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. Senate Dems force hearing delays for Price, Mnuchin at HHS, Treasury
Senate Democrats today staged an en masse boycott of a committee hearing on the Trump administration’s nominees to lead the U.S. Health & Human Services and Treasury Depts., forcing Republicans to delay the votes on Rep. Tom Price (R-Ga.) and Steve Mnuchin.
At least 1 Democrat must be present for the Senate Finance committee votes to take place; the boycott was prompted by media reports that Price and Mnuchin misled Congress during testimony before the Senate earlier this year. Read more
4. Zimmer Biomet’s Q4, 2016 numbers top estimates
Zimmer Biomet topped the consensus forecasts for both its 4th-quarter and full-year 2016 results, despite a nearly -50% profit slide for the quarter.
The Warsaw, Ind.-based orthopedics giant posted profits of $66.6 million, or 33¢ per share, on sales of $2.01 billion for the 3 months ended Dec. 31, for a bottom-line decline of -47.6% on sales growth of 4.1% compared with Q4 2015. Read more
3. PixarBio investors sue over InVivo takeover bid
PixarBio investors launched a securities class action suit against the Massachusetts-based biotech yesterday, alleging that the company lost its investors millions of dollars by issuing false statements about the prospects of a merger with InVivo Therapeutics.
The case was brought on behalf of investors who purchased or acquired PixarBio stocks between October 31, 2016 through January 20, 2017. It claims that the defendants made false, misleading statements about the company’s current shareholders, the identity and qualifications of key shareholders and employees and the company’s development efforts. Read more
2. Glooko, Ascensia ink diabetes data integration deal
Asensia Diabetes Care and Glooko said today they inked a global technology partnership deal through which Glooko’s Diabetes data management platform will be integrated with Ascensia’s Contour Next One and Contour Plus One blood glucose monitors.
The integration of the systems will allow direct access to blood glucose data through Glooko’s mobile application and clinic data upload products directly from the Contour Next One and Contour Plus One meters. Data will be communicated via bluetooth, with an automatic feed through the Contour Cloud, the companies said. Read more
1. Arguments set to begin in ex-Stryker rep’s appeal of $750k loss
A former Stryker sales rep is slated to appeal his nearly $750,000 loss in a lawsuit over his move to rival Biomet (now Zimmer Biomet), with oral arguments due to begin tomorrow.
Stryker in 2013 sued a pair of former sales agents, Christopher Ridgeway and Richard Steitzer, accusing them of scheming to poach reps and business from Stryker in Louisiana and New York. Stryker fired Ridgeway in September 2013, after discovering that he was allegedly running a pair of medical supply businesses on the side. In June of that year, Stryker alleged, Biomet began courting Ridgeway, looking to bring his entire Stryker sales teams on board. Ridgeway also allegedly induced a 3rd Stryker employee, Sheldon Green, to jump ship for Biomet and forwarded Stryker’ Louisiana customer list to Green, according to the complaint. Read more
The post MassDevice.com +5 | The top 5 medtech stories for January 31, 2017 appeared first on MassDevice.
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