarkets™, the Neurodiagnostics Market is expected to reach USD 8.4 billion by 2024 from USD 5.9 billion in 2019, at a CAGR of 7.3%.

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https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=229090425

The demand for neurodiagnostic products is expected to grow mainly due to factors such as the increasing prevalence of neurological disorders & diseases, technological advancements, growing patient emphasis on effective & early disease diagnosis, the growing number of diagnostic centers & hospitals, and the use of biomarker profiling for disease diagnostics. These factors have prompted market players to improve and strengthen their current manufacturing and distribution capabilities—especially in emerging markets, which are expected to witness the highest growth.

The diagnostic imaging systems segment accounted for the largest share of the Neurodiagnostics Market, by product, in 2018.

Based on the product, the market is segmented into diagnostic imaging systems, clinical diagnostic instruments, and reagents and consumables. The diagnostic imaging systems segment accounted for the largest share of the market in 2018. The increasing incidence and prevalence of neurological disorders and growing R&D in the field of cerebral and spinal disorders are the major factors driving the growth of this segment.

Browse in-depth TOC on “Neurodiagnostics Market
189 – Tables
28 – Figures  
239 – Pages

The hospitals & surgical centers segment accounted for the largest share of the Neurodiagnostics Market, by end-user, in 2018

On the basis of end-user, the market is segmented into hospitals & surgical centers, diagnostic laboratories & imaging centers, neurology centers, ambulatory care centers (ACCs), and research laboratories & academic institutes.

In 2018, hospitals & surgical centers accounted for the largest share of the Neurodiagnostics Market, mainly due to the financial capabilities of hospitals to purchase expensive equipment, such as neurodiagnostic devices.

Get 10% Customization on this Research Report:
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North America accounted for the largest share of the Neurodiagnostics Market in 2018

North America accounted for the largest share of the market in 2018, followed by Europe. This can primarily be attributed to the presence of a highly developed healthcare system, high adoption of innovative neurodiagnostic devices among medical professionals, and the full availability of advanced neurodiagnostic devices.

Some of the prominent players in the Neurodiagnostics Market include GE Healthcare (US), Siemens Healthineers (Germany), Philips Healthcare (Netherlands), Hitachi, Ltd. (Japan), Canon, Inc. (Japan), Lifelines Neuro Company, LLC (US), Natus Medical Incorporated (US), Hoffman-La Roche AG (Switzerland), FUJIFILM Holdings Corporation (Japan), Mitsar Co., Ltd. (Russia), Advanced Brain Monitoring (US), Thermo Fisher Scientific, Inc. (US), Bio-Rad Laboratories (US), QIAGEN N.V. (Netherlands), Nihon Kohden Corporation (Japan), ANT Neuro (Netherlands), Fonar Corporation (US), Fujirebio (Japan), DRG Instruments GmbH (Germany), Tecan Trading AG (Switzerland), Motion Lab Systems, Inc. (US), Rigaku Corporation (Japan), Neusoft Medical Systems Co., Ltd. (US), ELMIKO MEDICAL Sp. Z o.o. (Poland) and Ridge Diagnostics (US).

Browse Adjacent Markets: Medical Devices Market Research Reports & Consulting

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Browse Related Reports:

Next-generation Sequencing Market by Product (NOVASEQ, NEXTSEQ, SEQUEL, NANOPORE), Consumables, Bioinformatics, Services (EXOME, RNA, DENOVO), Technology (ION, SMRT), Application (Diagnostics, Cancer), End User, Region – Global Forecast to 2025

Digital PCR (dPCR) and Real-time PCR (qPCR) Market by Product (Instruments, Reagents, Software, Services), Application (Clinical, Oncology, Forensics), End-user (Hospitals, Diagnostic Labs, Academia, Pharma-Biotech, CRO) – Global Forecast to 2024

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Global Surgical Robots Market Size was Estimated at USD 1190 Million in 2018, and is Expected to Grow USD 4270 Million by the end of 2025 at a CAGR of 20% | Valuates Reports™

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As technological advances is  all set to revolutionize healthcare in the years to come, the demand for surgical robots is expected to capture a significant portion of the growing medical industry.

