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.
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.
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 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.
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 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.
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.
Mousera, a healthcare startup focused on bringing current systems research up to speed with modern technology, raised $8.8 million from 9 investors.
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 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 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.
Established point-of-care diagnostics company Welch Allyn has partnered with wearables startup Gentag to develop medical devices that use wireless sensors.
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.
Infraredx, a medical device and diagnostic company specializing in coronary artery disease, partnered with HealthTrust, a group purchasing organization.
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.
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 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.
The U.S. Food and Drug Administration has given a temporary thumbs up to Ebola test FilmArray BioThreat-E from BioFire Defense, a bioMérieux company. The test offers results in one hour rather than the one to two days required by existing methods.
St. Jude Medical snagged FDA approval for its next-generation ablation catheter for atrial fibrillation, bolstering the company's presence in a growing electrophysiology market and strengthening its footprint in the cardiac rhythm management sector.