Former Masimo CEO Joe Kiani has petitioned a U.S. District Court to dismiss a lawsuit accusing him of orchestrating an “empty voting” scheme during a proxy battle. The lawsuit, filed by Masimo, alleges that Kiani collaborated with investment firm RTW Investments to manipulate the company’s 2024 annual shareholder meeting to retain control. Kiani’s legal team […]
Legal News
Federal appeals court sides with Apple in AliveCor patent dispute
The U.S. Court of Appeals for the Federal Circuit today ruled in favor of Apple in a long-running patent battle with AliveCor, affirming a previous decision by the U.S. Patent and Trademark Office’s Patent Trial and Appeal Board (PTAB) that invalidated AliveCor’s ECG-related patents. The ruling marks another loss for AliveCor’s attempt to claim patent […]
FTC challenges private equity firm’s acquisition of Surmodics
The U.S. Federal Trade Commission (FTC) has sued to block the planned acquisition of medical device company Surmodics by GTCR. According to a news release, GTCR also owns a majority stake in Biocoat. The FTC says Biocoat is the second-largest provider of outsourced hydrophilic medical device coatings, behind only Surmodics. As a result, the FTC believes the deal […]
Former Masimo CEO Joe Kiani plans to sue board members
Former Masimo CEO Joe Kiani submitted a Private Attorneys General Act (PAGA) notice in a move to sue Masimo board members. In a February 28 letter to the California Labor & Workforce Development Agency (LWDA), Kiani alleges that Masimo, under the direction of investment firm Politan Capital Management and its allies on the board, “resorted […]
Philips stock sinks on Q4 China performance, finalizes $1.1B Respironics settlement
Philips shares took a hit today on fourth-quarter results that included potentially concerning performance in China. Shares of PHG fell nearly 12% to $24.92 apiece by midday trading on the NYSE today. The Amsterdam-based medtech giant company reported losses of approximately $347.3 million. That equals 38¢ per share on sales of about $5.3 billion for […]
Medtronic, Boston Scientific settle Axonics IP dispute
Medtronic and Axonics — now part of Boston Scientific — have confidentially settled their long-running IP dispute. Legal news sites, including Bloomberg Law, were the first to break the news this week. A Medtronic spokesperson provided the following statement to MassDevice today: “Medtronic and Boston Scientific are pleased to have reached a confidential settlement agreement that will resolve […]
Sinocare prevails in CGM trademark spat with Abbott
China-based CGM developer Sinocare recently announced a significant legal victory over Abbott, a market leader in the CGM space. Our sister site, Drug Delivery Business News, reports that a judge in the High Court of Justice (Chancery Division) of England and Wales rejected claims of trademark infringement and passing off made by Abbott against Sinocare. According […]
Intuitive fends off antitrust lawsuit from Surgical Instrument Service
A federal judge in Northern California has entered a judgment as a matter of law in favor of surgical robotics giant Intuitive in an antitrust lawsuit filed by a surgical instrument servicer. In its lawsuit filed in 2021, Glendale, Illinois–based Surgical Instrument Service Co. (SIS) had accused Intuitive of using an alleged monopoly in the multiport […]
Intuitive loses bid for midtrial end to antitrust case
A federal judge has rejected a request from Intuitive to end an antitrust trial and rule in its favor. Intuitive (Sunnyvale, California) maintains that it is not using its soft-tissue surgical robotics dominance to prevent third parties from servicing its EndoWrist instruments. Yesterday, Judge Araceli Martínez-Olguín of U.S. District Court in Northern California denied Intuitive’s […]
Procept BioRobotics faces market, safety criticism from short seller Spruce Point Capital Management
Procept BioRobotics (Nasdaq: PRCT) is facing scrutiny following a report from short seller Spruce Point Capital Management. The investment firm, which is known for its short-selling strategies, challenged the surgical robotics company’s claims of market dominance and raised concerns about its growth projects, product adoption hurdles, and the safety of its Aquablation system. Spruce Point […]
TransMedics faces fraud, organ trafficking accusations from activist short seller
TransMedics (Nasdaq: TMDX) is facing allegations of fraud, organ trafficking, and unethical practices that have triggered shareholder investigations. The claims, detailed in a report by short-seller Scorpion Capital, have triggered investigations by two shareholder rights law firms. In response, TransMedics has issued a strong denial, calling the report inaccurate and misleading. On January 10, Scorpion […]