There are several advantages of robotic surgery, resulting in increased hospital and outpatient surgical center adoption. Robotic surgery gives the surgeon many benefits such as an improved field of vision, superior flexibility and accessing inaccessible or hard-to-reach areas during surgery.

Surgical Robots average price is in the declining trend, from USD / Unit 1280 K in 2012 to USD / Unit 1250 K in 2016. The classification of surgical robots includes laparoscopy, orthopedics, and others, and the percentage of laparoscopy in 2016 is about 70 percent, and the percentage of orthopedics is about 20 percent in trend increase. Surgical robots are commonly used in the Minimal Invasive field of Open Surgery. The majority of Surgical Robots are in Minimal Invasive and the proportion of sales in 2016 is around 72%.

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Surgical robots have applications, among others, in general surgery, gynecological surgery, orthopedic surgery, cardiology, neurology. Of all the applications, the largest demand for surgical robotic systems, accessories and services was for general surgery followed by gynecological surgery. The gynecological surgical robots market is expected to experience the fastest growth during the forecast period as more and more surgeons are embracing surgical robots and gynecology services as robots have demonstrated their productivity and accuracy with less ill effects.

TRENDS INFLUENCING GLOBAL SURGICAL ROBOTS MARKET SHARE

  • Growing neurological disorders
  • Raising research and development activities
  • Raising geriatric population

View Full Report : https://reports.valuates.com/market-reports/QYRE-Auto-12131/global-surgical-robots-market

REGION WISE SURGICAL ROBOTS MARKET ANALYSIS

  • North America is the largest place of consumption, with a market share of almost 56 percent in 2016.
  • Europe is the second largest consumer place after North America, with a consumption market share of 20%. Competition in the market is intense

Inquire For Regional : https://reports.valuates.com/request/regional/QYRE-Auto-12131/Global_Surgical_Robots_Market

The objectives of this study are to define, segment, and project the size of the Surgical Robots market based on company, product type, end user and key regions.

This report studies the global market size of Surgical Robots in key regions like North AmericaEuropeAsia Pacific, Central & South America and Middle East & Africa, focuses on the consumption of Surgical Robots in these regions.

This research report categorizes the global Surgical Robots market by top players/brands, region, type and end user. This report also studies the global Surgical Robots market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels and distributors.

Key Competitors: the following manufacturers are covered in this report, with sales, revenue, market share for each company:

  • Intuitive Surgical
  • Stryker
  • Restoration Robotics
  • Medtech S.A
  • Mazor Robotics
  • THINK Surgical
  • Medrobotics
  • TransEnterix
  • Others

SURGICAL ROBOTS MARKET SIZE BY PRODUCTS

  • Laparoscopy
  • Orthopedics
  • Others

SURGICAL ROBOTS MARKET SIZE BY END USER

  • Open Surgery
  • Minimal Invasive

THE STUDY OBJECTIVES OF THIS REPORT ARE:

  • To study and analyze the global Surgical Robots market size (value & volume) by company, key regions, products and end user, breakdown data from 2014 to 2018, and forecast to 2025.
  • To understand the structure of Surgical Robots market by identifying its various subsegments.
  • To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
  • Focuses on the key global Surgical Robots companies, to define, describe and analyze the sales volume, value, market share, market competition landscape and recent development.
  • To project the value and sales volume of Surgical Robots submarkets, with respect to key regions.
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

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REPORTS COVERING SPECIFIC SUBSETS OF SURGICAL ROBOTS MARKET

1.  GLOBAL ORTHOPEDIC SURGICAL ROBOTS MARKET

In the orthopedic surgical industry, orthopedic medical robots have created a revolution. These machines allow the surgeons to perform the most accurate and efficient procedures. They are superior to traditional orthopedic techniques and are highly reliable. The orthopedic medical robots were increasingly adopted throughout the world in 2019.

The global market for Orthopedic Surgical Robots is estimated at US$ 985 million in 2018, growing at a CAGR of 12.28%  percent in 2019-2025.

