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 Bigfoot Biomedical’s CEO thinks the diabetes industry has a data problem
Bigfoot Biomedical‘s chief executive is excited about Abbott‘s latest regulatory win – and it’s not just because the two companies have an established partnership.
Yesterday, the FDA approved Abbott’s FreeStyle Libre Flash continuous glucose monitoring system. It’s the first device of its kind, allowing patients to track their blood glucose levels without the use of routine finger sticks. Read more
4. Leerink fund raises $313m for HIT plays
A fund backed by investment bank Leerink Partners raised $313 million for investments in the health information technology sector.
Boston-based Leerink Transformation Partners said its first fund was significantly oversubscribed compared with the $250 million it initially sought to raise. Co-founder Todd Cozzens is a medical device industry veteran and former Sequoia Capital partner; Dr. Jared Kesselheim, a internist, spent 8 years at Bain Capital Ventures. Read more
3. Insulet “bets big” on Massachusetts with new manufacturing facility in Acton
Insulet broke ground at its new manufacturing facility in Acton, Mass. yesterday, hosting a ceremony that featured the state’s governor, Charlie Baker, members of Baker’s administration and a young “Podder” named Lexi Bentinganan.
Diagnosed at age 7 with Type I diabetes, Lexi has been using Insulet’s tubeless insulin delivery device, the Omnipod, since 2013. Read more
2. Abbott plans to close $5B Alere buyout next week
Abbott said that it plans to close its once star-crossed merger with Alere next week, after U.S. and Canadian anti-trust regulators yesterday approved the deal subject to concessions.
Abbott agreed to divest a blood gas testing system to Siemens, which also agreed to buy two Alere facilities in Ottawa. Quidel Corp. is slated to buy Abbott’s heart function testing system business and an Alere facility in San Diego. Read more
1. FDA warns on endoleaks with stent grafts
The FDA yesterday warned physicians about the risk for a dangerous type of leak with endovascular stent grafts used to wall off aneurysms in the abdominal aorta.
The federal safety watchdog said the warning was prompted by an uptick in adverse event reports from physicians and medical device companies of Type III endoleaks in stent grafts used to treat AAA and aorto-iliac-aneurysms. Type III endoleaks result from defects or mis-alignment of the stent graft components, allowing pressure to build in the aneurysm sac and increasing the risk of rupture. Read more
The post MassDevice.com +5 | The top 5 medtech stories for September 29, 2017 appeared first on MassDevice.
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