COVID-19 continues to batter medical device companies — not to mention the world as a whole. But some of this week’s top five MassDevice stories demonstrate that medtech companies continue to innovate and ink business deals as they look toward a post-pandemic future. Want to hear more about the week’s top news? Executive editor Chris […]
Federal appeals court rejects preemption argument from BD’s Bard
The 9th U.S. Circuit Court of Appeals has handed down an important medical device preemption opinion as it affirmed a $3.6 million award against Becton Dickinson & Co. (NYSE:BDX) subsidiary C.R. Bard in a bellwether lawsuit case over inferior vena cava filters. Bard’s lawyers had argued that when FDA reclassified intravascular filters as Class II devices, the […]
TransEnterix appoints CFO
Robotic surgery company TransEnterix (NYSE: TRXC) announced today that it has hired Shameze Rampertab as its news EVP and CFO. “We are delighted to welcome Shameze to our team during this important time in TransEnterix’s journey,” TransEnterix CEo Anthony Fernando said in a news release. “His extensive experience at implementing financial strategies and sourcing equity and debt […]
Titan Medical reports improved financial position at end of Q2
Titan Medical (TSX:TMD;OTC:TITFX) faced a working capital deficit of $9.7 million more than a year ago. Fast forward 12 months, and the robotic surgery company has $21.7 million in working capital and has been able to resume product development. That seems to be the big takeaway from Titan Medical’s second-quarter earnings report, released yesterday. Titan executives […]
The top digital health startups in the world
About two-fifths of the startups in CB Insights’ second annual Digital Health 150 list are engaged in telehealth, a high-demand area amid the COVID-19 pandemic. That is one of the big takeaways from the list of 150 promising digital health startups that CB Insights released today. CB Insights’ research team picked the 150 startups after […]
CMS proposes coverage updates that could increase access to VADs
The Centers for Medicare & Medicaid Services (CMS) today proposed coverage policy updates meant to increase access to VADs and artificial hearts. The policy updates, if approved, could be good news for major VAD makers Abbott (NYSE:ABT) and Medtronic (NYSE:MDT) — as well as people with heart failure who are waiting for a heart transplant or don’t […]
Theranos founder Elizabeth Holmes’ trial to start in March
Ex-Theranos CEO Elizabeth Holmes’ federal fraud trial will now start in March 2021 amid delays related to the COVID-19 pandemic. Judge Edward Davila decided yesterday that jury selection will start on March 9, with opening arguments taking place around March 16 in U.S. District Court in San Jose, Calif. It is possible that some or […]
Russia claims to have first COVID-19 vaccine
Russian officials announced today that they will make a COVID-19 vaccine available to its citizens on a voluntary basis, with President Vladimir Putin saying the vaccine has gone through all necessary tests. The vaccine, developed at by the Gamaleya Institute in Moscow, will first become available to medical workers, teachers and at-risk groups. Kirill Dmitriev, […]
Hologic spending more than $50M to expand COVID-19 test production
Hologic (NSDQ:HOLX) is spending $50 million — including $14 million during its most recent quarter — to boost its production of COVID-19 tests. The U.S. government is providing $7.6 million to support the effort. The investment, which CEO Stephen MacMillan outlined during a July 29 earnings call, includes installation of new high-speed filling lines and investment […]
3M lays off another 1,700 workers
3M (NYSE:MMM) laid off another 1,700 workers during its second-quarter — with many of the jobs related to the company’s divested drug delivery business. The layoff — announced as part of an SEC filing on July 28 — comes after the Maplewood, Minn.–based manufacturing conglomerate said early this year that it would lay off 1,500 workers […]
J&J’s Ethicon touts surgical stapler study
Ethicon — part of Johnson & Johnson (NYSE:JNJ) — is highlighting new study results in which its Echelon powered stapler with gripping surface technology (GST) had a lower rate of bleeding-related complications than a competing Medtronic product. Ethicon funded the peer-reviewed study, which appears online in Medical Devices: Evidence and Research. The study compared the Echelon […]