Medical Device Industry News

  • Coors Announces New Medtech Component Firm

    The Coors family has been making ceramic subcomponents for medical equipment manufacturers and other companies for years. Now it has launched a business to develop and manufacture orthopedic medical implants and instruments, CoorsTek Medical.The family combined its existing medtech subcomponent development and manufacturing company, CoorsTek (Golden, CO), with its own cardiac implantable medtech manufacturer, C5 Medical Werks Inc., and Fort Worth, TX–based Innovation Medical Device Solutions (IMDS), which it bought in 2013.

  • Wright Medical Snatches Up Tornier in $3.3B Inversion Deal

    U.S. bone-implant maker Wright Medical Group Inc. will merge with orthopedic device-manufacturer Tornier N.V. in a $3.3 billion, all-stock transaction to create a new company based in the Netherlands.Wright’s existing shareholders will own 52% of the combined company, Wright Medical Group N.V. Wright’s U.S. headquarters, its lower extremities and biologics businesses will remain in Memphis, TN. Its president and CEO, Robert Palmisano, will assume the same titles in the combined company.

  • Is FDA Speeding Up Device Approvals? Yes and No.

    Are we there yet?That familiar plea from the back seat of the family car might well be coming from medtech manufacturers seeking device approvals from the FDA.According to a report titled Taking the Pulse of Medical Device Regulation and Innovation by the California Healthcare Initiative (CHI), the answer to that question is “not quite,” particularly when it comes to 510(k) reviews.

  • Medtronic to Pay Millions in Interest to Fund Covidien Deal

    Since Medtronic can’t dip into its considerable foreign cash reserves to buy Covidien, it plans to raise $16 billion domestically toward the $43 billion purchase. Wall Street is not pleased.

  • 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.