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.
Get this in your inbox everyday by subscribing to our newsletters.
5. Stryker reaches new metal-on-metal hip implant settlement deal
Stryker said today that it, and its Howmedica Osteonics subsidiary have reached a compensation agreement for patients who had revision surgery to correct issues with its recalled Rejuvenate or ABG II modular metal-on-metal neck hip stems.
The agreement was reached by Court-appointed committees and attorneys for both Stryker and patients who received the metal-on-metal hip implants, which were recalled in July 2012. Read more
4. Appeals court denies ex-Cyberonics rep’s False Claims Act lawsuit
A federal appeals court last week denied a former Cyberonics sales rep’s bid to reinstate a File Claims Act suit, finding that plaintiff Andrew Hagerty failed to produce enough evidence to back his claims and waited to long to amend his complaint.
Hagerty, who according to court documents worked for Cyberonics between 2010 and 2012, claimed that the company urged its representatives push unnecessary battery replacement procedures for epilepsy patients implanted with its neurostimulation devices. His 2012 suit in the U.S. District Court for Massachusetts, alleging that Cyberonics canned him after he refused to sell the unneeded replacement batteries, was dismissed in February 2013. Read more
3. Chinese VCs Vivo Capital, ZQ Capital lead syndicate in Angiotech acquisition
Angiotech Pharmaceuticals, which rebranded in 2013 as Surgical Specialties Corp., said today that it agreed to be acquired by a syndicate led by Chinese venture capital shops Vivo Capital and ZQ Capital for an undisclosed amount.
Blackstone Group’s GSO Capital Partners, China Orient Asset Management and Fung Shing Investments also joined the transaction, which is slated to close during the 1st quarter next year. Read more
2. Indian anti-trust regulators approve $25B Abbott-St. Jude Medical tie-up
Anti-trust regulators in India joined their counterparts in the European Union in granting conditional approval for the $25 billion tie-up of Abbott and St. Jude Medical.
In a Dec. 16 Twitter message, the Competition Committee of India said it “approves proposed combination between St Jude Medical and Abbott Laboratories; subject to voluntary remedies.” Read more
1. Sweden’s SCA buys BSN Medical for $2.8B
Swedish hygiene and forest products maker Svenska Cellulosa Aktiebolaget won out over private equity rivals in the race for BSN Medical, with SCA agreeing to pay nearly $2.82 billion (€2.7 billion) for the wound care and orthopedics firm.
Luxembourg-based BSN launched in 2001 as a joint venture between Germany’s Beiersdorf and Smith & Nephew. Swedish PE shop EQT bought BSN in 2012 for €1.8 billion. BSN employs about 6,000 workers and posts annual sales of more than €860 million. Read more
The post MassDevice.com +5 | The top 5 medtech stories for December 19, 2016 appeared first on MassDevice.
from MassDevice http://ift.tt/2hSs6vl
Cap comentari:
Publica un comentari a l'entrada