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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The World Health Organization estimates that a quarter of death and disease globally is caused by hazards and environmental burdens in developing countries with little to no access to preventative care and diagnostic devices.
Since developing countries are poor agricultural regions that are still becoming economically and socially advanced, it is harder for doctors to carry around an entire lab for diagnostics. Read more
The Centers for Medicare & Medicaid Services this week proposed rolling back a trio of bundled payment pilot programs aimed at lowering healthcare costs and improving outcomes.
The federal health insurer announced its 5-year “Comprehensive Care for Joint Replacement” program in July 2015, saying it would involve more than 800 hospitals in 75 geographic areas. The CJR program, which went into effect in January 2016, bundles payments for hip and knee replacements from hospital admission to 90 days after discharge. The payment covers “all related items and services paid under Medicare Part A and Part B for all Medicare fee-for-service beneficiaries,” CMS said at the time. Reimbursement is also pegged to outcomes and cost, giving Medicare the ability to claw back payments or reward good performance with addition payments; the CJR program aims to save about $150 million over 5 years. Read more
Medtronic shareholders seeking to sue the company claiming they were harmed by its $50 billion corporate inversion merger with Covidien will get their chance in court, the Minnesota Supreme Court ruled yesterday.
The case had been previously dismissed by lower courts which ruled that shareholders did not have the ability to sue under Minnesota law. Shareholders appealed, and the Minnesota Court of Appeals ruled that shareholders were directly damaged and could proceed last January. Read more
Globus Medical said today that it won 510(k) clearance from the FDA for its long-awaited Excelsius robot-assisted surgery platform, which is designed to integrate intra-operative CT and fluoroscopic imaging technologies.
Audubon, Pa.-based Globus said the clearance covers minimally invasive and open orthopedic and neurosurgical surgeries, including screw placement in spinal and orthopedic procedures. The system won CE Mark approval in the European Union in January. Read more
Clear orthodontic corrective device maker ClearCorrect said today it inked a deal to be acquired by Straumann Holding for approximately $150 million.
The Round Rock, Texas-based orthodontic device company said it would continue to operate out of its Texas headquarters under its ClearCorrect name, and that the acquisition will allow it to improve and expand the global reach of its Flex and Unlimited treatments. Read more