The Medical Device Business Journal — Medical Device News & Articles | MassDevice
Welcome to MassDevice's Neurological Hub, your resource for the latest news in the neurological device space. Stay informed about the innovations and business news shaping the neurological industry.
🧠 Narrow your focus with these categories:
Neuromodulation/Neurostimulation | Bioelectronic Medicine | Pain Management | Brain-Computer Interfaces
Here are the top neurological device features from MassDevice and its sister publications (and scroll down to read the latest cardiology device news from MassDevice):
+ Analysts see $400B BCI opportunity
+ The top 10 neurotech stories of the year so far
+ 7 neurotech companies you need to know
+ Brain breakthroughs: Aprinoia Therapeutics’ harnesses AI and strategic partnerships to propel neurodegenerative disease research
+ 7 brain-computer interface companies you need to know
+ Natalizumab and PML: The complex dance of benefit and risk for MS
Strong international sales helped Aspect Medical Systems Inc. boost revenues 4 percent and pushed the company into the black during the first quarter of 2009.
The Norwood-based brain-monitoring equipment maker posted revenues of $25.3 million for the three-month period ended March 31, compared to $24.4 million for the same period last year.
That pushed the company into the black. Aspect reported net income of $1.9 million, compared to a $235,000 loss during the first quarter of 2009.
Aspect Medical Systems Inc. cut a deal with a New York investment fund rather than face a protracted and messy board fight.
The Norwood-based brain-monitoring equipment maker said it will support the nomination of Jon Biro and Melvin Keating, both of First Biomed LLC, to its board of directors for three-year terms starting in June. Keating will also be given a seat on the compensation committee and Biro will be appointed to the auditing committee.
Officials at Aspect Medical Systems Inc. are delaying the company’s annual meeting to prepare for a possible proxy fight against two of its largest stockholders.
Officials at the Norwood-based brain-monitoring equipment maker said they needed “sufficient time to consider the potential director candidates, and provide shareholders with adequate time to consider the Board’s nominees,” according to a filing with the federal Securities and Exchange Commission.
Inc. magazine ran the following correction Dec. 1:
Delays at the federal Food and Drug Administration and dwindling cash resources will force Cyberkinetics to close its doors for good, The Boston Globe reported.
Hard on the heels of the plea agreement added to its miserable week by posting nearly $30 million in losses for 2008.
The Waltham-based company said sales were off 30 percent from 2007. The drop off in sales contributed to a net loss of $27.7 million for the year, compared to an 8.4 million loss reported for 2007.
The bulk of its $4.1 million fourth-quarter net loss stemmed from the $3.7 million federal settlement, with the rest due to a $274,000 writedown on the NeuroMetrix January buyout of joint-venture partner Cyberkinetics Neurotechnology Systems Inc.
Nerve test equipment manufacturer NeuroMetrix Inc. paid $3.7 million to settle charges in a federal kickbacks and Medicare fraud case.
Under a deferred prosecution deal with U.S. Attorney Michael Sullivan’s office in Boston and the federal Health and the Inspector General’s office of the federal Health & Human Services Dept., the Waltham-based device maker will pay $1.2 million to settle accusations of illegal kickbacks to physicians and $2.5 million to settle civil charges in that case and another alleged Medicare billing scam.
Nerve test equipment manufacturer NeuroMetrix Inc. bought out joint-venture partner Cyberkinetics Neurotechnology Systems Inc. and its Andara oscillating field stimulator technology for $350,000 in cash.
The technology is used to treat acute spinal cord injury and peripheral nerve damage. NeuroMetrix said it plans to integrate the technology into its suite of neurodiagnostic systems.
