Stryker Corp.’s (NYSE:SYK) orthopedics division cut distribution ties with Corin Group plc (LON:CRG), citing changing market opportunities and changing ownership of Stryker’s metal-on-metal hip device manufacturer. Stryker began distributing Cirencester, U.K.-based Corin’s Cormet hip resurfacing device in the U.S. after it won FDA approval in 2007. “Distribution of a hip resurfacing device no longer fits […]
St. Jude Medical Inc. (NYSE:STJ) announced today that it won U.S. Food & Drug Administration clearance for its Epiducer lead delivery system for neurostimulation in treatment of chronic pain. The clearance is the first of its kind for the U.S. The device allows physicians to place multiple neurostimulation leads and different types of leads through […]
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Stryker Corp. (NYSE:SYK) inked new deals for its joint preservation arm and its interventional spine division this week. The Kalamazoo, Mich.-based company added its inflatable vertebral augmentation system (iVAS) to its national agreement with supply contracting company Novation LLC. The deal makes Stryker the single source for balloon-assisted spine augmentation for health care groups UHC, […]
Medtronic (NYSE:MDT) may have to manage potential legal headaches regarding its controversial Infuse bone growth product, but for two Infuse researchers in the world of academia with starkly contrasting views, the battle has become intensely personal. MinnPost is reporting that one orthopedic surgeon who authored some of the Infuse studies that have been publicly criticized […]
Stryker Corp. (NYSE:SYK) is fielding legal challenges on two fronts, one from a former distributor and DePuy Spine and another from a Utah man claiming a Stryker pain pump destroyed his shoulder. DePuy and BioInitiatives Inc., a former Stryker Spine distributor, asked a California judge for an injunction barring Stryker from enforcing a non-competition clause […]
Medtronic (NYSE:MDT) announced Thursday that it is acquiring Salient Surgical Technologies and Peak Surgical for a cumulative $620 million. The Minnesota maker of new innovative medical devices said that both the acquisitions will boost its surgical products portfolio. Medtronic’s surgical technologies revenue of $298 million grew 7 percent in the fourth fiscal quarter. After adjusting […]
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A Wall Street analyst is speculating that Medtronic’s (NYSE:MDT) woes over its blockbuster Infuse product might lead the medical device company to pull the plug on the entire spinal business. But given the problems the spine division has, it’s not clear whether there will be any takers. Wells Fargo analyst Larry Biegelsen downgraded Medtronic’s stock […]
Medtronic (NYSE:MDT) announced Friday that it has launched a new spinal surgery product in Europe aimed at patients with poor bone quality such as those suffering from osteoporosis. The maker of new innovative medical devices said that the CD Horizon Fenestrated Screw Spinal System is “intended to help provide immobilization and stabilization of spinal segments […]
Shares of Medtronic Inc. (NYSE:MDT) stock recovered following a week of high-profile publicity around the company’s Infuse bone morphogenetic protein and a Spine Journal issue dedicated to problems with 13 studies by MDT-sponsored physicians. MDT shares were trading at $38.95 in mid-day activity today, about even with their June 27 open of $38.20 (but down […]
Medtronic (NYSE:MDT) has licensed a compound for spinal cord and traumatic brain injury that could net the Minnesota-based maker of new innovative medical devices up to $35 million before commercialization. New York’s Acorda Therapeutics (NASDAQ:ACOR) said it paid an initial $3 million for the compound, a proprietary magnesium formulation called AC105. It would pay Medtronic […]
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Medtronic Inc. (NYSE: MDT) CEO Omar Ishrak isn’t wasting any time in responding to articles that were published in the Spine Journal about the company’s controversial bone graft product Infuse. The New York Times reported Tuesday that a group of spine specialists alleged that researchers who have been compensated by Medtronic have not reported the […]
Medtronic Inc. (NYSE:MDT) faces new heat over the Infuse bone growth product, this time for allegations that the therapy caused excess bone growth in the spinal canal of 70 percent of patients in an independent clinical trial. In what has become a familiar cry against the Infuse product, doctors on the company’s payroll were accused […]
A Twin Cities knee braces manufacturer is seeking $3 million, according to a recent regulatory filing. OrthoCor Medical, which makes orthopedics medical devices like the company’s Active Knee System, has already raised $1 million of the $3 million it is looking to raise in two weeks, said president and CEO John Dinusson in a phone […]
Through an innovative partnership with an Israeli technology incubator, Akron venture capital firm Everett Partners is hoping to bring several medical device firms’ U.S. headquarters to Northeast Ohio. While no startups from the Targatech Innovation Center in Netanya, Israel have set up shop in Akron yet, that could change as soon as the next few […]
Michael Mogul, the head of Stryker Corp.’s (NYSE:SYK) $4-billion-plus orthopedics division, is off to greener pastures: The corner office at DJO Global Inc. Mogul, 46, was with Stryker for most of his professional life. He joined the Kalamazoo, Mich.-based medical device giant in 1989 when he was just 24 years old and worked his way […]