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GP Week : Issue 231
With Red Bull yet to confirm if it will have an engine for 2016, Bernie ecclestone has revealed the FIA is set to announce a tender as it searches for an independent engine supplier for 2017. Under the current regulations only Mercedes, Renault, Ferrari and latterly Honda have produced power units, leaving teams to sign a deal with one of them in order to compete. With Red Bull having torched bridges with current partner Renault, along with Mercedes and Ferrari having refused supply and Ron Dennis preventing a deal with Honda, it has highlighted just how much power the engine manufacturers currently wield in the sport. In an effort to solve the problem, Ecclestone claims the sport's governing body is looking to source an independent engine provider, along the lines of the ser vice Cosworth used to offer, to provide teams with an affordable alternative to the Big Four. "The FIA will put out a press release on Monday or Tuesday," Ecclestone said to reporters in Austin. "They will probably have more power and use more fuel. It means, I suppose, that there would be regulation changes, which have already been anticipated for 2017 so there's nothing new." Such a solution however has not met with universal approval as some claim it will lead to a two-tiered championship. It's a view Ecclestone dismisses. "We used to have people running turbo engines and people running normally aspirated engines," he explained. "That wasn't a two-tier system, it was a choice. Whatever it is, I anticipate they will continue running their engine and the others the other engine." Aside from their unwillingness to supply engines to competitors – which is why Ferrari and Mercedes have declined Red Bull's requests – the cost of the current units is also a concern. It's something Ecclestone concedes he has no control over but points to that as a major stumbling block for teams and the sport heading into the future. "It's nothing to do with us what people charge,” Ecclestone explained, denying the tender was a ploy to try and have the existing manufacturers reduce the costs of their engines. "We have no control, and don't want it. They can charge what they like. What is being introduced will be an awful lot cheaper than what it currently costs. "There's a couple of interested parties on the horizon." Jean Boulle Medtech Ltd, a Jean Boulle Group medical technology company and founding investor of Tendyne Holdings, Inc, is pleased to announce that Abbott Laboratories has closed its acquisition of Tendyne. Abbott thereby acquires the remaining shares of Tendyne that it does not already own for US$250 million plus potential future payments tied to regulatory milestones. This acquisition culminates a relationship that began when Jean Boulle Medtech welcomed Abbott as an early strategic investor in Tendyne. Jean Boulle Medtech worked with Tendyne's most recent investor, Apple Tree Partners, in helping to complete the transaction. Tendyne has developed a heart valve specifically designed to address the complex mitral anatomy of functional, degenerative and mixed etiology mitral regurgitation – a disorder in which the mitral valve on the left side of the heart does not close properly. Left untreated, mitral regurgitation can lead to heart failure and death. Many millions of people, in the United States alone, will benefit from mitral valve replacement. The Tendyne mitral valve is literally placed inside a beating heart via a transcatheter and does not require open-heart surgery. There is therefore no need to stop the heart beating, as has been the case up till now. A catheter enters the bottom of the heart through a small tube inserted in a small incision in the patient’s chest. The physician uses the tube to deploy the valve and positions it so that it rests over the heart's existing mitral valve. It is then anchored securely in place by an adjustable tether. The valve is fully retrievable, totally repositionable and is sewn onto a Nitinol frame. Nitinol is a superelastic nickel and titanium "shape memory alloy" whose flexibility eases implantation, but regains its original shape when it returns to a patient’s normal body temperature. The Tendyne valve’s nickel/titanium alloy composition is derived from a corporate history of making major discoveries which Tendyne has in common with three other Jean Boulle Group Companies. The first founded Diamond Fields Resources, Inc, and discovered one of the world's largest and richest nickel deposits in Voisey's Bay, Canada. The second founded Titanium Resources Group Ltd and restarted and rediscovered one the world's largest and richest titanium mines in Sierra Leone. The third, World Titanium Resources discovered and is developing one of the world’s largest and highest- grade titanium deposits, in South Western Madagascar. The Tendyne valve is currently undergoing clinical trials in the United States, Great Britain and Australia as part of a multi- centre global feasibility study on the safety and performance of the Tendyne valve in patients with symptomatic mitral regurgitation of degenerative or functional etiology, some of whose medical conditions would otherwise make them inoperable. Initial patient results have been positive with most, if not all, patients having no mitral valve regurgitation after being discharged from hospital within a few days of surgery. The Tendyne valve has been successfully implanted in patients at such internationally renowned medical institutions as the Royal Brompton Hospital in London, England; St Vincent's Hospital in Sydney, Australia; and The Minneapolis Heart Center at Abbott Northwestern Hospital in Minneapolis, Minnesota. Other prestigious medical institutions in the expanding universe of Tendyne clinical trials include Baylor Heart and Vascular Center, Dallas, Texas; Cleveland Clinic Foundation, Cleveland, Ohio; St. Francis Hospital, Roslyn, New York; and Oslo University Hospital, Oslo, Norway. Members of Tendyne's Medical Advisory team include : Mark Gillinov MD, The Cleveland Clinic Heart Center; Paul Grayburn MD, Baylor Jack and Jane Hamilton Heart and Vascular Hospital; Lucian Lozonschi MD, Associate Professor of Cardiac Surgery, University of Wisconsin School of Medicine and Public Health; Georg Lutter MD, University of Kiel, Eduardo de Marchena MD, Professor of Medicine and Surgery and Associate Dean for International Medicine, University of Miami Health System; Mark Reisman MD, Clinical Professor of Medicine, University of Washington; Murat Tuzcu MD, The Cleveland Clinic; and Horst Sievert MD. Jean Boulle Medtech is a subsidiary of the medical division of the Jean Boulle Group of Companies. This division invests in medical technology and includes companies such as Jean Boulle Medtech (Ocudyne) Ltd., which is the founding investor in a project exploring the cause of, and a cure for, aged-related macular degeneration, a leading cause of blindness around the world. moRE inFoRmaTion: Jean Boulle Group Ms Audrey Richardson email@example.com WEB: jeanboullegroup.com or Wayne Malouf, in Dallas, Texas Ph: +1 214 691 9000 firstname.lastname@example.org Jean Boulle Group – Us$250m + Abbott Laboratories Acquisition of Tendyne Holdings 11 GPWEEK.com // 11 GPWEEK.com // PARTNERS: F1 >>> news ENGINES A TENDER TOPIc