Category: Manufacturer
Manufacturer
Medtronic Inc. launches a 1,000-patient study of its CoreValve aortic stenosis therapy, designed as a minimally invasive method of replacing faulty heart valves.
By Brandon Glenn
Medtronic Inc. (NYSE:MDT) launched what’s expected to be a 1,000-patient study of a catheter-based system it hopes will become a less-invasive — and highly lucrative — alternative to open-heart surgery for valve replacement.
Medtronic’s CoreValve system allows a replacement heart valve to be placed in a patient’s body via a catheter inserted in the femoral artery, near the groin. A catheter is a thin, flexible tube that can be inserted into a body cavity to open a passageway or to allow fluids to pass through.
Taunton, Mass.-based OMNIlife Science Inc. will be the exclusive distributor of hip articulation technology made by Societe d'Etudes Recherches Fabrication-Dedienne Sante.
OMNIlife Science Inc. will be the exclusive U.S. distributor of articulation technology used in artificial hips made by a French maker of orthopedic and dental implants.
Taunton, Mass.-based OMNIlife said the deal with Societe d'Etudes Recherches Fabrication-Dedienne Sante will begin as soon as the company receives regulatory approval from the Food & Drug Administration. Further terms of the deal were not announced.
Minneapolis-based medical device monolith Medtronic registers for a $3 billion offering of its senior debt notes to drum up cash for working capital and perhaps to pay down debt.
Medtronic Inc. (NYSE:MDT) registered with the Securities & Exchange Commission for a $3 billion offering of senior debt notes in a bid to raise funds to cover its working capital needs and, perhaps, to pay down some of its debt.
The Fridley, Minn.-based medical device monolith announced the offering of $1.25 billion worth of its 3 percent senior notes, due in 2015; $1.25 billion of its 4.45 percent senior notes due in 2020; and $500 million of its 5.55 percent senior notes due in 2040.
Lawrence, Mass.-based portable dialysis maker NxStage Medical Inc. says the deal gives it some flexibility to "seize future opportunities when they arise" and amends some of the terms of a loan from Japanese distributor Asahi.
NxStage Medical Inc. (NSDQ:NXTM) took advantage of favorable interest rates to lock up some more working capital, possibly for future acquisitions.
The Lawrence, Mass.-based portable dialysis maker said it has secured a two-year revolving line of credit for $15 million with Silicon Valley Bank at an interest rate of about 6 percent annually.
NxStage said it would use the debt to "finance working capital needs as the business continues to grow and to seize future opportunities, when they arise," CFO Robert Brown, said in prepared remarks.
Robert Fields, partner and managing director at Breeden Capital Management and Breeden Partners, quietly resigned from Steris Corp.'s board for personal reasons March 5.
By Mary Vanac
Robert Fields, a partner and managing director at Breeden Capital Management and Breeden Partners, quietly resigned from the Steris Corp. (NYSE:STE) board for personal reasons March 5.
Normally, the resignation of a director causes few questions. However, Fields and Richard Breeden, the former Securities and Exchange Commission chief who has since become an investment manager and shareholder activist, are a special case.
Boston, Mass.-based NMT Medical beefs up its science chops as it prepares for Closure 1 trial data analysis.
NMT Medical Inc. (NSDQ:NMTI) named a group of physicians and scientists from leading hospitals and research institutions to shore up its scientific advisory board in anticipation of the data analysis portion of a clinical trial of the company's StarFlex implant.
The Boston, Mass.-based device company, which is developing implants to treat structural heart disease through catheter-based procedures, named eight to the board, which it says will advise executives on issues related to its ongoing Closure 1 clinical trial.
Portsmouth, N.H.-based IV infusion system developer Fluidnet Corp. drums up $9 million in an equity sale that CEO Jeff Carlisle says will go toward end-stage development and getting the product to market this year.
Fluidnet Corp. CEO Jeff Carlisle fairly bristles when he reads his company described as an IV infusion pump maker, as MassDevice did in the first version of this story published March 11.
His company's system is so advanced compared with current infusion systems, he says, calling it a pump is just not accurate.
"To characterize this as an infusion pump company would be so misleading. We're really taking a holistic look at the IV therapy process," Carlisle told MassDevice. "The information flow is an important as the fluid flow."
