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. ReWalk Robotics raises $12m, forecasts Q3 sales beat
ReWalk Robotics last week priced a stock-and-warrants offering worth more than $12 million and said it expects its 3rd-quarter earnings to beat expectations on Wall Street.
Yokneam, Israel- and Marlborough, Mass.-based ReWalk, which makes a robotic exoskeleton designed to assist patients with spinal cord injuries, said it floated 3.25 million units at $3.75 apiece in the offering, for gross proceeds of $12.2 million. The offering includes a share of RWLK stock and ¾ of a warrant at an exercise price of $4.75 apiece. Oppenheimer & Co., the lone underwriter, has a 30-day over-allotment option for another 487,500 units that’s worth an additional $1.8 million. Read more
4. NASS 2016: Interest grows in surgical robotics for spinal procedures
Mazor Robotics unveiled its next-generation robot-assisted surgery system and Globus Medical for the 1st time showcased the functional prototype of its Excelsius platform at the NASS 2016 meeting in Boston last week, signifying an increased interest in robotic surgeons among major players.
Mazor developed 3 generations of products over 15 years and does 95% of its business in spine surgery, according to Barclays. The Caesarea, Israel-based company’s next-gen Mazor X system, presented at this year’s North American Spine Society meeting, helps surgeons develop a pre-operative plan, make automated calculations, and provide intraoperative guidance to ensure that the plan is followed for each patient. It can also measure the length of time for each case, demographics and other important variables to improve case management. Read more
3. Guidance cut, Q3 sales miss push Zimmer Biomet shares down
Zimmer Biomet shares fell sharply this morning after the orthopedics giant posted lower-that-expected 3rd-quarter sales and cut its guidance for the rest of the year.
Warsaw, Ind.-based Zimmer logged profits of $158.8 million, or 78¢ per share, on sales of $1.83 billion for the 3 months ended Sept. 30, putting its bottom-line growth at a whopping 615.3% on sales growth of 4.0% compared with Q3 2015. Read more
2. TCT 2016: Stents, stents, stents on Day 1
The annual Transcatheter Cardiovascular Therapeutics conference is under way in Washington, D.C., with late-breaking study results beginning yesterday. We’ll update this post throughout the day as new results come in, so be sure to check back for the latest news out of TCT 2016.
Stents took center stage Day1, with a raft of studies covering the latest on the bioresorbable front. Read more
1. FDA posts another Class I HeartWare HVAD recall
The FDA today posted a Class I recall notice for select Medtronic HeartWare ventricular assist device controllers over issues with loose power connectors that could stop the pump from functioning.
A Class 1 indication from the federal watchdog indicates “a reasonable probability that use of these products will cause serious adverse health consequences or death,” according to the agency. Read more
The post MassDevice.com +5 | The top 5 medtech stories for October 31, 2016 appeared first on MassDevice.
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