December 17, 2025 07:17 PM GMT Thematic Alpha x US Public Policy | North America How Are Companies Mitigating Tariff Impacts? What We Learned From 3Q Earnings M We continue to expect an effective tariff rate of ~15% for the near term, but the Supreme Court's pending decision on the IEEPA tariffs could be a wildcard. The IEEPA tariffs being overturned would kick off a series of questions around tariff policy, namely 1) whether or not the President immediately replaces broad-based import tariffs with another ...

Core Insights - Hologic's AI-powered mammography solutions are gaining traction in clinical settings, particularly with the 3DQuorum technology, which enhances radiologists' workflows and maintains high cancer detection effectiveness [1] - The Genius AI Detection solution has demonstrated comparable performance to radiologists in identifying challenging breast cancer cases, with new data indicating its potential to increase cancer detection rates [1][9] Technology Performance - A study involving 7,500 digital breast tomosynthesis exams revealed that the Genius AI Detection solution flagged approximately 32% of false-negative mammograms, accurately identifying the location of breast cancer in one-third of these cases [2][3][9] - The AI technology successfully flagged nearly 90% of previously identified breast cancer cases by radiologists, showing a higher likelihood of detecting invasive ductal carcinomas and lymph node-positive cancers [4] Study Limitations - The study's findings may not be generalizable due to its single-center design, predominantly Caucasian patient population, and the use of a specific version of the AI software, which limits the applicability of results to other settings or algorithms [5] Industry Updates - GE Healthcare announced a contract to supply over 300 CT scanners to Indonesia, aiming to improve healthcare access for over 280 million people [6] - Becton, Dickinson and Company is expanding its diagnostic offerings in Europe, focusing on respiratory and STI diagnostics with new assays developed in partnership with Certest Biotec [7] Stock Performance and Valuation - Hologic's stock has increased by 10% over the past three months, outperforming the industry growth of 8.6% [8] - The company is currently trading at a forward five-year price-to-sales ratio of 3.86X, which is lower than the industry average of 4.36X [10]

点击免费限量礼盒 特别提示 微信机制调整，点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我 们的推送。 2025年9月，彭博社等媒体报道称"GE医疗正评估出售中国业务股份的可能性"，引发市场关 注。但GE医疗中国区及全球总部均迅速回应："我们不对市场传闻发表评论，但公司始终致力 于为中国病患和客户提供高品质的医疗服务。"，"中国作为全球最大的医疗保健市场之一，对 GE医疗具有重要的战略意义，我们不会放弃中国市场。" 日前，GE医疗通过 实际行动 印证了"不出售"的立场：2025年12月15日，GE医疗在天津启 用 磁共振东半球总部创新中心 （美国以外唯一的系统级磁共振研发基地），并宣布"未来5年 将在天津基地增加投入5亿元"，用于 高端磁共振设备的本土化研发与生产 。这一举措被视为 GE医疗"深耕中国市场"的关键信号。 尽管未出售业务，但GE医疗已根据中国市场变化，调整了在华战略重心，核心是 "精耕细作" ，具体举措包括： 裁员与组织优化：聚焦核心业务 研发投入：聚焦AI与数字化 GE医疗将 研发 作为在华战略的核心，2025年以来持续加大投入： 天津磁共振创新中心 ：202 ...

即使到了2025年，AI医疗依旧"红得发紫"。 从生成式AI、大模型等新一代AI技术在医疗健康/生命科学寻求临床价值验证到各类AI医疗健康/生命科学应用层出不穷，百花齐放……AI医疗健康/生命 科学创新实践在如火如荼开展的同时，市场规模也不断攀升。据甲子光年预测，2025年中国AI医疗市场规模将达到1157亿元，且预计2028年还将攀升至 1598亿元。 行业高速发展的同时，一个疑问也摆在了产业各方面前——当AI与医疗健康/生命科学的融合已然取得佳绩时，行业在未来会朝着哪些方向演进？ 为此，英伟达调研了600余位专业人士，并发布了《医疗健康和生命科学领域AI现状及2025年趋势》调研报告。 需要特别指出的是，为确保调研结果的客观性和完整性，这600余位受访对象不仅领域不同，职位也不尽相同。在领域方面，英伟达访谈了四类细分领域 的从业人员，即医疗技术、工具和诊断行业、数字医疗健康、制药和生物技术、方案购买方和方案提供方，完整涵盖了医疗健康/生命科学的产业链接。 此外，这600余位受访对象也涵盖了企业高管、临床医生、技术设备方案人员以及学术人员等，使得调研结果不仅客观完整，也丰富多元。 | 然而，由于所处行业及视 ...

