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.
Get this in your inbox everyday by subscribing to our newsletters.
When it comes to the largest medical device companies, it’s a changing cast of players – as demonstrated once again in Medical Design & Outsourcing’s latest Big 100 list.
We pulled financial regulatory filings and reached out major companies to create a list of the 100 largest medical device companies in the world, ranked by annual revenue for their medical device operations. Now we’re going to count down the top 20, starting with Nos. 20–11 today. Read more
Titan Medical announced the installation of its SPORT Surgical System, a single-port robotic surgical system, at the Florida Hospital Nicholson Center training facility. It’s the first installation for the company’s pre-clinical feasibility and validation studies on the device.
“We are thrilled to announce the first of three installations planned in U.S. and European Centers of Excellence in 2017. I am pleased with the focus and execution of our team as we deliver this first system ahead of our fourth quarter milestone projection,” Titan president and CEO David McNally said in a press release. “We look forward to beginning pre-clinical feasibility and validation studies in the coming weeks in a variety of surgical disciplines. Based on surgeon enthusiasm, we remain confident in the tremendous potential of single port robotic surgery to improve the physician experience as well as surgical outcomes.” Read more
Micell Technologies said last week that it raised a debt-and-equity round worth nearly $62 million from a syndicate of 51 unnamed investors.
Paris-based Micell makes the MiStent SES sirolimus-eluting absorbable polymer coronary stent, designed to treat coronary artery disease. The company, which reported a nearly $26 million round last November, said in a regulatory filing that the funding involved debt, equity and preferred return notes. Read more
Hill-Rom Holdings won a $45 million contract with the U.S. Defense Dept. to provide hospital equipment and accessories to the military and federal agencies.
The Batesville, Ind.-based Hill-Rom unit that landed the five-year deal beat out 26 other bidders for the contract, the Pentagon said. There are no renewal options on the deal. Read more
Federal prosecutors in Ohio last week charged the former director of Cleveland Clinic Innovations, Gary Fingerhut, of participating in a $2.7 million fraud scheme.
Fingerhut was fired in 2015 after the FBI contacted the clinic of financial transactions that violated the hospital system’s internal policies. Cleveland Clinic Innovations is the commercialization arm of the clinic, created to form spinouts based on clinic-developed technologies. Fingerhut joined CCI as general manager for IT commercialization in 2009 and was named executive director in 2013. Read more