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. Nemaura Medical inks JV deal with Chinese Academy of Science affiliate
Nemaura Medical said today that it inked a letter of intent to form a joint venture deal with Chinese Academy of Science subsidiary Shenzen CAS Health Corp.
Through the deal, the companies aim to establish a joint venture company to distribute its sugarBEAT CGM system in China, a manufacturing facility in China and Chinese FDA approval for the device. Read more
4. FDA bans certain OTC antimicrobial hand, body washes
The FDA today issued a final rule banning certain over-the-counter antibacterial hand and body wash products due to a lack of evidence showing they are safe for long-term daily use or more effective than soap and water in preventing illness and the spread of certain infections.
The final ruling from the federal watchdog applies to products containing 1 or more of 19 specific active ingredients, including the most commonly used ingredients triclosan and triclocarban. The ruling does not affect alcohol-based hand sanitizers or antibacterial products used in health care settings. Read more
3. Masimo retools Nellcor royalty deal with Medtronic
Masimo said today that it re-tooled the royalty agreement it won a decade ago after a $263 million patent infringement win over then-Tyco Healthcare subsidiary Nellcor, now owned by Medtronic after a series of corporate buyouts.
Irvine, Calif.-based Masimo said it agreed to hold the rate at 7.75% through Oct. 6, 2018, “after which no further royalties will be due under the agreement.” The new agreement puts the long-simmering dispute to bed, including ongoing patent infringement proceedings. Read more
2. Unilife: Ex-CEO Shortall’s shenanigans exposed ‘material weaknesses’
Shares in Unilife are off 7% this week after the company said its investigation into former CEO Alan Shortall turned up “material weaknesses” in its bookkeeping procedures that will require it to restate some of its financials.
Unilife said in July that its investigation found that Shortall and ex-chairman Jim Bosnjak (who retired from the board in August 2015 and was succeeded by Shortall), used the company as a sort of bank to finance Shortall’s move to a new home, personal expenses and loan payments. Read more
1. Nestlé’s health science unit inks staged acquisition of Phagesis
The health science business owned by Nestlé said yesterday that it agreed to a staged acquisition of Phagenesis and its device for treating patients who can’t swallow.
The deal calls for an unspecified up-front payment and a series of milestones pegged to development programs in the U.S. and Europe for the Phagenyx device, which has CE Mark approval in the European Union but is not approved for the U.S. market. Phagenyx is designed to use pharyngeal electrical stimulation to the back of the throat to restore neurological control of swallowing in patients with dysphagia. Read more
The post MassDevice.com +5 | The top 5 medtech stories for Sept. 2, 2016 appeared first on MassDevice.
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