VIew Full Report : https://reports.valuates.com/market-reports/QYRE-Auto-1T748/orthopedic-surgical-robots-market

Trends Influencing The Orthopedic Surgical Robots Market

  • Consistent advancements in the technology for orthopedic surgical robots.
  • Availability of orthopedic surgical robots across the globe.
  • Increase in government funding.
  • Raising investments by manufacturers for the development of orthopedic surgical robots

Region Wise Orthopedic Surgical Robots Market Analysis

  • North America holds the largest market share due to enhanced health care infrastructure, educated population and improved affordability, as well as increased acceptance of knee, hip and spine-related surgery robotic systems in the region.
  • Europe follows closely as there is a high percentage of the elderly population needing bone-related procedures.
  • Due to the growing population and a steep increase in injuries and drops in the area, Asia-Pacific is also seen as a good market for the orthopedic medical robots industry.

2.  GLOBAL LAPAROSCOPY SURGICAL ROBOTS MARKET

Among all types of surgical robots, laparoscopy surgical robots generate significant revenue.

The global market for Laparoscopy Surgical Robots is estimated at xx million dollars in 2017, reaching xx million dollars by the end of 2025, rising at a CAGR of xx percent in 2018-2025.

The global market is expected to expand steadily, primarily due to increasing applications of gynecological, cardiovascular, gastrointestinal, urological and ear / nose / throat (ENT) robotic solutions worldwide.

View Full Report : https://reports.valuates.com/market-reports/QYRE-Auto-1R747/laparoscopy-surgical-robots-market

Trends Influencing The Laparoscopy Surgical Robots Market Share

  • Increasing investment in research and development activities
  • Raise in geriatric population

3.  GLOBAL AI-BASED SURGICAL ROBOT MARKET

Today, surgeons around the world are using technological advances in artificial intelligence-enhanced surgical robotics devices to reduce the mortality rate associated with chronic disease. Rising awareness of public health and improved patient safety and regulation fuels market growth of the industry for AI-based surgical robots.

The global market for AI-based Surgical Robots is expected to reach xx million US$ in 2018 by the end of 2025, growing at a CAGR of xx% in 2019-2025.

View Full Report : https://reports.valuates.com/market-reports/QYRE-Auto-12F533/ai-based-surgical-robots-market

Services have the largest share of the AI-based surgical robot market in the consumer segment. High maintenance costs associated with robotic surgical system algorithms and updating routine equipment increase demand for service items.

Region Wise AI Based Surgical Robot Market Analysis

  • North America has a market share of 45 percent and is leading the market for AI-based surgical robots. Strong cooperation between healthcare organizations and robotic software companies are the major contributing factors related to their market dominance.
  • Europe is the second largest regional market with a 30 percent share as a result of strategic collaboration between academic research institutes and government-funded hospitals to develop machine learning programs for AI-based surgical robots.
  • Asia Pacific holds a market share of 15 percent due to the enormous patient base suffering from critical disease that needs surgical intervention and aggressive government policies to build well-equipped healthcare institutions with surgical robots.

4.  GLOBAL SPINAL SURGICAL ROBOTS MARKET

With the application of robotic technology to the second most commonly performed surgical procedure, spinal surgery, the global spinal surgical robot markets are poised to achieve significant growth. Spinal surgical robots improve the repeatability and accuracy of spinal surgery.

The global market for Spinal Surgical Robots is estimated at US$ 67 million in 2018, reaching US$ 470 million by the end of 2025, growing at a CAGR of 27.6% in 2019-2025.

View Full Report:

https://reports.valuates.com/market-reports/QYRE-Auto-X212/global-spinal-surgical-robots-market

Over the years, spinal surgery has evolved dramatically as advances in technology have enabled improvements in surgical techniques. Spinal surgery involves modifying the affected area of the back bones and nerves. It is a very delicate surgery to implant one or more screws or components. The robot can achieve better precision than can a skilled surgeon.

Trends Influencing The Global Spinal Surgical Robots Market Share

  • Aging population
  • Reductions in hospital costs due to decreased length of stay

 

SOURCE Valuates Reports

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