NeuroMetrix (Nasdaq: NURO) second-quarter results took a hit from challenges related to reimbursement changes at CMS, but Quell Fibromyalgia saw positive trends. The Woburn, Massachusetts–based company’s Quell neuromodulation device won FDA de novo nod to treat fibromyalgia in May 2022. The company had 123 unique prescribers for the fibromyalgia therapy in Q2, versus 92 in […]
Abbott has a serious recall involving its Amplatzer delivery sheath
The FDA today said an Abbott recall involving its Amplatzer steerable delivery sheath is Class I, its most serious level. Launched in the U.S. in April 2022, the Amplatzer sheath delivers Abbott’s Amplatzer Amulet left atrial appendage occluder. Competing against Boston Scientific’s Watchman, Amplatzer Amulet provides complete occlusion in order to reduce the risk of […]
3M to name CEO for Health Care spinoff soon
3M officials say they remain on track to spin off the company’s Health Care business by late 2023 or early 2024. “We’ve made good progress on our planned spin of our Health Care business, including regulatory filings and system updates in preparation for a soft spin [in November]. We’re also in the final steps of […]
Philips stock down on ‘lumpy’ order intake in Q2
Philips today reported 9% year-over-year sales growth in its second quarter, but investors appeared to sour on an 8% decline in comparable order intake. The Dutch medtech giant’s stock closed down more than 5% at €19.63 apiece on the Amsterdam stock exchange today. PHG shares were also down more than 5% at 21.84 apiece on […]
Abbott beats The Street in Q2 — ups sales growth forecast
Abbott today announced second-quarter results that beat the consensus of Wall Street analysts — boosting its full-year organic sales growth forecast. The company has now seen two quarters in a row of double-digit organic sales growth in its underlying business. Even as COVID-19 test sales continue to decline and hammer overall revenue, Abbott officials are […]
FTC critiques Medtronic’s legal reasoning in antitrust case
The U.S. Federal Trade Commission wants to have a say in Applied Medical Resources’ antitrust lawsuit against Medtronic. Rancho Santa Margarita, California–based Applied Medical filed the lawsuit in February in U.S. District Court in Central California. The lawsuit accuses the medtech giant of using its size to shut down competition in the U.S. market for […]
Former DePuy Synthes sales rep accused of defrauding Boston area hospital
Federal prosecutors claim a former DePuy Synthes sales representative defrauded an undisclosed Boston area hospital, with hundreds of thousands of dollars worth of spine products involved. According to a federal grand jury indictment announced this week in Massachusetts, Matthew Capobianco falsely represented on usage forms that more—and more expensive—Johnson & Johnson DePuy products were used […]
Enovis completes Novastep acquisition
Enovis (NYSE: ENOV) announced today that it has completed its purchase of Novastep and its foot and ankle minimally invasive surgical (MIS) platform. The financial terms of the deal were undisclosed. Novastep generates about $20 million in annual revenue. “We are excited to welcome Novastep’s talented team to Enovis where we will work together to develop […]
Precision Lens owner dies in plane crash
Precision Lens owner Paul Ehlen died yesterday in Montana, shortly after taking off in a World War II vintage P-40E on the way back to Minneapolis. Precision Lens confirmed Ehlen’s death in a statement shared with Twin Cities media outlets: “Paul had a passion for restoring and flying vintage military aircraft, and he was killed […]
Medline is having a leadership transition at the top
Medline announced today that it is promoting from within to fill CEO and president positions opening up at the privately-held medtech giant. Jim Boyle is taking over the corner office at Medline, effective Oct. 1. Boyle has been at Medline since 1996 and has served as EVP since 2018, managing the company’s customer base of […]
Telefex recall of Arrow catheter system is Class I
The FDA today designated Teleflex’s recall of its Arrow Endurance extended dwell peripheral catheter system as Class I, the most serious type of medical device recall. The recall involved 262,016 devices distributed from October 26, 2018, to May 10, 2023, according to the FDA. Teleflex and its Arrow International subsidiary have reported 83 complaints related […]