Doctors attempt first ever stem cell treatment for stroke patient. Doctors in Scotland injected stem cells into a man’s brain in an attempt to treat the disabilities that resulted from a stroke, according to the BBC.
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Ronda Stryker is at it again
Ronda Stryker, the granddaughter of Stryker Corp. (NYSE:SYK) founder Homer Stryker, sold off another piece of her stake in the Kalamazoo, Mich.-based medical device maker.
In a series of trades between Nov. 3 and Nov. 15, Stryker sold 340,000 shares for an average of $52.01 per share, bringing in $17.6 million. The sales pared her stake by about 1 percent.
Stryker shares traded for an average of $51.89 during that period.
St. Jude sets share exchange rate for AGA Medical takeover
St. Jude Medical Inc. (NYSE:STJ) set the share exchange rate for its $1.3 billion half-cash, half-stock acquisition of AGA Medical Holdings Inc. (NSDQ:AGAM).
The St. Paul, Minn.-based medical device maker said it plans to provide AGA shareholders with 54 percent of a STJ share for every one AGAM share exchanged.
FDA to defib makers: Fix the problems with AEDs
The Food & Drug Administration today announced a program for improving the safety and efficacy of automated external defibrillators.
The federal watchdog agency said it’s received 28,000 reports of AED failures in the last five years, yet 300,000 Americans could benefit from treatment from the devices every year.
AEDs are designed to treat cardiac arrest and both diagnose and treat abnormal heart rhythms. While some external defibrillators and intended for medical professionals, AEDs are turning up in homes and public locations with simpler designs.
Earnings roundup: Bacterin sales triple, but losses increase
Nonprofit launches electronic health records safety tracker
iHealth Alliance, a nonprofit organization that represents the interests of healthcare providers and their malpractice insurance companies, launched a website to track safety issues related to the use and implementation of electronic health records.
Insurance companies and the Food & Drug Administration plan to use information collected on the system, called EHRevent, to develop educational literature regarding patient safety and EHRs.
Paradigm BioDevices asks Mass. court to enforce British contract ruling
Paradigm BioDevices Inc. expanded its litigation against Centinel Spine Inc. to include its investors and a related company in the U.S. District Court for Massachusetts.
In order to recoup a financial reward that the U.K. High Court ordered the companies to pay over a contract dispute, Paradigm BioDevices filed a suit against Centinel Spine investor Viscogliosi Bros. and their portfolio company Paradigm Spine LLC, in addition to Centinel.
Ricerca Biosciences branches out
Faced with a recent slowdown in much of the contract research organization industry, Ricerca Biosciences LLC has tweaked its focus to solidify its future.
The Concord Township, Ohio-based company has shaken up its client base to include more pharmaceutical firms and is growing its Asian operations to take advantage of the increasingly lucrative market.
Medtronic looks to reverse Physio-Control’s fortunes
Medtronic Inc. (NYSE:MDT) unwrapped new enhancements to Physio-Control Inc., hoping to ignite a spark in its on again/off again defibrillator subsidiary.
The Fridley, Minn.-based company débuted Lifenet System 5.0, its next generation Internet-based data network, at the annual American Heart Assn. meeting in Chicago today.
Personnel moves: Covidien pharma president Wright bows out
- Covidien pharma president Wright bows out
Timothy Wright resigned as Covidien plc’s (NYSE:COV) senior vice president and president of its pharmaceuticals segment, effective Dec. 2, according to a Securities & Exchange Commission filing. Pharma CFO Matthew Harbaugh will serve as interim president of the segment until Wright’s successor is found, according to the filing.
Tennessee biosensor firm NanoDetection heads to Ohio
Lured by an anticipated $2 million investment round, Tennessee diagnostic device company NanoDetection Technology is moving to Cincinnati.
The new funding will allow the company to complete the clinical trials necessary to get its device on the market, which NanoDetection hopes to do by 2013, according to a statement from CincyTech, a public-private investment group that contributed $250,000 to the deal. The group obtains funding through Ohio’s Third Frontier initiative, which is designed to support high-tech jobs in the state.