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. Scion Medical’s Medlink closes $4m Perseon buyout
Perseon Medical said yesterday that it closed the sale of its asset this week and reverted to its former name, BSD Medical, as part of the deal.
The $4.35 million sale, which closed August 22, was part of the Chapter 11 bankruptcy proceedings for Perseon, which makes the MicroThermX microwave ablation system for treating soft tissue tumors. Read more
4. GE Healthcare, Mission Health ink 10-year outcomes-based development deal
GE Healthcare said today it inked a 10-year, outcomes-based development deal with Mission Health to streamline care and improve cost efficiency at Mission Health’s facilities.
Through the partnership, the companies will co-develop, pilot and deploy healthcare solutions focused on optimizing patient imaging experiences and smoothing out patient care transitions. Read more
3. Titan Medical again extends negotiations with Chinese distributor
Titan Medical said this week that it’s again extending negotiations with a Chinese private equity shop, after a prior, 3-month add-on expired August 19.
The Toronto-based robot-assisted surgery company is in talks with Longtai Medical over the exclusive rights to its Sport platform. Read more
2. Medtronic to cover HeartWare’s cash burn by cutting back on other heart failure R&D
Medtronic, which earlier this week closed on the $1.1 billion buyout of implantable cardiac pump maker HeartWare, plans to cover HeartWare’s cash burn by cutting other heart failure R&D programs, the company executives said yesterday.
HeartWare’s implantable left ventricular assist devices are designed for end-stage heart failure patients, either as a destination therapy until death or as a bridge to heart transplantation. Read more
1. Patient perspective: Why I’m not that worried about my St. Jude Medical pacemaker
No one can say we weren’t warned. Among the more random and capricious threats of modern life – terrorist attacks, Boston-area roadways, a Trump presidency – my still-new pacemaker normally wouldn’t make the list. Yet yesterday morning, there it was in a tweet from Muddy Waters Research and managing director, Carson Block: “MW is short St. Jude $STJ – serious cybersecurity vulnerabilities in cardiac, could lose ~50% rev for 2+ years.”
I’m sure there were plenty of other folks who felt a brief little shudder when they saw that tweet shortly before 11 a.m. – including investors with significant long positions in St. Jude Medical, which started the day at $81.88 a share, only to sink more than 10% by lunchtime before scratching back for a 5% loss at $77.82 by the close. Read more
The post MassDevice.com +5 | The top 5 medtech stories for August 26, 2016 appeared first on MassDevice.
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