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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OrthoSensor raised $6.3 million in a new round of mixed financing, according to an SEC filing posted this week.
Money in the round came from 15 unnamed sources, according to the SEC filing, with the 1st sale recorded on April 10 this year. OrthoSensor is not looking to raise anymore funds in the round. Read more
Medtronic today touted 5-year results from the InSite study of its InterStim neuromodulation treatment for overactive bladder syndrome.
InterStim is designed to stimulate the sacral nerve to treat OAB, meaning urinary urge incontinence and/or urgency-frequency. The InSite study enrolled 340 patients, of which 272 were implanted with an InterStim device, comparing treatment with the device with standard drug therapy. The primary safety endpoint was to “demonstrate that the upper bound of the 95% CI for the cumulative five-year rate of adverse events related to the tined lead that require surgery is less than 33%” at 5 years, according to ClinicalTrials.gov. The primary efficacy endpoint was superior improvement in OAB symptoms at 6 months. Read more
Abbott said today that it launched the tender offer for its $5.3 billion acquisition of diagnostics giant Alere.
The $402-per-share tender offer is slated to expire at midnight on August 11, Abbott said. The merger was amended in April, when Abbott agreed to pay $5.3 billion for Alere rather than the original price of $5.8 billion. Read more
Claret Medical has raised $11.2 million in a new round of equity financing, according to an SEC filing posted this week.
Money in the round came from 34 unnamed investors, according to the SEC filing, with the 1st sale dated on June 22. Read more
Medtronic shares have dropped 1.7% today after CFO Karen Parkhill told Bloomberg that its fiscal Q1 constant currency sales will be in the low end of guidance due to a week-long systems crash, according to a Seeking Alpha report.
The company’s manufacturing and customer order systems went down for a full week due to an internal technical issue last month, leaving the medtech giant playing catch-up to get back in working order. Read more