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. Tactile Systems reduces IPO to $46m
Leg compression device developer Tactile Systems Technology reduced its initial public offering to $46 million.
Those estimates are down approximately 24% from the $60 million it said it hoped to bring in in June, which was 30% less than the $86 million projection the company put up when it registered the IPO in January. Read more
4. CareFusion recalls select AVEA ventilators over electrical issues
The FDA yesterday released information on a select recall of CareFusion AVEA Ventilators due to electrical issues which could cause unexpected shutdowns.
The federal watchdog labeled the recall as a Class I, the agency’s most serious classification of recall. Class 1 designations are used when there is a reasonable probability that product use could cause serious adverse health consequences or death. Read more
3. Align Tech releases street-beating Q2, announces deal with SmileDirectClub
Align Technology yesterday released its 2nd quarter earnings, handily beating the street on revenue and earnings per share and announcing a new agreement with SmileDirectClub.
The reported profits of $50.1 million, or 62¢ per share, on sales of $269.4 million for the 3 months ended June 30. Read more
2. Medtronic touts 5-year Endurant stent graft data
More than 5 years after Medtronic‘s Endurant Stent Graft System 1st gained FDA approval, the medical device giant has released data pointing to long-term durability of the treatment for abdominal aortic aneurisms.
Healio reported that Endurant showed durability and safety in patients 5 years after treatment, according to details published in the Journal of Vascular Surgery. Read more
1. BioVentus delays $150m IPO
Orthobiologics maker Bioventus postponed its initial public offering which was slated to raise up to $150 million for the company, according to Renaissance Capital.
The company plans to float 8.8 million shares at a price range of between $16 and $18, and plans to list on the NASDAQ Global Market under the ticker “BIOV”. Read more
The post MassDevice.com +5 | The top 5 medtech stories for July 29, 2016 appeared first on MassDevice.
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