FDA issues Class 1 recall over Teleflex catheter kits | Contaminated shrimp supplied to US grocers | Omni Hotel systems disrupted by cyberattack

In today’s Portfolio Intelligence Daily, where we highlight under the radar investment themes and idiosyncratic company risks:?

• FDA issues Class 1 recall over Teleflex catheter kits
• Contaminated shrimp supplied to US grocers
• Omni Hotel systems disrupted by cyberattack

Auquan’s analyst team curates these summaries from our intelligence engine, which uses retrieval augmented generation (RAG AI) to uncover unique insights at scale, typically involving emerging markets, supply chains, financially-material ESG risks, and the impact of regulatory changes.

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FDA issues Class 1 recall over Teleflex catheter kits

FDA announces Class I recall of 330,000 Teleflex catheter kits due to increased resistance, causing 10 injuries and one death.

• FDA issues Class I recall for 330,000 Teleflex catheter kits due to increased resistance in guidewire.
• 10 injuries and one death reported, prompting urgent action from medical facilities and distributors.
• Teleflex advises immediate inventory checks and quarantine of affected products.
• Healthcare professionals and consumers urged to report adverse events to FDA's MedWatch system.

Select timeline

• April 3, 2024 | FDA announces recall of more than 300,000 catheter kits after 10 injuries, 1 death (Cardiovascular Business)
• April 3, 2024 | Class I Recall for 330,000 Radial Artery Catheterization Kits: FDA ?(TCTMD)
• April 3, 2024 | Teleflex and Arrow International Recall ARROW QuickFlash Radial Artery and Radial Artery/Arterial Line Catheterization Kits for Increased Resistance That May Lead to Vessel Injuries, Narrowing, or Blockage (FDA)

Choice Canning faces allegations of supplying contaminated shrimp to US grocers

Choice Canning, a supplier to major U.S. retailers, faces allegations of unsanitary practices and labor violations.

• The company disputes the accusations, maintaining a commitment to regulatory compliance and industry standards.
• Farinella's recordings and evidence cast a shadow on Choice Canning's operations, prompting investigations by lawmakers and retailers.
• Despite the company's denial of wrongdoing, scrutiny intensifies amid concerns about food safety and worker exploitation.
• Choice Canning's response underscores the broader challenges within the global seafood supply chain and the need for greater transparency and accountability.

Select timeline

• April 4, 2024 | Indian company sold contaminated shrimp to U.S. grocery stores, 'whistleblower' says (NBC)
• April 4, 2024 | Whistleblower alleges Indian company supplied tainted shrimp to U.S. grocery retailers (West Observer)
• April 4, 2024 | Whistleblower accuses Indian company of selling contaminated shrimp to U.S. grocery stores (Globe Echo)

Omni Hotel systems disrupted by cyberattack

Omni Hotels hit by cyberattack, causing 4-day IT shutdown. Customers face inconvenience with manual operations.

• Omni Hotels & Resorts suffered a cyberattack causing a four-day IT systems outage, disrupting bookings, payments, and door locks.
• Omni promptly shuts down its systems to contain the data breach, swiftly restoring most services.
• A four-day outage severely impacts operations, including reservations, room access, and POS systems.
• Customers recount inconvenience during the outage, citing delays in room access and manual check-ins. The inability to use card machines and access Wi-Fi exacerbates challenges for customers.

Select timeline

• April 4, 2024 | Cyberattack forces Omni Hotels to shut down its IT systems (CSO)
• April 3, 2024 | Cyberattack hits Omni Hotels systems, taking out bookings, payments, door locks (The Register)
• April 3, 2024 | Omni Hotels confirms cyberattack behind ongoing IT outage (Bleeping computer)

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