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. SentreHeart recalls FindrWIRZ Guidewire System over coating separation issues
SentreHeart is recalling a select number of its FindWIRZ guidewire systems over PTFE coating separation issues, according to an FDA release posted today.
The recall has been given a Class I label from the FDA, which indicates “a reasonable probability that use of these products will cause serious adverse health consequences or death,” according to the agency. Read more
4. Spectranetics wins CE Mark for smaller Stellarex DCB
Spectranetics said yesterday that it won CE Mark approval in the European Union for a smaller size of its Stellarex drug-coated balloon.
The Stellarex 0.014” device is designed to treat small vessels, below-the-knee disease and challenging critical limb ischemia. The larger, 0.035” device won CE Mark approval in December 2014, just before Spectranetics paid Covidien $30 million deal for the angioplasty platform following the consummation of Medtronic‘s $50 billion merger with Covidien. Read more
3. Shockwave Medical raises $45m Series C for Lithoplasty device
Shockwave Medical said today that it raised a $45 million Series C round for the Lithoplasty device it developed to treat calcified vasular lesions.
Fremont, Calif.-based Shockwave said Sectoral Asset Management led the round, joined by new backer T. Rowe Price and existing investors Sofinnova Partners, Venrock, RA Capital, Deerfield, Ally Bridge Group and others. Read more
2. Boston Scientific closes $210m EndoChoice buy
Boston Scientific said today that it closed its $210 million buyout of EndoChoice and its line of devices for treating gastrointestinal disease.
The $8-per-share tender offer was originally slated to expire at midnight Nov. 4. Marlborough, Mass.-based Boston Scientific later moved the deadline out to Nov. 21. they September. Alpharetta, Ga.-based EndoChoice took itself public in June 2015 with an IPO that brought in some $96 million. Read more
1. Medtronic shares slip on missed Q2 sales mark, lowered outlook
Medtronic shares dropped in pre-market trading today after the world’s largest medical device company missed Wall Street’s expectations with its fiscal 2nd-quarter sales and lowered its outlook for the rest of the year.
Fridley, Minn.-based Medtronic posted profits of $1.12 billion, or 80¢ per share, on sales of $7.35 billion for the 3 months ended Oct. 28, for bottom-line growth of 114.4% on sales growth of 4.1% compared with Q2 2015. Read more
The post MassDevice.com +5 | The top 5 medtech stories for November 22, 2016 appeared first on MassDevice.
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