Former national security advisor Gen. James Jones joined the board of Invacare Corp. (NYSE:IVC), replacing departing Ohio governor-elect John Kasich effective Dec. 1.
News Well
MassDevice On Call: Health insurer warns diabetes will cost $3.4 trillion over next decade
Health insurer warns diabetes will cost $3.4 trillion over the next decade. Costs related to diabetes will run up a tab of almost $3.4 trillion through 2020 in the United States, with more than 60 percent paid for by the U.S. government — unless people lose weight, a study released today by health insurer UnitedHealth Group Inc. revealed, according to Bloomberg.
DOJ touts $2.5 billion haul from healthcare fraud recoveries
The U.S. Dept. of Justice secured $3 billion in civil settlements and judgments for fraud cases in the fiscal year ending Sept. 30 — the largest-ever annual recovery of funds defrauded from federal government.
Mass. releases data on companies’ payments to docs
Massachusetts officials released the first round of data from a registry of healthcare industry payments to physicians and hospitals in the Bay State, as mandated by its so-called “gift ban” law.
The Mass. Office of Health and Human Services released the disclosures from medical device, diagnostics, pharmaceutical and other firms that paid docs more than $50 for a variety of reasons. The law requires the companies to detail expenditures for product training programs, payment for seminars or lectures and meals. The first release covers July 1, 2009, through Dec. 31, 2009.
Medtronic’s Q2 profits plunge on Sprint Fidelis settlement
Second-quarter profits for Medtronic Inc. (NYSE:MDT) plunged 34.8 percent, largely due to its settlement of a slew of lawsuits over its defective Sprint Fidelis pacemaker leads.
The MassDevice Weekly Checkup: November 23, 2010
Our Weekly Checkup takes the temperature of the medical device industry’s three largest U.S. clusters: Massachusetts, California and Minnesota.
The MassDevice Indices are weighted according to market capitalization, based on the number of shares outstanding for each company and each Friday’s closing share price.
The Massachusetts index for the week ended Nov. 19 closed at 5.68, up 2.1 percent compared with the prior week. Since Jan. 1, 2009, when we began tracking these companies, the index has risen 28.2 percent.
Invacare’s Mixon passes torch to Blouch
Invacare Corp. (NYSE:IVC) CEO A. Malachi Mixon III, a name synonymous with the company since he bought it with his life savings in 1979, is stepping down from his chief executive post but will stay on as chairman.
U.K. tech consulting firm expands in Mass.
Sagentia opened up a location in Cambridge, Mass. looking to drum up some local talent.
The Cambridge, U.K.-based firm attributes its latest growth to the North American market and wants to capitalize on the new location’s proximity to "a wealth of world-renowned" research institutions.
Court stays HemCon sales injunction in latest round of patent spat with Marine Polymer
U.S. Court of Appeals for the Federal Circuit granted HemCon Medical Technologies Inc. the right to continue selling its hemostatic bandages by staying an injunction against the company.
The appeals court ruling also postponed the damages payment that the Portland, Ore.-based company was ordered to pay in an ongoing patent infringement lawsuit brought by Marine Polymer Technologies Inc. in 2006 over bio-compatible polymers used in its hemostatic products.
Medtronic makes $800 million acquisition of Ardian
Medtronic Inc. (NYSE:MDT) picked up another cardiovascular device company in the latest of a series of acquisitions.
The largest medical device maker in the world today announced an agreement to acquire hypertension treatment developer Ardian Inc. in an $800 million deal, adding to its growing portfolio.
Isoray locks down financing for lung and brain cancer treatments
Isoray Inc. (AMEX:ISR) has a commitment for more than $4.3 million in financing that the company said will go towards development of three cancer treatments.
The Richland, Wash.-based firm agreed to sell $2.25 million in stock to an individual investor, with the potential of an additional $2 million in short term warrants at an average price of $1.40, according to a statement from the company.