Boston Scientific (NYSE:BSX) is set to lay off 106 employees in Minnesota following the retirement of its Lotus Edge device, according to reports.
Bring Me the News reported that the company is permanently laying off the 106 workers at its Maple Grove, Minn. location, having notified the state of Minnesota via a WARN letter, as is required by law. The layoffs will begin on Jan. 19, 2021.
The letter stated that, as a result of the voluntary recall and retirement of its Lotus Edge transcatheter aortic valve repair (TAVR) system announced yesterday, the operational unit associated with it will be closed and the employees will be laid off.
“Unfortunately, the decision to stop investing in the Lotus Edge platform means we will immediately stop all associated production and new product development activities, resulting in the elimination of certain roles,” a Boston Scientific spokesperson told MassDevice via email. “At this time, we anticipate that approximately 100 Minnesota-based and field roles will be eliminated, and we are actively seeking to reduce any impacts through redeployments within Boston Scientific. Approximately 40 of those roles are located in Minnesota. The field-based roles are located throughout the country, and report into the interventional cardiology division which is based in Minnesota.”
The spokesperson noted that the company is not communicating a company-wide number at this time because it is actively seeking to reduce job loss through redeployments within the company. When a change impacts an employee, Boston Scientific has resources in place to support those in transition, the spokesperson said.
Marlborough, Mass.-based Boston Scientific said in a news release yesterday that the recall of all unused inventory of its Lotus Edge transcatheter aortic valve repair (TAVR) system is due to complexities related to the product delivery system and solely that — as the valve has achieved positive and clinically effective performance post-implant.
Because of the additional time and investment required to develop and reintroduce an enhanced delivery system, Boston Scientific officials decided to retire the Lotus product platform immediately, ceasing all related commercial, clinical, research & development and manufacturing activities.
