Coming off of an accounting scandal that cut the company's assets by nearly 30%, Olympus may look to raise investor confidence through strategic alliances.
Would-be allies include Terumo Corp. (TYO:4543), Fujifilm Holdings (TSE:4901) and Sony Corp. (TYO:6758), but new president Hiroyuki Sasa isn't yet set on which direction to take the recovering endoscopic giant.
"My stance on forming partnerships is still neutral as we will first work on our business plans and then decide if we need partners," Sasa told Bloomberg.
Sasa ran the company's medical device business prior to taking the corner office amid protest following the resignation of the entire board of directors at the company's last shareholders' meeting.
Olympus, which has a corner on 70% of the endoscopic camera market, was rocked by a $1.7 billion accounting scandal exposed by former CEO Michael Woodford, who was sacked mid-October 2011 after only 2 weeks on the job.
Mass. General Hospital doctor sues for right to his inventions
Dr. Joseph Grocela filed a lawsuit against Massachusetts General Hospital, where he practices medicine, for the rights to inventions that he claims he devised in his home workshop, Boston.com reported.
FDA to providing funding for controversial Reagan-Udall foundation
The FDA is among the funders for the non-profit Reagan-Udall research foundation, a group formed by Congress in 2007 with aims to support the FDA's scientific mission by supporting research in areas where the FDA lacks expertise, which has some worried that the organization may inadvertently provide a means for the med-tech industry to influence FDA decisions, NPR reported.
Top docs launch "Choosing Wisely" campaign to cut down on unnecessary medical tests
Doctors from nationwide medical societies joined forces to launch the "Choosing Wisely" campaign, aimed at reducing the number of unnecessary medical tests that they say are a driving force in the U.S.'s unwieldy health care costs, CBS News reported.
Metal-on-metal hips not a cancer risk, study says
Patients who received all-metal hip replacement implants were no more likely to develop cancer after 7 years than the general population, Bloomberg reported.
Here's a look at some of the top funding stories for medical device companies this week.
FDA officials warn against the use of "laparoscopic power morcellation" for the removal of uterine...
Bio-artificial liver maker Vital Therapies takes its IPO even lower, now planning to open at $12 per...
California surgical devices maker Cardica details a public offering of common and preferred stock...