Analyst says BSX may take CRM lead | Medtech Wall Street news for the week of September 29, 2014

Analyst: Boston Scientific could take CRM lead

September 25, 2014 by Alexander Soule

Boston Scientific might lack a truly leadless pacemaker, unlike rivals Medtronic and St. Jude Medical, but it still might be in the best position to gain share in the cardiac rhythm management market, according to Leerink Swann analyst Danielle Antalffy.

Traditional pacemakers are inserted adjacent to the heart and use “leads” to deliver impulses to maintain regular heartbeat. St. Jude acquired a “leadless” pacemaker when it acquired Nanostim in October 2013, with Medtronic seeking approval for its own Micra version of the the technology. Read more

Orthofix CFO bails after 6 months amid deepening financial fix

September 25, 2014 by Alexander Soule

Orthofix CFO Mark Heggestad is stepping down just 6 months into his tenure, even as the medical device company’s 3-year financial restatement yesterday deepened on new problems with its inventory controls.

Orthofix promoted its chief accounting officer Doug Rice to replace Heggestad, who took over May 9 from interim CFO David Ziegler. Longtime CFO Emily Buxton had been replaced in April after a decade as Orthofix’s financial chief. Heggestad, who is slated to stay on as an outside consultant, is leaving due to “personal circumstances,” Orthofix said. Read more

Fourth time's the charm: pSivida, Alimera jump on FDA nod for Iluvien

September 29, 2014 by Brad Perriello

After 3 rejections, the FDA approved the Iluvien diabetic macular degeneration drug/device treatment co-developed by Alimera Sciences and pSivida, sending both companies’ stock up today on Wall Street.

Iluvien, an injectable implant, was approved to treat DME, a swelling on the back of the retina that in the most severe cases can lead to blindness. It’s a tiny cylinder implanted in the back of the eye that’s designed to deliver small doses of a corticosteroid, fluocinolone acetonide, for 36 months. Read more

Echo Therapeutics is on the ropes

September 25, 2014 by Alexander Soule

After warning in August it had sufficient capital to last it only until November, Echo Therapeutics abruptly suspended operations, saying its cash resources will be drained by the end of September and raising the specter of a bankruptcy filing.

Philadelphia-based Echo Therapeutics has been developing a wireless system it calls Symphony for the continuous monitoring of blood glucose levels in hospitals.  Read more

Activist investor erupts at Volcano

September 30, 2014 by Alexander Soule

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