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. Sanovas launches SinuGeniX sinus treatment subsidiary
Sanovas recently announced the launch of SinuGeniX, a wholly-owned subsidiary focused on treating chronic sinusitis with the company’s RegENT sinus treatment system.
The newly-launched subsidiary won’t just supply a single tool for treating chronic sinusitis, which affects over 28 million Americans, but a suite of technologies, Sanovas CEO and system co-inventer Larry Gerrans told MassDevice.com in an interview. Read more
4. Abbott files to terminate $6B Alere acquisition
Abbott said today it filed a complaint with the Delaware Court of Chancery seeking to terminate its proposed $5.8 billion acquisition of Alere, referencing a “substantial loss in Alere’s value.”
Illinois-based Abbott said that since signing its agreement to pick up Alere on January 30, the company has “suffered a series of damaging business developments.” Read more
3. Terumo moves forward on $1B deal to pick up St. Jude, Abbott vascular assets
Terumo Corp. said today it reached an agreement with Abbott and St. Jude Medical to acquire vascular products from both companies in connection to their $25 billion merger.
The deal will include St. Jude’s Angio-Seal and FemoSeal vascular closure product lines and Abbott’s Vado steerable sheath. Together, the total annual sales of the businesses are approximately $268 million, Terumo said. Read more
2. U.S. Senate passes 21st Century Cures Act
The U.S. Senate voted 94-5 today to pass the 21st Century Cures Act, sending the measure to President Barack Obama, who is likely to sign it into law soon.
The U.S. House voted to pass the healthcare measure by a vote of 392-26 last week. Supporters of the bill say it will spur medical innovation by speeding up the regulatory process for device-makers and pharmaceutical companies, while expanding access to mental health treatment and battle the ongoing opioid epidemic. But critics, like Sen. Elizabeth Warren (D-Mass.) and Sen. Bernie Sanders (D-Vermont), have said the bill gives hand-outs to the pharmaceutical industries and cuts public health programs. Read more
1. Acelity spikes $1B IPO
Wound care and regenerative medicine company Acelity yesterday spiked an initial public offering that could have fetched as much as $1 billion.
Acelity, formerly Kinetic Concepts Inc., was acquired for $6.1 billion by Apax Partners and a pair of Canadian pension funds in a leveraged buyout in November 2011. The company, which makes wound care products, later folded KCI sister company LifeCell and acquisition Systagenix into the Acelity brand. Read more