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. GI Windows releases 6-month data on self-assembling magnet diabetes device
GI Windows said 6-month data from a small study of its incisionless anastomosis system showed the safety and efficacy of the device, which uses self-assembling magnets delivered via endoscope to create an opening between loops of the small bowel.
West Bridgwater, Mass.-based GI Windows said the device is designed to allow a portion of ingested food to move from the beginning of the small bowel to its end. Two endoscopes deploy the magnets in the proximal and distal ends of the small bowel, where they assemble into a pair of rings that are then coupled, trapping a portion of the the bowel walls to create an opening. Once anastomosis is achieved, the magnets release and are expelled naturally, GI Windows said. Read more
4. New GI Dynamics CEO Schorer looks to reboot EndoBarrier
New GI Dynamics CEO Scott Schorer is looking to reboot the company’s flagship EndoBarrier weight loss device, after a higher-than-expected rate of liver abscesses forced the halt of a clinical trial last year.
The EndoBarrier device is a plastic gut sleeve designed to prevent the absorption of nutrients from food as it exits the stomach and enters the intestinal tract. Schorer, a medical device veteran with stints as an executive or advisor at a raft of companies under his belt, told MassDevice.com that the EndoBarrier is a unique product. Read more
3. MedLink Technologies to buy Perseon Medical for $4.4m
Perseon Medical said yesterday that it inked a deal with MedLink Technologies to be acquired for $4.35 million as part of its Chapter 11 bankruptcy.
Salt Lake City-based Perseon said MedLink put up an $850,000 bid deposit, which Perseon would have to return (plus 5% on any of it used to fund operations) if MedLink doesn’t win out at the bankruptcy auction. Perseon would also owe a $217,500 break-up fee if MedLink’s stalking horse bid fails. Read more
2. Abbott warns on Topera catheter spline fracture risk
The electrophysiology business Abbott built around its $250 million acquisition of Topera Medical this month warned physicians about the risk that the splines on some of its Firmap catheters could fracture.
Abbott EP said it received 16 reports of catheter spline fracture from October 2013 to April 18, for an incidence rate of less than 0.4%. There were no injuries related to the fractures and the catheter was safely removed in all cases, according to the May 3 letter. Read more
1. Medtronic settles retaliation suit brought by ex-rep
A federal judge in Texas yesterday tossed a lawsuit alleging that Medtronic fired an ex-sales rep for reporting False Claims Act, after the company inked a settlement agreement with the plaintiff.
Judge Amos Mazzant of the U.S. District Court for Eastern Texas dismissed the case with prejudice after Medtronic and plaintiff Susan White said they settled the case on undisclosed terms, according to court documents. White had accused Medtronic of firing her for reporting violations both of its own policies and state and federal anti-fraud laws. Read more
The post MassDevice.com +5 | The top 5 medtech stories for May 24, 2016 appeared first on MassDevice.
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