NMT Medical Inc. (NSDQ:NMTI) isn’t letting a little snow get in its way. Having salvaged an offering of stock, debt and warrants delayed by a February blizzard with a $6 million private placement, the company filed another registration for a similar, $30 million public offering with the Securities and Exchange Commission.
Cordis Corp. tapped the lead investigator in clinical trials of its Cypher drug-eluting stent, Dr. Christian Spaulding, to be its worldwide vice president of medical affairs.
The Johnson & Johnson (NYSE:JNJ) subsidiary said Spaulding will lead its global clinical strategy starting June 1 from his home base in Paris.
ATS Medical Inc. (NSDQ:ATSI) won a nod north of the border for its Simulus rings to repair defective heart valves.
The Minneapolis-based medical device maker said Health Canada, the Canadian equivalent of the Food & Drug Administration, cleared its mitral and tricuspid valve repair rings for sale in that country.
Medtronic Inc. (NYSE:MDT) launched what’s expected to be a 1,000-patient study of a catheter-based system it hopes will become a less-invasive — and highly lucrative — alternative to open-heart surgery for valve replacement.
Medtronic’s CoreValve system allows a replacement heart valve to be placed in a patient’s body via a catheter inserted in the femoral artery, near the groin. A catheter is a thin, flexible tube that can be inserted into a body cavity to open a passageway or to allow fluids to pass through.
It’s shaping up to be a tough day for Medtronic Inc. (NYSE:MDT), as news of a federal false claims investigation follows questions from the Food & Drug Administration about a study of one of its deep-brain stimulation devices.
The Fridley, Minn.-based medical devices monolith revealed in a March 10 securities filing that the U.S. Attorney for Massachusetts issued a "civil investigative demand" Feb. 22 for documents in a false claims probe into the relationship of its CoreValve subsidiary with the Burlington, Mass.-based Lahey Clinic, "specifically relating to cardiologists at the clinic, CoreValve Inc. … and the Lahey Clinic, and certain employees of both [Medtronic] and the clinic, among other topics."
Boston Scientific Corp. (NYSE:BSX) may have won the most recent round in its stent patents war with Johnson & Johnson (NYSE:JNJ), but that didn’t stop the Natick, Mass.-based devices giant from cross-appealing a Delaware judge’s ruling.
The patents in question are at the heart of complicated legal wrangling involving Boston Scientific, its New Brunswick, N.J.-based rival and competitor/partner Abbott (NYSE:ABT). The dispute centers around Boston Scientific’s Promus stent, a private-label version of Abbott’s Xience V stent, and the JNJ subsidiary Cordis Corp.’s Cypher.
LeMaitre Vascular Inc. (NSDQ:LMAT) ended 2009 swinging from red to black, riding strong sales in its vascular division to positive top- and bottom-line growth for the year.
The Burlington, Mass.-based peripheral vascular device maker posted sales of $13.6 million during the three months ended Dec. 31, 2009, up 13 percent compared with the $12 million in sales the company reported during the same period in 2008.
The increased sales helped the company boost its bottom line to $1.3 million, compared to a $312,000 profit for Q4 2008.
ATS Medical Inc. (NSDQ:ATSI) reported sales of $18.7 million during the fourth quarter, an increase of 4 percent when compared to the $18 million the company reported during the same period in 2008.
The Minneapolis, Minn.-based heart valve repair products company managed to trim its net loss to $3.4 million for the three months ended Dec. 31, 2009, a 62 percent decrease from the $8.5 million the company lost during the same period last year.
For the year, ATS managed to narrow its net losses by 68 percent, reporting a loss of just over $6 million on $75 million in sales, compared to a $19 million loss on $66 million in sales during 2008.
Boston Scientific Corp. (NYSE:BSX) said two of its current board members have decided not to seek re-election for their seats at the company’s next annual meeting and will be retiring from their service to the company.
Former Sen. Warren Rudman, a board member at Boston Scientific for the past 11 years, and John Pepper, who has served on and off since 1999, will both retire following the expiration of their terms, the company announced.
Rudman, who came on board at the Natick, Mass.-based medical device giant in 1999, served two terms as senator for New Hampshire from 1980-1992. He is 79 years old and sits on the board of several funds managed by the Dreyfus Corp.
Johnson & Johnson (NYSE:JNJ) appealed a federal judge’s ruling that four of its Cordis Corp. subsidiary’s drug-eluting stent patents are invalid, the latest salvo in its long-running infringement battle with Boston Scientific Corp. (NYSE:BSX).
The patents in question are at the heart of complicated legal wrangling involving the Natick, Mass.-based medical device giant, its New Brunswick, N.J.-based rival and its competitor/partner Abbott (NYSE:ABT). The dispute centers around Boston Scientific’s Promus stent, a private-label version of Abbott’s Xience V stent, and the Cordis Cypher.