News

Owens & Minor falls hard as it discloses the $525M defection of major customer

Owens & Minor said that one of its major customers would not renew its existing distribution agreement. That customer represented a whopping $525 million in revenues for the company last year; the transition of the customer, an undisclosed national healthcare provider, is expected to start late in 2016.

Stealth robotic surgery player Auris to buy minimally invasive micro-cap Hansen for $80M

Auris Surgical Robotics said it will buy minimally invasive robotic surgery company Hansen Medical in a deal valued at about $80 million.

Alcon nabs option to buy PowerVision, as the startup bumps up Series D round to $40M

Beleaguered Novartis vision business Alcon is looking for a turnaround. It's been placing some bets on innovation to help it do so in the long term. Now, the vision care specialist has partnered with--and invested in--fluid intraocular lens implant company PowerVision. Alcon also gained an option to acquire the Belmont, CA-based startup as part of the deal.

Medtronic recalls battery pack used for patient monitoring devices

Medtronic is voluntarily recalling a battery pack used in some of its patient monitors due to a manufacturing defect, adding another piece of bad news to its recent string of woes.

Beyond miniaturization: What's next for leadless pacemakers? Closed-loop tech

The medical device industry has been working on miniaturizing pacemakers so they can be minimally invasively inserted and cause fewer difficulties for patients. Up next likely are closed-loop systems: pacemakers that record patient data, transmit that data externally and enable adjustment based on that data by physicians or even, eventually, on their own as guided by advanced algorithms.

J&J: Valuations 'still high' in med tech, as it seeks to execute on device restructure

Johnson & Johnson's medical device sales continued to slide in the first quarter, although the conglomerate, which announced a major medical device business restructuring early this year, was quick to underscore that this effort was on track and going well.

Cedars-Sinai researchers find Parkinson's disease wearable tracker useful to tailor treatment

The FDA approved the Personal KinetiGraph in late 2014. The wrist-worn device tracks the movements of Parkinson's disease patients every two minutes over anywhere from 6 to 10 days.

FDA approves upstart's drug-device combo to treat a degenerative eye disorder

Avedro won FDA approval for its Photrexa Viscous, Photrexa and KXL System to treat corneal collagen cross-linking for the treatment of progressive keratoconus.

California lawmaker calls on FDA to step up oversight amid duodenoscope fallout

Superbug outbreaks tied to duodenoscope devices have caused regulators to step up their oversight of the products. But one lawmaker wants the agency to go even further and is asking Congress to back his efforts.

European neurostim startup raises $41M to reverse paralysis from spinal cord injuries

G-Therapeutics raised €36 million ($41 million) in a Series A round and debt to finish developing and start clinical trials for its Implantable Neuro-stimulation System to restore lower limb function, including walking, to patients suffering from paralysis due to spinal cord injury.

Theranos slides deeper into the quicksand with federal criminal investigation

Things keep sliding down a slippery slope for Theranos, and now the beleaguered testing company is sinking even deeper. Federal prosecutors are launching a criminal investigation into Theranos, claiming that the company misled investors about its technology and operations.

IBM's big bet on Watson Health offers little return yet: $4B spent and 6K+ employees added in a year

IBM broke out Watson Health as a separate business unit more than a year ago. It's since poured in a ton of money, with at least four major acquisitions worth a total of $4 billion. Its latest, largest acquisition of Truven Health Analytics just closed last week.

Propeller Health zips ahead with smart inhaler tech with new deal in COPD

Propeller Health knows that M&A is key to staying ahead in a competitive smart inhaler environment, and the company recently added another deal to its slate. Propeller is teaming up with remote patient monitoring outfit AMC Health to roll out a program aimed at improving drug adherence for individuals with chronic obstructive pulmonary disease (COPD).

Philips, Elekta start to install MRI-guided linear accelerator for next-gen cancer imaging, treatment

Partners Royal Philips and Elekta have started installing a high-field, MRI-guided linear accelerator system at The Netherlands Cancer Institute in Amsterdam. The Institute is part of a consortium founded in 2012 by Elekta and Philips that's slated to make these sorts of systems, known as MR-linac, the standard of care for cancers that are not well controlled.

Canon gains Japanese distribution rights for Materialise 3-D printing medical software

The life sciences isn't a huge business for 3-D printing player Materialise--but it's working to change that. Its latest move is a deal with Canon Lifecare Solutions, a subsidiary of Canon Global, which will market Materialise 3-D printing to hospitals in Japan.

Fujitsu developing portable breath sensor in cancer; aims for 2018 launch

Japanese electronics players have long had a focus on med tech, with Canon recently doubling down in its $6 billion planned purchase of the imaging business from peer Toshiba. But despite being somewhat bogged down by legacy businesses--some are trying to stake a claim in innovative technology.

Theranos CEO opens up about lab transgressions, 'devastated' by the fallout

Theranos CEO Elizabeth Holmes has mostly stayed quiet during the company's fall from grace. But now, the beleaguered testing company's frontwoman is talking. In a Today Show interview with NBC special anchor Maria Shriver, Holmes opened up about Theranos' ongoing testing saga and its recent fallout with the Centers for Medicare and Medicaid Services.

Chinese TAVR player buys German third-gen peer, aims for global market after $37M from Goldman Sachs

Venus Medtech aims to have the first transcatheter aortic valve implantation system cleared by the China Food and Drug Administration (CFDA). It also has a transcatheter pulmonic valve that is finishing clinical trials, which would also be a first for the CFDA.

Fitbit faces cost and regulatory obstacles as it races into med tech: Analyst

Fitbit wants to move toward med tech and away from consumer-facing products, following in the footsteps of some of its big-name peers such as Apple. But the fitness wearables company could face some cost and regulatory hurdles along the way, according to some analysts.

Proteus raises $50M to market its medication adherence system

Proteus Digital Health is a getting a bit long in the tooth for venture capital. It's just raised a $50 million Series H financing--that's pretty deep into the alphabet and brings its total raised to more than $220 million.