健信超导扎根医用磁共振成像设备核心部件行业多年，形成了包括1.5T、3.0T及开放式零挥发超导磁体 和1.5T无液氦超导磁体在内丰富的产品矩阵，已成为全球排名第一的超导磁体独立供应商。 尊敬的各位嘉宾、各位投资者朋友： 大家好！ 非常感谢各位参加宁波健信超导科技股份有限公司首次公开发行股票并在上交所科创板上市网上投资者 交流活动。在此，我谨代表广发证券，向大家表示热烈的欢迎及衷心的感谢！ 作为健信超导本次发行上市的保荐人及主承销商，广发证券在与公司长期合作进程中，既见证其稳健快 速发展，亦深切体会到公司管理层具备的超前行业洞察力与深厚的从业经验。我们相信，以本次发行上 市为重要契机，健信超导必将在为国内企业提供更多超导技术国产方案的同时，努力开拓全球市场，开 启高质量发展新篇章。 在今天的网上交流中，我们将认真负责地回答各位投资者和各位朋友提出的问题，让大家能更全面、深 入地了解健信超导，把握投资机会，共享健信超导发展的硕果。欢迎大家踊跃提问，积极参与申购。 最后，预祝健信超导首次公开发行A股圆满成功！谢谢大家！ （文章来源：上海证券报） 在零挥发超导技术领域，公司追平了与国际巨头约20年的技术差距，并通过设 ...

路演嘉宾合影 健信超导：持续自主研发创新努力成为全球磁共振核心部件行业领导品牌 ——宁波健信超导科技股份有限公司首次公开发行股票并在科创板上市网上投资者交流会精彩回放 问：公司的主营业务是什么？ 许建益：公司主要从事医用磁共振成像（MRI）设备核心部件的研发、生产和销售，主要产品包括超导 磁体、永磁体和梯度线圈。公司以"让磁共振成为老百姓用得起的日常诊查手段"为使命，通过自主研发 和持续创新，推动磁共振技术迭代进步及推广普及。 出席嘉宾 宁波健信超导科技股份有限公司董事长许建益先生 宁波健信超导科技股份有限公司董事、总经理姚海锋先生 宁波健信超导科技股份有限公司董事、副总经理、董事会秘书许卉女士 宁波健信超导科技股份有限公司财务总监叶来刚先生 广发证券股份有限公司投行业务管理委员会委员、董事总经理袁海峰先生 广发证券股份有限公司保荐代表人周寅先生 广发证券股份有限公司保荐代表人王振先生 经营篇 问：请介绍公司的产品矩阵。 许建益：公司已形成包括1.5T零挥发超导磁体、1.5T无液氦超导磁体、3.0T零挥发超导磁体和开放式零 挥发超导磁体在内的丰富产品矩阵，成为全球排名第一的超导磁体独立供应商。在零挥发超导技术 ...

Key Takeaways Tempus AI is expanding its algorithms beyond oncology into pathology, radiology, cardiology and neuropsych.TEM secured two FDA 510(k) clearances for its cardiac imaging update and ECG-Low EF software. Tempus AI strengthened its platform by acquiring Arterys in 2022 and Paige's digital pathology dataset. Tempus AI (TEM) is developing and deploying a suite of advanced algorithms and diagnostic software that run on its multimodal data. These algorithms span beyond oncology, including digital path ...

Cooper Investors, an investment management firm, released its “Cooper Investors Global Equities Fund (Unhedged)” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund returned -0.04% in the third quarter, compared to a 6.42% return for the MSCI AC World Index Net Divs in Australian Dollars. However, the fund returned a rolling 12-month return of 18.0% post fees. Since the portfolio structure is primarily not correlated with the index, its returns should not move in line ...

