News

Foundation Medicine ditches plans to raise $150M

The bearish market that led Lombard Medical to delay its IPO and TriVascular Technologies to price below its range has scuttled a fundraise from diagnostics luminary Foundation Medicine.

Convergent Dental pockets $8M for 'dread-free' laser

Dental equipment company Convergent Dental says dentists should use its Solea laser to practice "dread-free dentistry," and it now has an additional $8 million in funding thanks to venture capital firm Long River Ventures and other individual investors.

Edwards CEO speaks out in patent battle with Medtronic

Edwards Lifesciences is determined to have the last word in its ongoing patent feud with Medtronic over the companies' transcatheter aortic valve replacement (TAVR) products. CEO Mike Mussallem wrote a letter to customers and partners on Wednesday, offering the company's take on the recent legal proceedings and reassuring patients that they would still have access to life-saving therapies.

Endo's AMS hit with an FDA warning letter

As if the more than $500 million fallout from lawsuits regarding its vaginal mesh devices weren't bad enough, American Medical Systems must now deal with an FDA warning letter on its process validation, risk analysis, and corrective and preventative action procedures at its Minnetonka, MN, facility.

Report: Surgical device maker Conmed shopping itself around

Surgical device maker Conmed ($CNMD) is said to be putting itself up for sale, ostensibly to avoid trouble from activist shareholders at its annual meeting later this year.

ForSight Vision5 ropes in $15M in Series C financing to develop its intraocular therapy

ForSight Vision5 raised $15 million in a Series C financing and completed enrollment of a Phase II clinical study to support the development of its noninvasive ocular implant therapy for eye diseases.

 

Abbott's device sales slip as diagnostics keeps revenue rolling

Abbott Laboratories posted another quarterly decline in medical device revenue, but its fast-growing diagnostics business came through yet again.

TriVascular pockets $78M in a scaled-down IPO

Medical device outfit TriVascular Technologies picked up $78 million as it made its Wall Street debut Wednesday, pricing below its expected range amid a prolonged slump for life sciences stocks.

St. Jude rides strong ICD sales to a first-quarter bump

Despite long-running headwinds, St. Jude Medical pulled off an increase in implanted defibrillator revenue in the first quarter, helping the company swing to a small rise in sales.

Boston Scientific scores FDA approval for a new crop of implantable cardiac devices

Boston Scientific won FDA approval for a new crop of implantable defibrillators and heart failure devices, helping the company move forward with sales and development of its cardiac rhythm management system.

Cardiac Dimensions raises $20M for heart valve expansion in Europe, Australia

 

Cardiac Dimensions, a privately held medical device company focused on mitral valve repair, raised $20 million in a new round of private equity financing to support expansion in European and Austrailain markets.

 

Qiagen puts up $10M to boost its diagnostics manufacturing

Molecular diagnostics company Qiagen will invest $10 million to build out manufacturing capabilities at its Germantown, MD, campus by early 2015, focusing on products for women's health and infectious disease.

Flat sales mask busy quarter for J&J med tech biz

At $7.1 billion in revenue, the balance sheet shows no changes in quarterly sales at Johnson & Johnson's medical devices and diagnostics division, but the unit experienced shifts of other sorts during the first quarter of 2014.

GE Healthcare looks to extend its M&A streak

GE Healthcare has been no stranger to dealmaking over the past year, and the company's CEO said it has no plans to let up.

Med tech VC Santé wraps up a $139M healthcare fund

Santé Ventures, a prominent funder of many device startups, heaped another $9 million onto its $130 million second healthcare fund, according to an SEC filing, recruiting a new investor as it looks for promising med tech companies.

Devices approved for pediatric use weren't tested in children first, new study finds

As the pediatric medical device sector grows, lawmakers are pushing for the development of innovative products that can treat younger patients and address an unmet need. But most devices that were recently approved for pediatric use were not tested on children first, Reuters reported. 

 

TransEnterix raises $50M for surgical robot

TransEnterix, a medical device company focused on flexible instruments and robotics, priced a $50 million stock offering as its shares began trading on the New York Stock Exchange today.

Medtronic strikes back in its TAVR patent battle with Edwards

Medtronic is striking back in its latest battle with competitor Edwards over patents for the companies' transcatheter aortic valve replacement products. The company filed an emergency motion in a U.S. Circuit Court of Appeals to prevent an injunction against its CoreValve system from going into effect.

Abbott's diabetes biz hit with its third Class I recall in a year

Add two more Abbott Laboratories diabetes products to the list of items deemed potentially deadly by the FDA. Five of the company's diabetes offerings have now been subject to the agency's most serious recall label in the past year.

Covidien snags FDA OK for a camera-equipped feeding tube

Covidien is gearing up to launch its Kangaroo feeding tube in the U.S. after picking up FDA clearance for the device, which is outfitted with a camera that provides real-time images to physicians.