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 hits 52-week high on strong Q2 results
Shares of Medtronic hit a 52-week high today on the strength of its 2nd-quarter results, peaking at $72.74 apiece.
MDT shares closed at $72.47 each, for a 4.7% gain on the day. Read more
2. Study: St. Jude Medical’s CardioMEMS device slashes readmission rates
The CardioMEMS implantable heart failure monitor acquired earlier this year by St. Jude Medical significantly reduced 30-day hospital readmissions in Medicare-eligible patients – a key driver of the $227 million paid in readmission penalties by hospitals last year – according to a retrospective analysis of St. Jude’s Champion trial.
The study showed a 58% reduction in all-cause readmissions and a 78% reduction in heart failure readmissions in patients with Class III heart failure age 65 and older who’d been hospitalized within the prior year, St. Jude said. The research was presented this week during the American Heart Assn.’s annual meeting in Chicago, according to a press release. Read more
1. Eyesight to the blind: Second Sight prices $32m IPO
Second Sight Medical said that it expects to reap nearly $32 million when its shares debut on the public market.
Sylmar, Calif.-based Second Sight, which makes the Argus II “bionic eye” device, priced its 3.5 million-share initial public offering at $9 per share. The stock is expected to begin trading today on the NASDAQ exchange under the “EYES” ticker symbol. Read more