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. Medtronic launches new sinus surgery device
Medtronic said today that it’s launching a new sinus surgery device, NovaShield, for functional endoscopic sinus surgery.
The NovaShield device consists of a chitosan-based injectable nasal packing and a stent, according to a press release. The FDA granted 510(k) clearance for the device in October, Medtronic said. Read more
2. FDA honcho Maisel: Study could downgrade some high-risk devices
The FDA is about halfway through a retrospective study of its pre-market approval program, a review that could result in some devices being removed from the highest-risk category, according to Dr. Bill Maisel, deputy director for science at the FDA’s Center for Devices & Radiological Health.
Maisel, speaking before a group of medtech executives in Waltham, Mass., yesterday, said the FDA would be completing its review of the PMA program in 2015. Read more
1. Medtech M&A explodes in 2014
Merger & acquisition activity surged this year in the medical device industry, with both the number and value of deals climbing to new heights after years of decline, according to a MassDevice.com analysis.
The number of deals during 2014 rose 39.0% to 57, from 41 in 2013, according to our look at transactions with announced values. But the real news is the surge in valuations: The total value of those 57 deals soared 504.1% to $86.39 billion, compared with just $14.3 billion last year. Read more