Medical Device Industry News

  • Smith & Nephew Plans Job Cuts, Plant Closure

    Smith & Nephew plc has figuratively yanked the job-security bandage off 108 employees at its St. Petersburg, FL, wound-care plant. The company plans to close the factory and lay the workers off by January 9, according to a report in the Tampa Bay Times. Their work will shift to another plant in Fort Worth, TX, the newspaper said.

  • Boston Sci Could Pay $26M over Pelvic Mesh Case

    A federal jury in Miami has concluded that Boston Scientific Corp. (BSX) must pay a total of $26.7 million to four women who claimed the company’s Pinnacle pelvic inserts injured them. The jury found that company officials had designed their Pinnacle pelvic-organ implants improperly and failed to warn physicians and their patients of the risks, an attorney for one of the women said in an interview with Bloomberg News.

  • 3 Reasons Medtech Will Be Slow to Evolve

    Consumer health tracking devices such as Fitbit are making waves, as is the Affordable Care Act in the United States. But when it comes to technology creating revolutionary advances involving health providers, it is a different story.

  • St. Jude Heart Sensor Cuts Readmission Rate in Study

    A miniaturized heart-failure monitor recently acquired by St. Jude Medical (St. Paul, MN) from an Atlanta-based startup named CardioMEMS reduced 30-day hospital readmission rates for patients over 65, according to an analysis of the company’s Champion trial.

  • Allergan to Sell for $66B in Biggest M&A Deal of 2014

    Irvine, CA–based Allergan has been adamant in fighting off a hostile takeover attempt from Valeant Pharmaceuticals International for the past seven months. But Allergan has apparently struck a deal with another pharmaceutical firm—Actavis (Dublin, Ireland)—which is prepared to pay $219 per share, or $66 billion for Allergan, which makes everything from tissue expanders and silicone breast implants to Botox.The deal helped propel the Dow and S&P 500 to record highs on November 8 and contributed to a 2.1% increase in the Nasdaq biotech index. 

  • Zimmer Extends Review of Proposed Biomet Merger

    Zimmer Holdings Inc. (ZMH) has agreed to extend the European Commission’s review of its pending $13.4-billion merger with Biomet, Inc. “by a limited number of days,” according to a statement to Zimmer investors.Zimmer said it agreed to the extension “in order to provide the EC with certain additional information.” The company did not disclose the length of the extension or the type of information it would provide to the EU.

  • Abbott Downsizes California Plant

    Abbott Laboratories (ABT) is ending 2014 the same way it started the year—with layoffs.Abbott Vascular laid off 100 employees at its Temecula, CA, plant last week. The plant, which makes stents, dilation catheters, and other cardiac devices, now has 1700 employees, according to Abbott spokesperson Steve Kelly. That’s down from a high of 4,000, according to a report in the Riverside Press Enterprise.

  • This Devices Could Reduce Needle Sticks for Children

    Eric Stone vividly remembers the pain and anxiety of receiving multiple needle sticks when he was hospitalized as a child with Crohn’s disease. Stone has gone on to co-found a company that has invented a needle-free blood draw device. The device would reduce pediatric patients’ needle sticks to the one that allows insertion of patients’ ubiquitous IV.

  • Blood-Filtering Ebola Device Ready for Testing

    A new Ebola treatment device known as the Aethlon Hemopurifier is scheduled to begin U.S. clinical trials by the end of this year, after receiving the green light for trials from the FDA. The device received significant backing following news of a German patient suffering from Ebola that was declared free of the virus, and on the road to a complete recovery.

  • Nokia Sensing XChallenge Has a Winner

    The team that developed a handheld device that can provide hundreds of diagnostic values from a single drop of blood has won the Nokia Sensing XChallenge.