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. Alere ticks up after reporting delayed 2015 results
Shares in Alere ticked up today after the diagnostics giant reported its long-delayed financial results ahead of its $6 billion union with Abbott.
Alere, which last month cut its outlook for the rest of the year amid a probe of accounting snafus in Africa and China, said in a press release that it found “immaterial errors” in its revenue recognition processes but revealed in a regulatory filing that there were “material weaknesses” in the way it recognized revenues and accounted for income taxes. Read more
4. Freudenberg Medical lifts Kley to CEO
Freudenberg Medical said today it promoted Dr. Max Kley to chief executive officer, effective August 1. Read more
3. MDT wins CE Mark for SureTune2 DBS software
Medtronic said today that it won CE Mark approval in the European Union for the SureTune2 software used with its deep-brain stimulation devices.
The software is designed to allow physicians to fine-tune patients’ therapy “by visualizing patient-specific information in one comprehensive view including anatomy, physiology, and calculated stimulation field,” the Fridley, Minn.-based company said. Read more
2. Sunshine Heart pays $5m for Baxter’s Aquadex
Sunshine Heart said today that it agreed to pay about $5 million for the Aquadex fluid filtration device Baxter acquired when it bought Gambro in 2013.
The Aquadex device is designed to filter salt and water in patients with renal failure experiencing fluid overload. The deal calls for Eden Prairie, Minn.-based Sunshine Heart to pay $4 million in cash and another 1 million in SSH shares, worth about $950,000 at their August 5 closing price of 95¢ apiece. Read more
1. Smith & Nephew closes $350m Truclear sale to Medtronic, launches $300m buyback
Smith & Nephew said today that it closed the $350 million sale of its gynecology business, including the Truclear hysteroscopy system, to Medtronic.
The London-based healthcare giant also made good on its promise to put $300 million of the proceeds toward a stock buyback plan. Read more
The post MassDevice.com +5 | The top 5 medtech stories for August 8, 2016 appeared first on MassDevice.
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