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. Medtronic touts 1-year data on Avalus surgical aortic valve
Medtronic today reported 1-year results from a clinical trial of its Avalus pericardial aortic surgical valve, touting low rates of adverse valve-related events and high survival numbers.
Data from the study were presented at the European Assn. for Cardio-Thoracic Surgery’s annual meeting in Barcelona this week. Read more
4. ConvaTec IPO could fetch nearly $2B
ConvaTec said today that it plans to raise about $1.8 billion in an initial public offering on the London Stock Exchange in the largest U.K. flotation this year, even as Great Britain prepares to exit the European Union.
The Danish wound dressing and colostomy supply maker, which is owned by private equity firms Avista Capital Partners and Nordic Capital, said today that it expects to put up at least 25% of its shares in the IPO. The statement confirmed rumors 1st aired in May that Convatec was asking investment banks to hire underwriters for an IPO of more than $1 billion; the flotation announced today would mean a market value of about $7.2 billion. Read more
3. Xeltis launches bioresorbable heart valve study
Xeltis said today that it launched the Xplore-I clinical trial of its bioresorbable pulmonary heart valve in pediatric patients undergoing a type of reconstructive surgery to treat congenital heart defects.
The Dutch-Swiss company, which won humanitarian use device status from the FDA in March, said the feasibility study is designed to evaluate the 6-month survival rate using the valve in patients during right ventricular outflow tract procedures. Three patients implanted with the device in Hungary and Poland have been discharged and are doing well, according to Dr. Zsolt Prodan, the surgeon who performed 2 of the open heart procedures in July. Read more
2. Spectral Medical’s Toraymyxin fails pivotal trial
A clinical trial of the Toraymyxin anti-sepsis device made by Spectral Medical failed to meet its primary endpoint, sending share prices on a -81.1% plunge today.
Toronto-based Spectral developed a stand-alone pump, the Toraymyxin device, designed for use with an assay to identify endotoxin levels. The system aims to use a 2-column hemoperfusion to remove septic toxins from the bloodstream; Spectral Medical licenses the technology for the North American market from Japan’s Toray Industries. Read more
1. BD’s CareFusion lands $100m contract with U.S. Defense Dept.
Becton Dickinson subsidiary CareFusion won a $100 million contract to develop an automated drug dispensing system for the U.S. Defense Dept., the Pentagon said last week.
The 5-year blanket purchase agreement “supports the need for a comprehensive Pharmacy Inpatient Automation Solution (PIAS) – Automated Dispensing Cabinet (ADC) that meets the highest quality standards for implementation at military treatment facilities (MTFs) across the Military Health System (MHS),” according to a Defense Dept. press release. Read more
The post MassDevice.com +5 | The top 5 medtech stories for October 3, 2016 appeared first on MassDevice.
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