Joint replacement implant maker Conformis (NSDQ:CFMS) is improperly using a Colorado man’s denial of benefits lawsuit to force Aetna to cover its customized knee implants, the health insurer recently argued in a federal court filing. Billerica, Mass.-based Conformis joined John Michael Schaub of Golden, Colo., in his lawsuit against Aetna, filed in May in U.S. District Court […]
How is COVID-19 affecting medtech deals?
Fewer medical device companies are securing their first big venture capital investments — or engaging in large mergers — amid the COVID-19 pandemic, according to recently released reports from Silicon Valley Bank and PwC. The medical device industry saw 38 Series A investments worth $279 million during the first half of 2020, down from 45 […]
The top 5 medtech stories of the week — July 24, 2020
COVID-19 is surging back in the U.S., new jobless claims are up, but MassDevice’s most-read stories this week were mostly optimistic. That’s the takeaway from our inaugural MassDevice Top Five — a weekly recap of the most-read stories on MassDevice, the online business journal of the medical device industry. Want to hear more about the […]
Edwards Lifesciences Q2 results are better than expected
Edwards Lifesciences (NYSE:EW) stock has jumped in after-hours trading after the company reported Street-beating Q2 results and boosted it earnings outlook. The Irvine, Calif.–based artificial heart valves and hemodynamic monitoring company reported a loss of –$122 million, or –20¢ per share, off $925 million in revenue during the quarter ended June 30. For the same quarter […]
Theranos founder Elizabeth Holmes’ trial likely won’t take place until next year
A federal just in California this week signaled that the trial of ex-Theranos CEO Elizabeth Holmes and president Sunny Balwani likely won’t happen until next year. The COVID-19 pandemic had already caused Judge Edward Davila to push the trial start date back to October. Davila indicated during a July 20 hearing held over Zoom that […]
Hackers targeted medtech and other IP for Chinese government, indictment claims
A federal grand jury in Spokane, Wash. has indicted two Chinese nationals on charges that they hacked into medtech companies and hundreds of other businesses, governments and organizations — in some cases on behalf of the Chinese Ministry of State Security. The 11-count indictment, which the U.S. Department of Justice announced today, alleges that Li […]
Intuitive Surgical sales down more than a fifth in Q2
Intuitive Surgical (NSDQ:ISRG) posted second-quarter results today that beat Wall Street expectations — but the results still showed how much the COVID-19 pandemic has damaged sales for surgical robotics companies. The Sunnyvale, Calif.-based robot-assisted surgery company — the dominant player in the space — reported profits of $68 million, or $0.57 per diluted share, on sales […]
FDA clears Ambu single-use duodenoscope
Ambu announced today that FDA has cleared its aScope Duodeno — a sterile, single-use duodenoscope meant to avoid the deadly superbug outbreaks that cropped up around reusable versions of the scopes. Other companies — including Boston Scientific (NYSE:BSX), Hoya’s (TYO:7741) Pentax subsidiary, and Olympus (TYO:7733) — have been releasing either fully disposable duodenoscopes or duodenoscopes with disporable endcaps […]
Johnson & Johnson to take its time on general surgery robot
Johnson & Johnson (NYSE:JNJ) has decided not to follow a 510(k) clearance pathway for its planned general surgery robot — with a goal to start first-in-human studies with the system by the second half of 2022. That was one of the major pieces of information to come out of the New Brunswick, N.J.–based company’s quarterly earnings […]
Caption Health raises $53m for its AI ultrasound software
Caption Health (Brisbane, Calif.) has raised $53 million in a Series B round as it seeks to further develop and commercialize its FDA-cleared, AI-guided ultrasound technology. Existing investor DCVC led the round, announced yesterday. New investors Atlantic Bridge and cardiovascular medical device leader Edwards Lifesciences also participated, along with existing investor Khosla Ventures. Caption Health […]
Mayo Clinic performs first shoulder arthroplasty with Wright Medical mixed reality tech
Wright Medical (NSDQ:WMGI) today announced the first shoulder arthroplasty procedure performed using its Blueprint mixed reality technology. Dr. Joaquin Sanchez-Sotelo performed the procedure at Mayo Clinic’s Rochester, Minn. campus, with the Blueprint software providing a 3-D holographic view of the pre-operative plan. “This procedure is an important milestone for shoulder arthroplasty and marks a major step […]