Say hello to MassDevice +5, a bite-sized view of the top five medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 5 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
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5. Intuitive Surgical shares rise on solid Q1 beat
Shares in Intuitive Surgical rose today in after-hours trading after the robotic surgical platform maker posted 1st quarter earnings that beat expectations on the Street.
The Sunnyvale, Calif.-based company posted profits of $179.9 million, or $4.67 per share, on sales of $674 million for the 3 months ended March 31, equating to bottom-line growth of 31.8% while sales grew 13.4% compared with the same period in 2016. Read more
4. Aspect Imaging raises $30m
MRI maker Aspect Imaging has raised $30 million in a new round of financing, according to VC & equity site Finsmes.
Funding from the round will go to support the development of its Embrace Neonatal MRI system and a newer, stroke-dedicated MRI system, the Israel-based company said. Read more
3. Medtronic updates 2011 warning on Synchromed II implantable drug pumps
Medtronic this month updated physicians on a warning it 1st issued in July 2011 about the batteries in its SynchroMed II implantable drug infusion pump.
The pumps are used primarily to treat chronic pain or severe spinal or cerebral spasticity. The issue, 1st reported in July 2009, relates to the formation of a filmy substance within the pump battery that can lead the device to shut down suddenly, causing a patient’s pain and symptoms to return or triggering withdrawal symptoms. Returned product analysis proved the failed devices’ alarms functioned as designed, Fridley, Minn.-based Medtronic said at the time. Read more
2. Boston Scientific launches Emblem S-ICD study for diabetics
Boston Scientific said yesterday that it’s launching a study of its Emblem S-ICD device in older patients with diabetes who are at risk for sudden heart attack but unsuitable for implantable cardiac defibrillators, as it seeks parallel approvals for the new indication from the FDA and the Centers for Medicare & Medicaid Services.
The S-ICD, which Boston Scientific acquired from Cameron Health for $150 million in cash and another $1.05 billion in potential milestones back in 2012, delivers its regulating shock via subcutaneous leads. The newer Emblem model is 19% slimmer and projected to last 40% longer than the original S-ICD, Marlborough, Mass.-based Boston Scientific has said. If approved by the FDA and CMS, the new indication would be for patients age 65 and older with a history of heart attack, diabetes and moderately low left ventricular ejection fraction. Read more
1. St. Jude Medical fuels Abbott’s Street-beating Q1 results
Abbott handily beat expectations on Wall Street in its 1st quarterly earnings release since its blockbuster, $25 billion acquisition of St. Jude Medical closed in January.
The Chicago-area healthcare giant posted profits of $419 million, or 24¢ per share, on sales of $6.34 billion for the 3 months ended March 31, representing bottom-line growth of 32.6% on sales growth of 29.7% compared with Q1 2016. Read more