Ex-Theranos CEO Elizabeth Holmes’ federal fraud trial began with federal prosecutors claiming she lied and cheated to get money. The prosecutors alleged on opening day yesterday that Holmes was manipulative and knowingly defrauded investors and patients through false and misleading claims, according to media reports. “This is a case about fraud, about lying and cheating […]
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Jury selection for Elizabeth Holmes fraud trial begins today
Jury selection for ex-Theranos CEO Elizabeth Holmes’ federal fraud trial is set to begin today in U.S. District Court in San Jose, California. Holmes faces 10 counts of wire fraud and two counts of conspiracy to commit wire fraud over allegations that she knowingly misled investors by claiming Theranos technology could revolutionize blood testing. She […]
NeuroMetrix stock skyrockets on news of FDA breakthrough device designation
NeuroMetrix (NSDQ:NURO) today announced that its Quell device has received FDA breakthrough designation for treating fibromyalgia symptoms in adults. The news saw NURO shares nearly triple in value to $9.72 apiece near the close of trading. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was up 1.5%. Fibromyalgia involves the […]
Ortho surgical software firm Enhatch raises $9M
AI-enabled surgical software company Enhatch announced today that it raised $9 million in a recent funding round. Led by software growth equity firms Trousdale Capital and Apis Holdings, the latest round brings Enhatch’s total fundraising to $15 million. It has also enabled the Hoboken, N.J.–based company to double its staff to 40. One-third of employees […]
Zimmer Biomet is looking to put sensors in more than just knee implants
Even as Zimmer Biomet prepares to launch its Persona-IQ smart knee implant later this year, the ortho device giant is looking at additional opportunities to package sensors inside ortho implants. Startup Canary Medical (Vancouver, British Columbia), which created the Canary Health Implantable Reporting Processor (CHIRP) that is going inside the Persona-IQ, has cemented a long-term […]
DJO invests in Insight Medical Systems and its augmented reality for ortho surgery
Colfax Corp.’s DJO has made a strategic investment in Insight Medical Systems and its Augmented Reality Visualization and Information System (ARVIS) for orthopedic surgeries. DJO did not disclose the size of its investment in its news release. But Insight Medical Systems recently reported to the SEC on March 19 that it raised nearly $8 million […]
Colfax to split to create new orthopedic device giant
Colfax (NYSE:CFX) plans to split into two publicly traded companies early next year — with businesses including DJO forming a new stand-alone orthopedic device company. The split — announced yesterday — will create a to-be-named medical device company headquartered in Wilmington, Del., with a significant presence in Dallas. Present Colfax CEO Matt Trerotol will lead […]
Federal lawsuit over Boston Sci pelvic mesh heads to trial
A federal judge in Arkansas has ruled that most counts in a pelvic mesh lawsuit against Boston Scientific can go to trial. Kortney Cline sued Boston Sci in 2014, claiming that she suffered injuries after implantation with the company’s Obtryx trans-obturator mid-urethral sling in 2009. Cline’s case was recently transferred to federal court in Arkansas […]
Zimmer Biomet wants federal court to throw out $3.55M hip implant judgment
Zimmer Biomet (NYSE:ZBH) wants either a judgment or a new trial after a federal jury’s $3.55 million award in a metal-on-metal hip implant case. The jury awarded the money to Lori Nicholson and her husband Willis in November for injuries sustained as a result of the M2A Magnum. In a brief filed Feb. 12, Zimmer Biomet claimed […]
Former Medtronic exec to lead Zimmer Biomet spinoff
Zimmer Biomet (NYSE:ZBH) announced today that Vafa Jamali will serve as the CEO of “NewCo,” the spine and dental business spinoff that Zimmer Biomet expects to close in mid-2022. A more than 25-year medtech veteran, Jamali most recently served as chief commercial officer of Rockley Photonics. Before that, he was SVP and president of Respiratory, Gastrointestinal […]
Are smart knee implants the next big thing in ortho?
Orthopedic device industry watchers think so, and Zimmer Biomet appears set to be the first out of the gate this year through a partnership with the startup Canary Medical. What do drug-eluting stents and “smart” implantable medical devices have in common? It turns out it’s a lot, at least according to Dr. Bill Hunter. The […]
