News

Smith & Nephew CEO declines comment on Sanofi rumors, as it gains on Q3 earnings

Smith & Nephew officials stressed their plan to sell mid-tier orthopedics in emerging markets during the company's Q3 earnings call.

GI device player EndoChoice plans IPO for up to $150M

Endoscopy system maker EndoChoice is the latest in a series of planned big-ticket med tech IPOs. The startup reportedly plans to file for an IPO on Nasdaq to raise $100 million to $150 million and value the company at as much as $600 million.

Chinese government urges hospitals to buy local devices

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.

Mobile stroke unit, leadless cardiac pacemaker on Cleveland Clinic top 10 medical innovations list

For the 9th year running, Cleveland Clinic announced its list of top 10 medical innovations likely to make a substantial impact on improving patient care in the coming year.

Nintendo developing cloud-based sleep-monitoring device amid market growth

As med tech companies roll out innovative products to treat sleep disorders, electronics outfit Nintendo is looking to cash in on the trend with a new sleep-monitoring device that runs on its health-focused platform.

GE Healthcare opens first health tech incubator

GE Healthcare has opened its first health tech startup campus at its Finland headquarters in Helsinki. It's already home to 20 health tech startups working on wireless technologies, sensors, apps and cloud services to improve healthcare.

Rating agencies likely to cut Medtronic's credit rating due to looming merger with Covidien

Moody's Investors Service and Standard & Poor's Ratings Services are expected to downgrade Medtronic's debt due to the company's impending merger with Covidien. Under the new rules imposed by the Treasury Department, Medtronic will have to borrow $16.3 billion to fund the $43 billion transaction, as opposed to the initially planned $2.8 billion.

Abbott creates electrophysiology biz by moving in on a trio of NEA startups

Abbott has made its move on a trio of med tech startups focused on cardiovascular catheterization. It is buying electrophysiology startup Topera for $250 million plus undisclosed milestones and has secured the right to purchase Advanced Cardiac Therapeutics, which has a novel ablation catheter. Plus, Abbott Ventures participated in a venture round for VytronUS.

Startup from former Google exec rolls out mobile medical app for chronic disease management

As devicemakers turn their attention to a growing mobile health app market, a new startup is rolling out a product that helps patients manage chronic illnesses through a smartphone.

Proteus Digital Health exec raises fund for new stealth startup

Mousera, a healthcare startup focused on bringing current systems research up to speed with modern technology, raised $8.8 million from 9 investors.

J&J Innovation's Ken Drazan on the future of med tech

Ken Drazan, the head of Johnson & Johnson's California Innovation Center, sat down with FierceMedicalDevices to muse on the company's interest in med tech.

Medtronic announces first U.S. implant of investigational aortic heart valve

Medtronic announced that its investigational aortic heart valve made using cow heart tissue has been implanted in its first U.S. patient, as the global, five-year Perigon trial of 650 patients gathers steam. It will be conducted at 40 sites in Europe, the U.S. and Canada.

Google goes after nanotech-enabled disease detection

Google has dedicated more than 100 employees from multiple disciplines to making its vision of nanotechnology-enabled detection of cancer and other diseases a reality. Any tangible product resulting from this ambitious effort is at least 5 to 7 years away.

Welch Allyn partners with startup Gentag to create wearable devices

Established point-of-care diagnostics company Welch Allyn has partnered with wearables startup Gentag to develop medical devices that use wireless sensors.

Smith & Nephew scores a win in ongoing patent battle over suture technology

British orthopedics giant Smith & Nephew scored a win in its ongoing patent battle with rival Arthrex, as the U.S. Patent and Trademark Office ruled in favor of one of the company's patents for suture anchor technology.

HealthTrust commits to buying Infraredx coronary imaging tech

Infraredx, a medical device and diagnostic company specializing in coronary artery disease, partnered with HealthTrust, a group purchasing organization.

UPDATED: Dx company Alere sells its health services unit for $600M amid continued restructuring

Alere continued down the path of deleveraging and refocusing on its core competency in diagnostics with the sale of its Alere Health unit to Optum, a part of the insurance company UnitedHealth Group for $600 million.

IPOs: Sientra goes for $75M, while Nevro nerves up for $100M

Two ambitious med tech IPOs are slated to go out in the coming week or so. Both are on their IPO road shows now. Each has an impressive array of investors, high targeted IPO amounts and substantial potential company valuations.

UPDATED: Wright, Tornier merge in $3.3B inversion deal to create extremities and biologics pure play

Wright Medical Group plans to merge with peer Tornier in an all-stock transaction designed to create a pure-play orthopedics extremities and biologics company valued at $3.3 billion. The resulting entity is expected to be a midsized growth company that's in what it says are the three fastest growing areas of orthopedics--upper extremities, lower extremities and biologics.

Covidien says it's likely to divest some vascular assets due to Medtronic merger

Covidien conceded in an Oct. 24 filing with the federal Securities and Exchange Commission that it will likely divest some vascular assets so that the looming $43 billion mega merger with Medtronic can commence under antitrust law.