Post-scandal Olympus gets offers from Terumo, Fujifilm, Sony | On Call

MassDevice On Call

MASSDEVICE ON CALL — A post-scandal Olympus (PINK:OCPNY) is considering strategic alliances to boost investor confidence, having received at least 3 offers from potential partners.

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.

Woodford has since given up trying to regain control of the Japanese tech giant and has remade himself as something of a media celebrity, with plans to release books and take on speaking engagements.

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, 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.

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