The acquired company will remain intact, with the exception of its peripheral and neurovascular businesses. Covidien's peripheral business will join Medtronic's aortic and peripheral unit within Medtronic's cardiac and vascular group while the neurovascular business will become part of the restorative therapies group.
Smith & Nephew officials stressed their plan to sell midtier orthopedics in emerging markets during the company's Q3 earnings call, but many are wondering about rumors that CEO Olivier Bohuon is among the contenders in Sanofi's CEO search.
After the earnings call, he declined to comment to reporters on speculation he would head the Big Pharma company in the future, according to Bloomberg.
Johnson & Johnson sits right at the nexus of consumer, medical device, biopharma and diagnostic products. That makes it privy to some of the more interesting developments as these segments increasingly commingle and rely more on information technology and connectivity.
Ken Drazan, the head of Johnson & Johnson's Innovation Center in California, sat down with FierceMedicalDevices to muse on the company's interest in med tech. Its regionally focused Innovation Centers are aimed at sourcing early stage innovation and creating unique deals that bring together the resources of Johnson & Johnson, including venture investment from Johnson & Johnson Development Corporation (JJDC) and company incubation at J-Labs. The aim of the whole structure is to keep J&J plugged in to the latest developments--which could potentially provide deal fodder down the line.
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Unfortunately for foreign devicemakers, import substitution appears to be one of the means by which China intends to achieve its goal of creating 10 med tech breadwinners worth 5 billion yuan ($820 million) apiece by 2020.
Long plagued by suits over its metal-on-metal hip implants, Johnson & Johnson is weighing a $250 million settlement to resolve more claims that were not covered under an earlier accord.
The long-anticipated acquisition of Biomet by Zimmer Holdings is almost slated to close. The resulting entity will be known as Zimmer Biomet; it has already unveiled a planned new organizational structure and an executive team that draws heavily on the soon-to-be-incorporated Biomet. The deal to create this musculoskeletal giant is expected to close during the first quarter of 2015.
Making medical device prototypes using 3-D injection molding, rather than traditional aluminum molds, could reduce the costs and time associated with the product creation and iteration process. That's what major 3-D printer Stratasys is betting on with its new partnership with Worrell.
GreatCall, maker of mobile health and safety apps, is adding the AliveCor Heart Monitor for detecting atrial fibrillation to its offerings. Alivecor's electrocardiogram can now be mounted to back of the GreatCall3 smartphone and used with the AliveECG app.
Tech development company Allied Minds entered a licensing agreement with Columbia University to form Seamless Devices.
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U.K. researchers have hit upon a drug combination that appears to combat lung cancer by triggering self-destruction in tumor cells.
Amid efforts to counter the deadly Ebola outbreak, researchers and companies are homing in on rapid mobile tests as a more effective way to prevent the disease's spread.