智通财经APP注意到，企业正在趁着当前有利的条件，在交易甚至远未完成之前，就匆忙涌入债券市场 寻求廉价的并购融资。 数据显示，这使得本季度全球的并购融资规模达到1130亿美元，成为四年来规模最大的一个季度，也是 有记录以来最高的数字之一。仅上周的一天内，默沙东和通用电气医疗集团就合计筹集了92.5亿美元， 这两笔资金都是用于两周前才宣布的收购。 这些发售表明，在即将到来的2025年底，信贷情绪有多么强劲，企业利差接近历史最低水平，且资金持 续涌入。随着并购活动的复苏，以及对明年AI融资的巨额债务可能冲击市场的担忧，企业正在欧洲和 美洲争分夺秒地执行其融资计划。 Magnum冰淇淋公司的一位发言人称："信贷市场目前提供了极为有利的发债条件。因此公司决定加以 利用。"该公司在从联合利华分拆上市前筹集了30亿欧元。 裕信银行投资级企业银团主管克里斯蒂安.施内伯格表示："根据教科书，对于带有特殊并购赎回条款的 交易，你应该支付更多，如果你试图定价过紧，会遭到投资者的抵制。但当近期这些交易的需求水平像 现在这样高时，这一切都被抛诸脑后了。" Magnum在其债券中包含了一项条款，允许如果其分拆未能在明年年中最终确定，则 ...

Summary of the 2026 Hospital Outlook Survey Industry Overview - The survey focuses on the US healthcare industry, specifically the hospital sector, and provides insights into capital expenditures, utilization trends, and the impact of macroeconomic factors on hospital operations [1][2]. Key Insights Utilization Trends - **Utilization Growth Expectations**: 52% of hospital executives anticipate utilization growth in 2026 to be above 2025 levels, a decrease from 55% in the previous year [7][19]. - **Outpatient vs. Inpatient**: 56% expect outpatient utilization growth to exceed 2025 levels, while 41% expect inpatient utilization growth to increase, up from 34% last year [11][19]. - **Elective Procedures**: 54% expect elective procedures to grow above or in line with 2025 levels, down from 64% last year [16][19]. Capital Expenditures (CapEx) - **CapEx Growth**: Hospital capital spending is projected to increase by 4.1% in 2026, consistent with the 4.0% growth reported in 2025 [7][45]. - **Investment Priorities**: Hospitals are likely to increase spending on bedside patient monitoring, bedside pumps, and operating room (OR) suite equipment [16][45]. - **Impact of OBBBA**: The One Big Beautiful Bill Act (OBBBA) may lead to conservative spending due to anticipated reimbursement pressures [49][46]. Robotics and Technology - **Robotic Systems**: 96% of hospitals currently utilize surgical robotic systems, with Intuitive Surgical maintaining a leading position in soft-tissue robotics [90][91]. - **Orthopedic Robotics Demand**: 49% of respondents expect to purchase orthopedic robotic systems, with Stryker's MAKO being the most favored option [7][8]. - **IT Investments**: Hospitals are prioritizing IT investments, particularly in AI (66% expect to increase spending) and cybersecurity (65%) [80][81]. Value-Based Care (VBC) - **Revenue Tied to VBC**: The average revenue tied to VBC arrangements is approximately 19%, down from 22% last year, although interest in establishing VBC partnerships has increased [34][35]. Challenges and Concerns - **Reimbursement Pressure**: 34% of executives cite reimbursement pressure as the biggest challenge for hospitals in the coming year, an increase from 25% last year [58][59]. - **Labor Costs**: Labor cost inflation remains a significant concern, with 18% of respondents identifying it as a major challenge [58][59]. Future Outlook - **Purchasing Intentions**: Despite economic uncertainties, over 70% of hospitals plan to consider purchasing new equipment across various categories in the next two years [62][64]. - **Investment in ASCs**: 57% of respondents expect to increase investments in Ambulatory Surgery Centers (ASCs) over the next year, reflecting a shift towards outpatient care [18][19]. Additional Insights - **AI Utilization**: Hospitals are increasingly leveraging AI for tasks such as medical record analysis (56%) and clinical imaging analysis (52%), with larger hospitals showing a higher propensity to adopt these technologies [81][88]. - **Market Dynamics**: The survey indicates a stable payor mix for 2026, with commercial insurers and Medicare making up approximately 70% of the mix [12][27]. This comprehensive survey provides a detailed outlook on the hospital sector, highlighting trends in utilization, capital spending, and the evolving landscape of healthcare technology and reimbursement challenges.