Former U.S. Secretary of Defense James Mattis testified on Wednesday in Elizabeth Holmes’ federal fraud trial that she misled him into believing the Theranos technology could save the lives of troops in battle. Four-star Gen. Mattis testified that he first met Holmes in 2011 while still serving in the Marine Corps. where he oversaw troops […]
First Theranos patient takes the stand, defense begins to shift blame onto Sunny Balwani
A former Theranos patient took the stand at Elizabeth Holmes’ federal fraud trial to testify that the blood testing technology inaccurately showed she was having a miscarriage. Brittany Gould testified on Tuesday that she had taken two Theranos blood tests at a Walgreens location in Arizona that both indicated her hCG levels were dropping, according […]
Boston Scientific to acquire Devoro Medical and its Wolf thrombectomy platform
Boston Scientific today announced that igt has entered an agreement to acquire Devoro Medical for more than $269 million. Marlborough, Massachusetts–based Boston Scientific has been a strategic investor in Devoro Medical since 2019, according to the company. It has an equity stake of approximately 16%. The transaction will consist of an upfront payment of approximately […]
Former Theranos scientist testifies to blood test inaccuracies prior to Walgreens deal in Elizabeth Holmes trial
A former Theranos scientist testified on the inaccuracies of the company’s device during Elizabeth Holmes’ federal fraud trial. Surekha Gangakhedhar worked at Theranos from 2005 to 2013 and reported directly to Holmes at one point. She testified on Friday that Holmes allegedly pressured her to validate blood test results to speed up a rollout of […]
Theranos whistleblower testifies to blood analyzer inaccuracies in Elizabeth Holmes fraud trial
One of Theranos’ whistleblowers testified on the inaccuracies in the blood analyzers that Theranos had touted to investors on the third day of Elizabeth Holmes’ federal fraud trial. Erika Cheung, a former Theranos lab associate, testified yesterday that the machines the company was using to conduct patient blood tests had inaccuracies of quality control test […]
First witnesses in Elizabeth Holmes federal fraud trial take the stand
Two of the prosecution’s witnesses took the stand yesterday on the second day of Elizabeth Holmes’ federal fraud trial. Theranos’ former financial controller San Ho Spivey, who is referred to as Danise Yam, took the stand and testified about the company’s financial condition during its heyday. Yam told Assistant U.S. Attorney Robert Leach that Theranos […]
Xenter taps former Medtronic exec to head medical technologies unit
Xenter today announced that it has appointed Mark Turco as president of its Xenter Medical Technologies business unit. Turco most recently served as executive vice president of research & development and global chief medical officer at Sirtex Medical. He has also served as chief medical officer of Covidien and later as vice president and chief […]
Tactile Medical Systems acquires Afflovest
Tactile Systems this week announced that it has acquired the assets of the AffloVest respiratory therapy business from International Biophysics. Minneapolis-based Tactile Medical financed the transaction through a combination of cash on hand and $55 million of borrowings under an existing credit facility. The credit facility is provided by Wells Fargo Bank. AffloVest is a […]
Madorra wins FDA breakthrough nod for home vulvovaginal atrophy treatment device
Madorra this week said it has received FDA breakthrough device designation for its noninvasive, home-use device for moderate to severe vulvovaginal atrophy. Through the breakthrough device program, Madorra will have priority review and communication regarding the development of the device until the product goes on the market. Madorra’s handheld device is designed as a prescription, […]
Elizabeth Holmes trial opens, accused of ‘lying and cheating’
Ex-Theranos CEO Elizabeth Holmes’ federal fraud trial began with federal prosecutors claiming she lied and cheated to get money. The prosecutors alleged on opening day yesterday that Holmes was manipulative and knowingly defrauded investors and patients through false and misleading claims, according to media reports. “This is a case about fraud, about lying and cheating […]
Envista selling its KaVo unit to Planmeca for up to $455M
Envista this week announced that it has entered into a binding agreement to sell its KaVo treatment unit and instrument business to Planmeca for up to $455 million. Through the deal, Planmeca will pay up to $455 million with a potential earn-out payment of up to $30 million. The sale is expected to close at […]
