News

FTC probes Wright, Tornier merger again, may push deal close into the second half

Wright Medical Group had expected to complete its acquisition of Tornier during the first half of this year. But now that is a "best case scenario," according to a statement from the company. The Federal Trade Commission has extended the waiting period until the deal close in order to give Tornier time to deal with the agency's concerns about its lower extremity products.

Alliqua BioMedical snatches up Celleration for $30.4M to expand wound-care offerings

Wound-care outfit Alliqua Medical shelled out $30.4 million for ultrasound therapy company Celleration, broadening its portfolio and gaining ground in regenerative medicine.

Feds set reimbursement targets, increasing government payments' impact on device world, M&A

Secretary of Health and Human Services Sylvia Burwell, incoming head of the federal Centers for Medicare & Medicaid Services, last week set explicit goals toward paying providers based on quality and not quantity, as the agency aims to put the fee-for-service model to sleep--permanently.

Medtronic partners with LHC to provide at-home, post-acute care patient monitoring services

Medtronic has partnered to provide patient monitoring to home health, hospice and comprehensive post-acute healthcare services LHC Group. The deal was done through its Cardiocom business, which already serves four out of the 5 largest U.S. home healthcare organizations.

With Covidien deal in the bag, Omar Ishrak urges Medtronic employees to stay focused on the company mission

In the wake of the closure of Medtronic's mega, nearly $50 billion purchase of Covidien, CEO Omar Ishrak announced that the company will give $10 to charity for every email he receives from an employee containing reflections on the company's mission to restore health, alleviate pain and extend life.

FDA clears 3-D printed device for minimally invasive foot surgery

Foot and ankle specialist MedShape announced FDA 510(k) clearance of its 3-D printed FastForward Bone Tether Plate, a surgical bolt that enables less-invasive foot surgery, which does not require drilling through bone.

Intuitive Surgical commits $1B for buyback, not M&A, as it works to bring robotics to general surgery

Intuitive Surgical is trying to make good on its launch in general surgery last spring, while expanding international sales. After selling off into the launch, investors bought back into the story late last year. But shares still haven't made it back to prelaunch highs of more than $540 per share.

U.K. set to kick off huge genome project with U.S. right behind

A U.K. project designed to analyze up to 100,000 entire human genomes is set to begin tomorrow with a similar project in the U.S. focused on more than 1 million people expected to be announced later this week.

UPDATED: Medtronic touts study results in support of its defibrillator tech

Medtronic announced new study results published in HeartRhythm that support the Smart Shock Technology used in its cardiac resynchronization therapy and implantable cardioverter defibrillators to avoid delivering unnecessary shocks to the heart.

Medical experts question procedures for peripheral artery disease amid Medicare payment surges

As the med tech industry homes in on next-generation devices for peripheral artery disease, medical experts are questioning the necessity of procedures to treat the disease, pointing to large Medicare payments made to physicians performing the operations.

President Obama unveils 'precision medicine' initiative to collect genomic data on 1 million Americans

President Obama's "precision medicine" initiative is aimed at collecting genetic data on 1 million Americans in a bid to advance personalized medicine.

Wall Street buys into third med tech IPO of the week: Avinger

Avinger raised $65 million in an IPO. That makes it the third med tech IPO for the week, after Entellus Medical and Presbia each priced initial offerings.

J&J to distribute Insuline diabetes device in Russia to stem flagging diabetes care sales

Johnson & Johnson is partnering with Insuline Medical to register and distribute the Israeli company's InsuPad for promoting optimal absorption of insulin in diabetics by warming their injection site.

Stomach-draining obesity startup gets $12M in debt to support PMA in mid-2015

Aspire Bariatrics has nabbed a $12 million loan facility from Hercules Technology Growth Capital to wrap up its ongoing U.S. pivotal trial and submit a PMA in mid-2015. The company hopes to launch its stomach content-aspirating product in the U.S. in early 2016.

China medical device market to top Japan to claim No. 2 spot globally

China's market for medical devices is expected to pass Japan's this year to become the world's second-largest, topped only by the United States. A consulting firm forecast China's market would pass the $55 billion mark this year.

Zeltiq gains as FDA clears fat-freezing applicator for lower temps, faster treatment

Zeltiq Aesthetics gained 4% after it said FDA cleared a new applicator that uses lower temperatures to cut the one-hour treatment time almost in half. Zeltiq's CoolSculpting procedure is cleared by FDA for noninvasive fat reduction in the abdomen, flank and thighs.

Roche and Qualcomm join forces for next-gen remote patient monitoring solution

Roche is teaming up with Qualcomm to develop a next-generation remote patient monitoring system, expanding its point-of-care offerings and giving the company a boost as it recoups from a mixed bag of 2014 earnings.

Zimmer CEO says Biomet merger to close soon and result in $270M of synergies

Zimmer CEO David Dvorak repeated his promises to close the company's looming $13 billion merger with Biomet by the end of the first quarter and keep all sales positions, during the company's Q4 2014 earnings call.

How should IBM's Jeopardy-winning Watson be regulated?

IBM's artificial intelligence tool Watson is an expert at Jeopardy, but it can't answer the question as to whether the technology should be regulated as a medical device. That decision rests with Congress and the FDA, or perhaps lobbyists.

Baxter edges closer to mid-2015 split into separate biopharma, medical product companies

This year will be a rocky one for Baxter International as it aims to spin out its biopharmaceuticals business by mid-year to focus more closely on its diabetes-driven medical products. The new biopharma company already has been named Baxalta and its executives have been disclosed. Baxter declined to offer 2015 guidance for either of the companies.