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. ViewRay raises $14m in private placement
ViewRay said today that it raised nearly $14 million in a private placement as it gears up to launch its MRIdian linear accelerator, saying it expects to win regulatory nods in the U.S. and overseas by the end of the year.
Cleveland-based ViewRay said the round was led by existing backers OrbiMed Advisors, Xeraya Capital and Kearny Venture Partners, with participation from 2 board members and private equity shop CRG, which funded a $50 million debt round for ViewRay last year. ViewRay closed a $26.7 million private placement a month later, in July 2015. Read more
4. Agfa HealthCare lands $768m imaging contract with U.S. gov’t
Agfa HealthCare, the medical imaging business owned by Belgium’s Agfa-Gevaert, last week won a contract with the U.S. government worth up to $768 million.
The 5-year deal, which also has a 5-year extension option, calls for Mortsel, Belgium- and Greenville, S.C.-based Agfa HealthCare to provide digital imaging network and picture archiving & communication system services to federal healthcare providers. The U.S. Defense Dept. said there were 6 other bidders for the contract, which involves providers for the U.S. Army, Navy, Air Force, Marine Corps and federal civilian agencies. Read more
3. Rio Grande Neurosciences backs out of $22m Endonovo deal
Rio Grande Neurosciences last week backed out of its pending acquisition by Endonovo Therapeutics, after seeking to renegotiate the terms of the $22 million deal, Endonovo said.
Steven Gluckstern, chairman & CEO of Santa Fe-based Rio Grande, dissolved a binding letter of intent August 19 “following its request to renegotiate the terms of the binding LOI, including the aggregate purchase price and the removal of non-solicitation of the binding letter agreement,” Los Angeles-based Endonovo said. Read more
2. Report: Apple buys personal EHR company Gliimpse
Apple reportedly acquired Gliimpse, a company that aims to allow patients to assemble and maintain their own electronic health record, for an unspecified amount.
The Silicon Valley tech titan confirmed the acquisition to Fast Company, but declined to elaborate. Founded in 2013, Gliimpse is building a platform designed to collect personal health data, including images, documents and test records. Read more
1. Intuitive Surgical sues J&J’s Ethicon for ‘legal gymnastics’ over sales rep’s non-compete
Johnson & Johnson subsidiary Ethicon is using “intricate legal gymnastics” to sidestep California’s restrictions on non-compete agreements, aiming to prevent its employees from hiring on with Intuitive Surgical, the robot-assisted surgery company alleged last week in a lawsuit.
The Golden State’s “labor mobility” statutes mean that non-compete agreements are void. Ethicon sought to get around that by filing a lawsuit in an Ohio state court, seeking an injunction to prevent Intuitive from hiring 1 of its sales reps, Scott Szesterniak – even though Szesterniak lives and works solely in California, according to the lawsuit. Read more
The post MassDevice.com +5 | The top 5 medtech stories for August 22, 2016 appeared first on MassDevice.
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