Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 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.
3. Orthofix jumps on restated financials, eNeura deal
Orthofix said it inked an agreement to potentially pay at least $65 million for eNeura and its home migraine treatment device, even as it restates 3 years of financial results in a bid to address past accounting discrepancies.
Lewisville, Texas-based Orthofix, which is domiciled in Curacao, also reported a swing to 3rd-quarter profits last year on sales growth of 10%, compared with Q3 2013. Read more
2. NuVasive ousts CEO Lukianov over expense, personnel violations
NuVasive Inc.said that it ousted longtime chairman & CEO Alex Lukianov over violations of its internal expense account and personnel policies, naming board member Greg Lucier interim CEO and chairman while it looks for a replacement.
Lead independent director Jack Blair said an outside investigation found that Lukianov “had not complied with certain of the company’s expense reimbursement and personnel policies.” Read more
1. Medtronic takes another crack at renal denervation
Medtronic said it’s taking another crack at renal denervation as a treatment for hypertension with the launch of a clinical trial to examine the “confounding factors” that contributed to the high-profile failure of a prior trial.
Back in January 2014, Fridley, Minn.-based Medtronic shocked medtech when it announced that the highly anticipated Symplicity-3 trial failed to meet its efficacy endpoint. The company suspend enrollment in its other Symplicity trials around the world and later took a $200 million writedown on its renal denervation assets. Read more