The Indian government cuts the reimbursement rate for drug-eluting stents by about 62% in a move aimed at boosting its domestic stents industry.
The Indian government slashed reimbursement rates for drug-eluting stents by more than 61.5%, down to about $460 from roughly $1,200, aiming to give a boost to its domestic stents industry at the expense of the multinational players.
It's the 2nd rate cut since October 2011, according to the Business Standard. India cut the rate of reimbursement for U.S.-made stents from 65,000 rupees (about $1,200) to 25,000 rupees (~$461), which is now the standard rate for stents regardless of origin, according to the newspaper.
EnteroMedics closes a $13 million public offering it plans to use to win FDA approval for its Maestro weight loss device.
EnteroMedics (NSDQ:ETRM) said it closed a public offering it expects to add about $12 million to its coffers after it pays off expenses.
The St. Paul, Minn.-based medical device company is developing technology to treat obesity using neurostimulation of the vagus nerve to suppress the appetite.
Electronic health records maker Allscripts takes a hard dive on Wall Street after replacing its CEO and announcing that the company is no longer up for sale.
Electronic medical records company Allscripts (NSDQ:MDRX) is struggling to recover from a Wall Street dive after news of a CEO swap and decision to stop pursuing a possible sale send shares tumbling this week.
Private equity firm Blackstone Group leads the pack pursuing a buyout of Allscripts, according to Reuters.
Blackstone Group is said to be leading the bidding war for electronic medical records company Allscripts (NSDQ:MDRX) but the 2 sides are far from agreeing on a price, according to Reuters.
Citing 3 "people familiar with the matter," the news agency said a deal is "highly uncertain."
Medical device company Mako Surgical readies a public offering of more than 3 million shares worth more than $40 milion to help commercialize its Rio surgical robot.
Mako Surgical (NSDQ:MAKO) said it's planning to sell some 3 million shares of its own stock in an offering worth about $40 million.*
Angel investment in early-stage companies is on the rebound, according to a study by the University of New Hampshire's Center for Venture Research.
Angel investors started to come out of their shells during the first half of the year with angel investments up more than 3% compared with H1 2011, according to research out of the University of New Hampshire, and medical device companies took the lion's share of the backing.
The medical device and equipment sector grabbed 24% of total angel investment during the first six months of the year, according to a study from UNH's Center for Venture Research.