Medical Device Industry News

  • How Wearables Could Change the Life Sciences and Medtech

    Despite the hype, wearables are poised to make good on their promise to have substantial influence on society and business, according to a new report from PwC. Consumers seem to be excited by the potential of wearables, regardless of the fact that just only one in five people in the United States owns a wearable, and only one in ten uses the technology daily, according to a PwC survey of 1000 consumers carried out in summer of 2014.

  • Engineer Accused of Stealing Secrets from Boston Scientific

    A former Boston Scientific engineer allegedly stole trade secrets about balloon catheters from his employer, with plans to form a company in Vietnam to manufacture and sell his own version. This is at least the third time in recent months that a medtech engineer has gotten in trouble for potentially stealing trade secrets from a major medical device company. 

  • Zimmer Accused of Destroying Evidence in Lawsuit

    Plaintiffs suing Zimmer Holdings Inc. have filed a motion in federal court claiming that the company destroyed or lost 5500 of its Durom metal-on-metal hip implants.

  • Medtech Engineer Gets 18 Months for Stealing Trade Secrets

    A federal judge in New Jersey has sentenced medtech engineer Ketankumar Maniar to 18 months in prison for stealing trade secrets from former employers C.R. Bard Inc. and Becton, Dickinson and Co.

  • Agilent Cutting 300 Jobs, Exiting NMR Business

    In its latest move to better focus on life sciences, diagnostics, and applied markets, Agilent Technologies has announced it will shutter its nuclear magnetic resonance business. The move will cost 300 jobs.

  • Is ConvaTec About to Get Sold?

    Rumors that ConvaTec is preparing to sell itself have erupted again, with sources telling Reuters that the Luxembourg-based company has appointed Goldman Sachs and Morgan Stanley to explore the possibility. The company may be worth up to $10 billion, the story said.

  • Plot Thickens in Insider Trading Case Involving Former AdvaMed Chair

    Former Baltimore Orioles player Doug DeCinces is denying he knew that the former head of a California medtech company would benefit from allegedly sharing insider trading information about the impending sale of the company, according to published reports. 

  • Has Medtech Funding Hit Rock Bottom?

    News out of the major U.S. medical device hub of Minnesota raises more questions about whether the funding slump has really ended. Fewer Minnesota medtech companies are raising money, and they’ve been commanding a smaller share of the life science funding pie of late, according to LifeScience Alley, a trade group of medical device and pharmaceutical firms.

  • Steris to Buy Synergy Health in $1.9 Billion Inversion Deal

    Steris Corp., an infection control products and services company, plans to move its official headquarters from Ohio to the United Kingdom through a $1.9 billion dollar acquisition of Synergy Health. The planned merger, announced Monday, is but another example of the tax-saving inversion deals that have been causing consternation among progressive U.S. politicians including President Barack Obama, who has said such companies “avoid paying their fair share in taxes here at home."

  • Who Will Be the 10 Largest Cardiovascular Companies in 2020?

    Medtronic is poised to be the leading cardiovascular company over the next six years, according to a report from research firm EvaluateMedTech. With projected global sales of $11.1billion in 2020, the company would have a wide lead over the firm with the second biggest cardio business, St. Jude Medical. Rounding out the top five firms, both at present and in 2020, according to the research, are Boston Scientific, Abbott Laboratories, and Edwards Lifesciences.