The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
GE Healthcare signed two new deals that will expand its footprint in the radiotherapy and diagnostics market in China and offer mass spectrometry support in North America. GE signed a memorandum of understanding with Beijing-based Concord Medical Services Holdings Ltd., which operates the largest network of radiotherapy and diagnostic imaging centers in China. They will […]
Massachusetts Senator and GOP presidential hopeful Scott Brown told Covidien plc (NYSE:COV) employees that the impending medical device tax was “a wet blanket over the industry” when he toured the med-tech giant’s headquarters in Mansfield, Mass., yesterday. An active challenger of the impending medical device tax, Brown’s latest legislation aimed at repealing the bill was […]
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
A Maryland hospital paid $1.8 million to settle allegations that senior leadership failed to properly address complaints of unnecessary stenting lodged against former cardiologist Dr. John McLean. McLean was convicted of health care fraud last month over insurance claims he filed on unnecessary stents implanted in Medicare and Medicaid patients. McLean was also charged with […]
Covidien Plc.’s (NYSE:COV) board of directors approved a $2 billion stock repurchase program today. “The board’s approval of this share repurchase program reflects its confidence in the continued growth of Covidien’s business, our sustainable free cash flow and our commitment to enhance shareholder value,” president & CEO José Almeida said in a press release. The […]
Medtronic Inc. (NYSE:MDT) isn’t in an uproar over recent reports of a hacked insulin pump that could discretely deliver dangerous doses of insulin to a wearer. “To our knowledge, there has never been a single reported incident outside of controlled laboratory experiments in more than 30 years of device telemetry use, which includes millions of […]
Boston Scientific Corp. (NYSE:BSX) plans to spend $37 million on overseas research and development, this time at its R&D facility in Clonmel, Ireland. The Natick, Mass.-based company hopes to jump-start development of a next generation cardiac rhythm management system. The funding is partially supported by a grant from IDA Ireland, a quasi-public investment promotion agency, […]
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
Abbott Laboratories (NYSE:ABT) and Boston Scientific Corp. (NYSE:BSX) came out as the big players in the U.S. drug-eluting stent market, together staking claim to more than half of all DES revenues. In 2010, Boston Scientific reported $1.5 billion in DES sales and held a 33 percent market share in the U.S., led by its Taxus […]
British orthopedic giant Smith & Nephew plc (NYSE:SNN) announced an ambitious plan to realign the entire company to focus growth on the emerging markets of Brazil, Russia, India and China, while creating a more streamlined operation in its existing markets. Bouhon said the moves will be made with the intention of growing the company’s sales […]
St. Jude Medical Inc. (NYSE:STJ) and Illumina Inc. (NSDQ:ILMN) both announced share repurchase programs this week after reporting second quarter earnings. St. Paul, Minn.-based St. Jude’s board of directors authorized up to $500 million to repurchase shares, which will be made available for general corporate purposes and for offsetting dilution associated with employee benefit plans. […]
Medtronic Inc. (NYSE:MDT) is deepening its commitment to GI Dynamics Inc. by participating in a private placement concurrent with the Lexington, Mass.-based company’s initial public offering in Australia next week. The Minneapolis, Minn.-based medical device giant, which has already invested $15 million in the company, has signaled its intention to be a part of a […]
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Covidien Plc. (NYSE:COV) will likely beef up its overseas workforce, CEO Joe Almeida told attendees at a Boston meeting of medical device executives today. “Slightly less than half of our revenues come from outside the U.S., so we need more people in places like the UK and Singapore,” Almeida said. Almeida insisted that the jobs […]
Lawmakers from the North Star State are falling in line to oppose one of the key findings of the Institute of Medicine’s recent report on the FDA’s 510(k) premarket notification. Sens Amy Kloubechar (D-Minn.), Al Franken (D-Minn.) and Rep. Erik Paulsen (R-Minn) issued a joint statement saying that they rejected the IOM’s finding that the […]
FDA officials are expressing concern over the slow pace of user fee negotiations with the medical device industry, saying that the parties need to come together to hammer out the framework of a deal by the end of the month in order to meet a January 15, 2012, deadline to submit the plan to Congress. […]
The FDA released a notice yesterday announcing updated, withdrawn and modified standards that the agency will use in reviewing premarket applications for a variety of medical devices. The standards can be used to support 510(k) applications by demonstrating “reasonable assurance of safety and/or effectiveness for many applicable aspects of medical devices.” Far from ditching the […]
The shakeup at Boston Scientific (NYSE:BSX) last week proved that while the sheriff may be headed for the sunset, he’s not ready to hang up his spurs just yet. With little more than a month past his two year anniversary of taking the helm at BSX, J. Raymond Elliott continues to re-shape the Natick, Mass.-based […]