Implants | MassDevice

Former NMT Medical CEO John Ahern returns to the company's board

March 3, 2010 by MassDevice staff

After a 12-month absence, the former CEO returns to serve on the Boston, Mass.-based cardiac device company NMT Medical Inc.

John Ahern is back at the company he ran for nine years, just one year after giving up his board seat and resigning his post as CEO.

NMT Medical Inc. (NSDQ:NMTI), a Boston-based device company developing implants that allow interventional cardiologists to treat structural heart disease through catheter-based procedures, said it is bringing Ahern back as a member of the company's board. His addition means the company will increase the number of seats on its board to seven.

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NMT registers for $30 million stock sale

February 9, 2010 by MassDevice staff

NMT Medical Inc. looks to raise $30 million through a public stock offering to bring its STARFlex cardiac implant to market.

NMT Medical Inc. (NSDQ:NMTI) is looking to raise $30 million through a public stock offering to bring its STARFlex cardiac implant through the regulatory process and into the marketplace.

The Boston-based cardiac implant maker said it needs the money because it's low on cash reserves and heavily leveraged. NMT only has about $9 million in cash reserves and has amassed more than $50 million in debt, according to a prospectus filed with the federal Securities & Exchange Commission.

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MedGadget's MedTech Monday: Flexible rubber sheets to power implantable devices?

February 1, 2010 by MassDevice

Researchers develop tiny silicone rubber sheets with embedded nanorods that generate electricity; a virtual skeleton helps surgeons prep for orthopedic operations; and tiny antennae to help miniaturize implantable devices.

Flexible rubber sheets to power implantable devices?: Princeton and Caltech researchers have developed special silicone rubber sheets with embedded nanorods that, when bent, generate electricity with impressive efficiency. The technology is projected to be used as a power source for implantable devices such as pacemakers, by harnessing energy from moving organs such as the thoracic cage.

Symmetry Medical to shutter Maine plant

December 18, 2009 by MassDevice staff

Symmetry Medical Inc. plans to shutter a plant in Auburn, Maine, and consolidate its operations into other facilities.

Symmetry Medical Inc. (NYSE:SMA) plans to shutter its plant in Auburn, Maine, and consolidate its operations into other facilities as it gears up for an anticipated recovery for the orthopedics industry.

The Warsaw, Ind.-based orthopedic implant maker said the move is aimed at streamlining the business and reducing costs. The consolidation is slated to be complete by the middle of next year; the company did not reveal how many employees would be affected.

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Stryker spends $103 million on a pair of acquisitions

November 10, 2009 by MassDevice staff

Kalamazoo, Mich.-based medical device giant buys OtisMed, a custom knee replacement technology company, and aspirator maker Synergetics.

Stryker Corp. spent an estimated $103 million beefing up two of its divisions.

The Kalamazoo, Mich.-based medical device giant said the company will acquire OtisMed Corp., a software company out of Alameda, Calif., that makes computer programs for customizable knee replacements.

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NMT Medical narrows Q3 net loss despite top-line slide

October 29, 2009 by MassDevice staff

The Boston-based cardiac implant maker manages to cut its third-quarter expenses and its Q3 net loss, despite a 28 percent decline in revenues, and announces a distribution deal in Germany.

NMT Medical Inc. cut its third-quarter net loss by more than 34 percent despite posting a revenue decline of nearly 28 percent and announced a new distribution deal in Germany

The Boston-based cardiac implant maker reported sales of $3 million for the three months ended Spet. 30, down 27.7 percent compared with $4.2 million during the same period last year.

Net losses narrowed from $4.4 million during Q3 2008 to $2.9 million during the just-ended period, as NMT slashed its total expenses by 31 percent to $5.9 million. As a percentage of revenues, total expenses dropped 9.3 percent.

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Preemption in action

October 20, 2009 by MassDevice

A federal judge in Arizona tosses a product liability lawsuit against Allergan over a defective breast implant, ruling that its approval by the Food & Drug Administration preempts any applicable state laws. But a closer look shows that the plaintiffs might have lost the case anyway, even without preemption.

A federal judge tosses out a product liability lawsuit against Allergan on preem

A federal judge's decision in a lawsuit over allegedly defective silicone breast implants highlights the preemption rules enshrined by the Supreme Court in Riegel vs. Medtronic (PDF).

In that case, the Supremes held that once a medical device has been approved by the Food & Drug Administration, product liability lawsuits based on state tort laws have no standing — in other words, the federal approval preempts state law.