A Texas jury ruled that Smith & Nephew's Renasys-F negative-pressure wound therapy infringes a pair of patents licensed to Kinetic Concepts Inc.
A Texas jury handed a win to Kinetic Concepts Inc. (NYSE:KCI) in its wound care war with Smith & Nephew (NYSE:SNN), ruling that the British medical products conglomerate infringed a pair of KCI-licensed patents with its Renasys-F negative-pressure wound therapy.
The jury in the U.S. District Court for Western Texas decided that the Smith & Nephew product violates a pair of patents owned by Wake Forest University and licensed to KCI, which sued Smith & Nephew for patent infringement in 2008. The jury found that KCI showed it lost about $900,000 in profits and about $143,000 in lost royalties due to the infringement, which also cost Wake Forest roughly $186,000 in lost royalties, according to court documents.
The Food & Drug Administration grants PMA clearance to Abbott for its TECNIS intraocular lens, designed to preserve patients' ability to focus at different distances after cataract surgery.
Abbott (NYSE:ABT) won PMA clearance from the Food & Drug Administration for its TECNIS Multifocal 1-Piece intraocular lens, which the federal watchdog approved for treating cataract patients.
The Abbott Park, Ill.-based medical products conglomerate said the lens, which is implanted in the eye after the removal of the cataract-occluded natural lens, corrects presbyopia. That's a condition in older patients the prevents the eye from adjusting its focal length.
Pittsburgh-based sponge safety company ClearCount Medical Solutions hired David Haffner to be its new CFO.
By Brandon Glenn
Sponge safety company ClearCount Medical Solutions hired David Haffner to be its new CFO.
Haffner, who was CFO for medical technology companies including RedPath Integrated Pathology and Renal Solutions, will oversee the day-to-day financial operations of Pittsburgh-based ClearCount and will be responsible for its financial strategy, according to a press release.
Peabody, Mass.-based imaging equipment maker Analogic Corp. sees sales of its MRI and CT equipment drop 9 percent during the second quarter and cuts 17 jobs, but doubles its bottom line.
Analogic Corp.'s (NSDQ:ALOG) largest business segment posted flat sales, with a 9 percent dip in its bread-and-butter MRI and CT equipment business offsetting stronger sales of specialized ultrasound equipment.
The Peabody, Mass.-based imaging equipment maker posted sales of $103.3 million for the three months ended Jan. 31, essentially flat compared with $102.7 million during the same period last year. Still, net income improved to $3.6 million, compared to $1.4 million for the same period last year, when the company took a $3.5 million hit to its bottom line when it laid off 145 employees, or about 9 percent of its total workforce.
Billerica, Mass.-based scientific instrument maker Bruker Corp. snags three divisions of the Palo Alto, Calif.-based instruments company after Agilent is forced to divest the businesses to comply with European anti-trust laws.
Agilent Technologies Inc.'s (NYSE:A) embarrassment of riches turned out to be a boon for Bruker Corp. (NSDQ:BRKR) too.
The companies announced the completion of a deal to sell Billerica, Mass.-based Bruker three business units of Varian Inc. so Agilent can comply with European anti-trust laws. Agilent
acquired its Palo, Alto, Calif.-based instrument-making subsidiary in July 2009 for a reported $1.5 billion.
Our Weekly Checkup takes the temperature of the medical device industry's three largest U.S. clusters: Massachusetts, California and Minnesota.
The MassDevice Indices are weighted according to market capitalization, based on the number of shares outstanding for each company from its most recent quarterly report and each Friday's closing share price.
The Massachusetts index for the week ended March 5 closed at 5.46, down 6.0 percent compared with the prior week. Since Jan. 1, 2009, when we began tracking these companies, the index has risen 23.3 percent.
Taunton, Mass.-based Orthopaedic Synergy Inc. plans to acquire French robotic and computer-assisted surgery company Praxim SA for an undisclosed amount.
Orthopaedic Synergy Inc. signed a letter of intent to acquire Praxim SA of France, which makes robotic and computer-assisted surgery devices.
The Taunton, Mass.-based firm, which is the holding company for OMNIlife Science Inc. and Enztec Ltd. of New Zealand, said the deal is aimed at generating shorter product development cycles, according to a press release.
Praxim makes automated systems, software and instruments for total joint arthroplasty procedures. Based in Grenoble, France, the comany also has operations in Santa Clara, Calif., Bethlehem, Pa., Solihull, England, and in the Benelux region, according to its website.
