News

Greatbatch spins off neurostimulation unit to speed up growth

Texas-based medical device manufacturer Greatbatch is spinning off its neurostimulation unit, Algostim, as the company looks to beef up one of its core businesses and snag a bigger piece of a growing neurostimulation market.

Neuromodulation, electroceuticals, biomarkers make the top 12 list of most transformative neuro tech

Research hospital-based healthcare system Partners HealthCare disclosed the top 12 technologies it thinks could revolutionize neurological and psychiatric care in the next decade.

Femasys raises $10.2M in Series B for female sterilization device trial and to market diagnostic tools

Women's health startup Femasys has raised $10.2 million in a Series B round. The financing will go to support pivotal testing for its FemBloc non-surgical female sterilization device and to marketing the company's two commercial diagnostics tools, one for female infertility and the other for cervical cancer.

St. Jude gets FDA approval for tiniest MRI-compatible, upgradeable, spinal-cord pain neurostimulator

The FDA has approved the Protégé MRI spinal cord stimulation system to treat chronic pain, along with the related MRI compatible leads, from St. Jude Medical. The device also offers the benefit of enabling future updates via wireless software upgrades rather than requiring its replacement to gain the benefits of new developments.

Researchers reveal 3-D printed airway splint for infants

As 3-D printing picks up steam within the industry, U.S. researchers have harnessed the technology to develop a device that treats infants with a life-threatening airway condition and changes shape as children age.

Boston Sci courts hospitals with a pair of deals to boost patient outcomes and lower costs

In medical devices, it's all about offering value to hospitals as they continue to undergo consolidation in the U.S., thereby enabling them to wield greater buying power. To demonstrate its commitment to addressing that trend, Boston Scientific has added a couple of partnerships intended to improve the usability and value of its products: one with cardiovascular consultancy MedAxiom and another with healthcare data analytics company TogetherMD.

Harvard point-of-care handheld cancer diagnostic spinoff WaveGuide raises $13.9M

Startup WaveGuide has raised $13.9 million of an intended ultimate total of $20 million to fund its point-of-care handheld nuclear magnetic resonance (NMR) spectrometer that works with nanoparticles for the diagnosis of cancer and infectious diseases, according to an SEC filing. This is its first filing with the financial regulatory agency.

Italy's Sorin Group touts studies showing its sutureless aortic valve is better than TAVRs

The Sorin Group touted multiple studies that found that the company's sutureless surgical aortic valve replacement is superior to transcatheter aortic valve replacements. The new information comes amid growing debate within the cardiology community about which treatment paradigm is better in intermediate-risk patients.

Cable player Cox makes its third med tech investment, in diabetes management

Everybody wants a bite of the med tech apple, including cable company Cox Communications. Its broadband communications and entertainment division announced an investment in Rimidi and its Diabetes+Me cloud-based platform for diabetes management.

Kleiner Perkins backs Rapid Micro Biosystems in $25M round for microbial detection in quality control

Startup Rapid Micro Biosystems has raised a $25 million Series C round to support its commercial efforts to protect pharmaceutical and personal-care products and medical devices from microbial contamination.

Kaiser backs startup in $12.5M round to speed healthcare data integration

Validic, the maker of a cloud-based data management system connecting information gathered from medical devices, apps and wearables to end-users like hospitals, insurers and Big Pharma, announced the receipt of $12.5 million in a Series B funding round led by Kaiser Permanente Ventures, the insurance provider's VC arm.

Philips ramping up CT scan production following €100M quality improvement plan at Cleveland facility

Philips expects to ramp up production of CT scanners at its troubled Cleveland manufacturing facility and return to previous production levels by the end of the year, following a €100 million ($1.1 million) quality improvement plan initiated last year, company officials said during its Q1 2015 earnings call.

NuVasive gains on $14M DOJ settlement over improper Medicare, Medicaid claims

Minimally invasive spinal surgery player NuVasive was up 4% in early trading on the news that it has reached a settlement with the U.S. Department of Justice regarding a subpoena dating back to 2013. The company has agreed to pay $13.8 million, including fees, to resolve the matter.

France's Labco looks to make market entree with €545M IPO

French medical diagnostics outfit Labco is planning to launch a €545 million ($598 million) initial public offering, weeks after the company unveiled its IPO ambitions to reduce debt and generate cash for new acquisitions.

Olympus opens surgical innovation center in Minnesota after recent 'superbug' setbacks

Olympus is plowing ahead on its medical device strategy, opening a new surgical innovation center in Brooklyn Park, MN. The move comes despite the company's recent problems with difficult-to-clean duodenoscopes that are resulting in the spread of antibiotic-resistant bacteria that can cause disease and even death among some patients.

UPDATED: Stealth Foundry grad Twelve racks up $35M for percutaneous mitral valve replacement

Supersecret mitral valve startup Twelve has raised $35.2 million, bringing its total raised via equity to $70 million. It's going to need that cash to support a recently divulged clinical trial for its Twelve Transcatheter Mitral Valve Replacement System. Without a website and no press releases, the company has done its best so far to remain hush-hush.

Device to assist orthopedic rehab patients wins wearable device challenge

A wearable device for giving feedback during rehab exercises, dubbed 4G-PT, is the winner of the recent Wearables in Healthcare Pilot Challenge.

Micro-cap Lombard gets $26M debt facility to back launch of FDA-approved endovascular stent graft

Investors were pleased that micro-cap Lombard Medical was able to secure a $26 million term loan facility with Oxford Finance, sending shares up 7% in early trading on the April 28 financing news. Lombard is in need of some good news; its share price has only dwindled since it raised $55 million in an IPO almost exactly a year ago.

Developer looks to monetize the first FDA-cleared app for monitoring progression of eye diseases

Vital Art and Science is building on the first FDA-cleared ophthalmic app with the introduction of its mVT Service. It enables physician monitoring of patient performance on the app, which tests for age-related macular degeneration and diabetic retinopathy.

Boston Sci partners with Brainlab, as revenue outlook goes flat and legal costs weigh

Boston Scientific is looking determinedly toward the future with a new partnership with deep brain stimulation player Brainlab and positive data for its peripheral artery disease drug-eluting stent. But the past keeps weighing upon it as litigation costs pile up from vaginal mesh lawsuits and the recent settlement with Johnson & Johnson over the long-standing Guidant dispute.