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. 5 innovative medical devices designed by students
The Industrial Designers Society of America (IDSA) just released its list of the 2017 IDEA award-winning designed products.
The winners in the medical device category included several interesting devices. But what really caught our eye was the Student Designs category, which featured several noteworthy medical innovations. These devices were interesting because of their focus on real problems of today: designing for low-resource areas, emergency situations, and cost conscious care. Many of them incorporated monitoring through the use of IoT devices and highlighted a sophisticated integration of data collection and analysis. Read more
4. Sotera Wireless emerges from bankruptcy with $32m
Sotera Wireless emerged from bankruptcy protection with nearly $32 million in hand, after a lawsuit brought by rival Masimo drained its coffers, but is enjoined from using Masimo data allegedly purloined by a pair of former employees who jumped ship for Sotera.
The San Diego-based company filed for Chapter 11 bankruptcy protection in September 2016, saying it owed its main creditors roughly $13.1 million. Sotera, which developed the ViSi wireless wearable patient monitor, reported raising about $20.7 million back in April 2014 and acquired sensor developer Reflectance Medical for an undisclosed amount the next year. Read more
3. Senate votes to open Trumpcare debate, falters on Obamacare repeal-and-replace
U.S. Senate Republicans overcame one hurdle on their race to repeal and replace Obamacare, narrowly passing a procedural motion to open debate on the measure, but failed to win enough votes to pass the actual bill.
The Senate deadlocked at 50-50 on whether to move forward on the healthcare debate, with Vice President Mike Pence casting the tie-breaking vote to open debate on the Trumpcare bill. Sens. Susan Collins (R-Maine) and Lisa Murkowski (R-Alaska) were the only Republicans to oppose the measure; former opponents, including Sen. John McCain (R-Ariz.), who was recently diagnosed with brain cancer and returned today to vote on the measure, tilted towards opening the bill for debate. Read more
2. Integra LifeSciences slides on Q2 results
Integra LifeSciences shares are under pressure this morning after the medical device maker reported its second-quarter results and lowered its outlook for the rest of the year.
Plainsboro, N.J.-based Integra posted profits of $10.8 million, or 14¢ per share, on sales of $282.2 million for the three months ended June 30, for a bottom-line slide of -15.1% on sales growth of 13.2% compared with Q2 2016. Adjusted to exclude one-time items, earnings per share were 45$, dead even with the consensus on Wall Street, where analysts were looking for sales of $283.7 million. Read more
1. Philly judge reverses pelvic mesh win for Johnson & Johnson
A Pennsylvania state court judge last week overturned part of a jury verdict that gave Johnson & Johnson subsidiary Ethicon its first win in five pelvic mesh trials in Philadelphia.
Last month a jury in the Philadelphia Court of Common Pleas cleared Ethicon in the fourth pelvic mesh bellwether to go to trial there, despite finding that the company’s TVT-Secur product was defectively designed and that Ethicon failed to warn of its risks. Read more
The post MassDevice.com +5 | The top 5 medtech stories for July 26, 2017 appeared first on MassDevice.
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