Say hello to MassDevice +5, a bite-sized view of the top five medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 5 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
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5. Organogenesis skins up $30m for expansion
Organogenesis said yesterday that it raised $30 million from existing investors to back its expansion plans.
Canton, Mass.-based Organogenesis makes a line of regenerative medicine products designed to heal wounds. The company said it plans to use the proceeds to expand its sales force and commercial operations and to widen the reach of its PuraPly collagen matrix. Some of the cash will go toward new wound care and surgical product development, the company said. Read more
4. St. Jude Medical holds on to win in poaching spat with Biosense Webster
St. Jude Medical hung on to a win over Johnson & Johnson subsidiary Biosense Webster after a federal appeals court found that Biosense and the rep, Jose de Castro, breached the terms of his contract with St. Jude.
Originally a field technician for St. Jude, de Castro was promoted in 2009 to sales rep, signing a 3-year contract in 2011, according to court documents. Later that year, Biosense began courting de Castro, hoping his defection would also bring Sequoia Hospital’s business. Biosense offered to cover de Castro for any repercussions from breaking his deal with St. Jude; a day after he signed on with that company in February 2012, Biosense filed for declaratory judgment to invalidate the St. Jude contract, according to the documents. Read more
3. Direct Flow Medical raises $31m for heart valve programs
Direct Flow Medical said it raised nearly $31 million in a Series C funding round it hopes will eventually gross nearly $60 million.
The company is developing transcatheter replacements for the aortic and mitral heart valves. Direct Flow’s transcatheter aortic valve implant won CE Mark approval in the European Union in January 2013; enrollment is under way in a 1,000-patient U.S. pivotal trial of the device. Read more
2. Smith & Nephew shareholders shoot down $3m bonus for executives
Smith & Nephew shareholders yesterday shot down the company’s plan to award $3 million in bonuses to a group of 60 top executives.
The British healthcare giant’s remuneration committee approved the £2.1 million bonus award based on the 80% absolute return the company posted over the past 3 years, which beat the FTSE 100 index’s 20% return over that period. Read more
1. An unheralded story of medtech success – How Sapheon went from an idea on the back of a napkin to a $240 million exit to Covidien
Welcome to the Medsider interview series, a special new feature at MassDevice, which will appear regularly. All interviews are conducted by Scott Nelson, Founder of Medsider and Partnership Lead at Touch Surgery. We hope you enjoy them!
I’ll be candid. This is an interview I’ve wanted to do for quite some time. Read more
The post MassDevice.com +5 | The top 5 medtech stories for April 15, 2016 appeared first on MassDevice.
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