iRhythm Technologies (Nasdaq:IRTC) officials think their company’s wearable heart monitoring tech could serve millions more patients, tripling company revenue to more than $1 billion by 2027. That was a big takeaway from the company’s 2022 Analyst & Investor Day news release today. “Our technology platform is well suited to meet the needs of an evolving […]
Medtronic fully launches its next-gen TAVR in U.S.
Medtronic (NYSE: MDT) marked the start of the TCT 2022 conference today by announcing the full U.S. launch of its Evolut FX TAVR system. The medtech giant’s next-generation TAVR won FDA approval in 2021, followed by a limited roll out earlier this year. Edwards Lifesciences —Medtronic’s major U.S. competitor in the transcatheter aortic valve replacement […]
FDA approves new research around Abiomed Impella heart pumps
Abiomed (Nasdaq: ABMD) said today that FDA has approved clinical research into using Impella heart pumps in severe heart attack patients with cardiogenic shock. The FDA has approved the on-label Recover IV randomized controlled trial involving acute myocardial infarction (AMI) cardiogenic shock patients. The two-arm trial will assess whether Impella support before percutaneous coronary intervention […]
J&J announces $5B share repurchase
Johnson & Johnson (NYSE: JNJ) announced today that its board has authorized a $5 billion repurchase of its common stock. “The last few years have demonstrated the resilience of Johnson & Johnson. With continued confidence in our business and pipeline, the board of directors and management team believe that company shares are an attractive investment […]
Augmedics founder leaves company
More than eight years after founding Augmedics, Nissan Elimelech is leaving the developer of augmented reality surgical guidance systems. Elimelech stepped down from the corner office in January to make way for former Bardy Diagnostics CEO Kevin Hykes. Elimelech stayed on in a chief product officer role. But in a LinkedIn post today, Elimelech said: […]
Investors sue Medtronic over insulin pump problems
Add a potential class action shareholder lawsuit to the challenges Medtronic (NYSE: MDT) is facing over its Diabetes business. The law firm of Kessler Topaz Meltzer & Check announced last week that it has sued the medtech giant in U.S. District in Minnesota, claiming securities fraud over how it disclosed insulin pump problems. The initial […]
J&J settles big Australian pelvic mesh case
Johnson & Johnson (NYSE: JNJ) has settled an Australian pelvic mesh class action suit for AU$300 million (roughly U.S. $205 million), according to media reports. Shine Lawyers, which handled the suit, confirmed the settlement. It still requires court approval. More than 11,000 claimants in Australia had sought relief, according to Reuters. In a statement shared […]
Philips faces legal scrutiny in France over respiratory devices recall
Problems continue to mount around the massive respiratory device recall at Royal Philips (NYSE:PHG). Reuters reported today that French prosecutors have opened a preliminary investigation into the recall, citing a text message from a Paris public prosecutor’s office spokesperson. In the U.S., the FDA and federal prosecutors are increasingly scrutinizing how Philips has handled the […]
What are the largest medical device companies?
Medtronic, Johnson & Johnson MedTech and Siemens Healthineers top the Big 100 list of largest medical device companies by revenue. The 2022 edition of MassDevice and Medical Design & Outsourcing‘s Big 100 report also holds surprises. Big conglomerates are spinning out medtech businesses as stand-alone companies, and that means changes to the list of the […]
Illumina clears antitrust hurdle related to merger with Grail
Illumina (Nasdaq:ILMN) announced today that an administrative law judge in the U.S. has rejected the Federal Trade Commission’s argument that the company’s $8 billion acquisition of Grail was anti-competitive. More than a year after the deal closed, Illumina is still keeping Grail operating as a separate internal entity under a European Commission order. An Illumina […]
FDA clears eCential Robotics’ spine surgery robot
French robotic spine surgery tech company eCential Robotics announced today that it has received FDA clearance for its 3D imaging, navigation and robotics guidance system. With the help of recent partnerships with U.S. implant companies, Gières, France–based eCential Robotics plans to start selling its surgical robotics system in North America. The company has already sold […]