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. Studies criticize U.S. medical device approval process
Information on the safety and effectiveness of medical devices before and after they are cleared by U.S. health regulators can be improved, according to 2 new studies.
One study found many FDA-cleared medical devices meant to be implanted in the body were not backed by publicly available evidence that they are similar to a device already on the market. Read more
2. In Massachusetts governor’s race, the medical device tax has no friends
The next Massachusetts governor won’t be spending any political capital defending the medical device tax, a 2.3% excise tax on U.S. medtech sales. Both of the leading candidates told MassDevice.com yesterday that they would push for a federal appeal and consider a tax credit to offset the levy.
The Democratic nominee, Massachusetts attorney general Martha Coakley, told MassDevice.com in an interview yesterday that as governor she would urge the Bay State’s congressional delegation to push for a repeal of the medical device tax and would be willing to consider a tax credit for medtech companies in the Commonwealth. Read more
1. Activist investor erupts at Volcano
A California activist investor upped its pressure on Volcano yesterday, scolding the company for its $115 million AtheroMed acquisition and missing chances to sell itself at a premium, and threatening a move to oust chairman Ron Matricaria and CEO Scott Huennekens.
San Diego-based Volcano makes precision-guided medical devices, including intravascular ultrasound systems to gauge potential blockages in blood vessels, and functional measurement guidewires to analyze pressure and flow parameters from inside a vessel. Read more