One industry insider stands against the prevailing winds and speculates that the device tax may be a good thing for the industry.
MASSDEVICE ON CALL — The medical device tax may be just the kick the industry needs to reinvigorate lagging research & development efforts, according to an industry insider.
Medtronic announces plans to launch its next-generation DF4 high-voltage CRM device leads after winning FDA clearance. Also, Cynosure lands FDA clearance for its cellulite laser system, Covidien's stroke management trial gets the FDA's green light, Baxter wins expanded indication for Tisseel in the U.S., Systagenix wins CE Mark for WoundChek, Trans1 confirms reimbursement in Hawaii, Positron wins a radioactive materials license, Applied Spectral Imaging lands FDA clearance for SpotScan, CardioKinetix gets CE Mark for 2 more Parachute sizes, VuComp wins PMA for mammogram assistance software and Charter Medical wins CE Mark for stem cell storage.
Medtronic Inc. (NYSE:MDT) landed FDA clearance for its DF4 high-voltage right ventricular lead for use with implantable cardiac rhythm management devices.
The DF4, which builds on Medtronic's Sprint Quattro lead, aims to help simplify the implantation process with a redesigned port and by providing visual confirmation of the lead's connection to the device.
Applied Spectral Imaging
, Baxano Surgical
, Baxter International
, CardioKinetix Inc.
, Charter Medical
, Cynosure Inc.
, Positron Corp.
, Systagenix Wound Management Inc.
, VuComp Inc.
Simbionix acquires the Arthro VR arthroscopic training simulator from Spain's GMV; also, GPOs Premier, Novation ink new deals; Medquist rebrands as M*Modal; Essilor inks China, Europe deals, adding nearly $45M to its top line; and PPD, VirtualScopics expand alliance.
Simbionix USA Corp. acquired the Arthro VR arthroscopic training simulator line from Spain's GMV for an undisclosed amount.
The deal broadens Simbionix's footprint in the orthopedic training arena. The Arthro VR features a line of simulated procedures using fiberglass limb replicas, 3D images and haptic sensation.
, Bayer HealthCare
, Becton Dickinson & Co.
, Bracco Diagnostics
, C.R. Bard
, Essilor International
, Lantheus Medical Imaging
, MedQuist Holdings Inc.
, PPD Inc.
, Premier Healthcare Alliance
, Simbionix USA Corp.
The outlook for venture capital this year has its bright and dark spots, according to National Venture Capital Assn. president Mark Heesen; also, PE climate "schizo"; Leerink Swann sees upside in health care market; a bullish take on St. Jude Medical; and analysts' ups and downs.
The volatility of the stock markets last year was mirrored in the venture capital arena, according to Mark Heesen, president of the National Venture Capital Assn.
"Be prepared for a roller coaster ride here, because that’s where we’ve been for the past year – and that’s where we’re going," Heesen told Xconomy.
, Baxter International
, Edwards Lifesciences
, HeartWare International Inc.
, Hill-Rom Holdings Inc.
, Leerink Swann
, National Venture Capital Assn.
, ResMed Inc.
, St. Jude Medical
, Stryker Corp.
, 3M Corp.
Although the impending medical device tax poses a burden to the med-tech industry, the biggest losers are likely to be patients and U.S. workers, Cook Group chairman Stephen Ferguson tells MassDevice.
As House Republicans push forward with a measure to repeal the impending 2.3% medical device levy, Cook Group chairman Stephen Ferguson warns that U.S. patients and workers have the most to lose should the tax be allowed to take effect in 2013.
"You know, Cook can survive anything," Ferguson told MassDevice. "We can deal with these issues, but the people who are manufacturing the devices and the patients who are looking at access to the latest technology, I think, are the 2 groups who will be the most impacted by this."
A California judge nixes Medtronic's and NuVasive's motions ahead of a hearing, Covidien posts a record-breaking quarter and the former head of a French breast implant maker is arrested.
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Charles Dockendorff, CFO of Covidien Plc., tells investors that the impending medical device tax will affect about half of the company's total sales.
Covidien plc (NYSE:COV) officials aren't predicting any doomsday scenarios for the incoming medical device tax.
In a conference call with investors Thursday, company CFO Charles Dockendorff called the tax "just another business issue" the company would manage as it moves forward.