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. Why medtech should keep its lobbying expectations low in 2017
Political chaos is lowering expectations when it comes to the medtech industry getting much done in Congress this year, says Clayton Hall, VP of government affairs for the Medical Device Manufacturers Association.
When it comes to permanent repeal of the 2.3% medical device excise tax that was part of the 2010 Affordable Care Act, there are fewer legislative opportunities, Hall said during a webinar hosted Aug. 23 by Medmarc Insurance Group. Read more
4. Report: Chinese medical device market growing faster than pharma
The medical device industry in China is experiencing rapid growth when compared to the global medtech market, as well as its pharmaceuticals industry, according to a report from China Med Device.
Between 2005 and 2015, the medical device market in China hit an annual growth rate of greater than 20%, according to the report, with demand for medical devices “expected to increase significantly.” Read more
3. NuVasive unveils new San Diego HQ expansion
NuVasive Inc. today unveiled the planned expansion of its San Diego headquarters to include an “innovation center of excellence,” slated to break ground in January 2018.
The 100,000-square-foot expansion will bring the facility’s total HQ spread to 250,000 square feet, NuVasive said, noting its commitment to boosting its R&D spend from 5% to 7% “over the next several years.” Read more
2. BD extends Bard tender again
Becton Dickinson & Co. once again extended its tender offer for up to $1.1 billion in outstanding C. R. Bard notes from August 29 to Sept. 27 ahead of their $24 billion merger.
The $317-per-share deal, announced last April, is expected to close during the fourth quarter. Bard shareholders approved the transaction earlier this month. BD is offering to buy up roughly $500 million in 4.4% Bard notes due 2021, $500 million in 3% notes and $149.8 million in 6.7% notes, both due 2026. Read more
1. InVivo retools to get Inspire trial back on track, lays off 39%
InVivo Therapeutics said yesterday that it’s laying off nearly 40% of its workforce, pausing a clinical trial and cutting two R&D programs as it tries to get its a pivotal study back on track.
The Cambridge, Mass.-based company, which is developing a scaffold implant to treat traumatic spinal cord injuries, last month suspended its 16-patient Inspire study after its most recent patient passed away suddenly following hospital discharge. Although the death was found to be unrelated to the InVivo scaffold or its implantation procedure, the company temporarily halted enrollment to discuss potential changes to Inspire’s enrollment criteria with the FDA. Read more
The post MassDevice.com +5 | The top 5 medtech stories for August 29, 2017 appeared first on MassDevice.
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