BioScale Inc. closed out its $25 million equity round with a contribution from Morningside Venture.
News Well
GOP piles on Obama CMS nominee Berwick
Republican lawmakers are using rhetoric borrowed from their anti-healthcare reform playbook to oppose the nomination of Dr. Donald Berwick to lead the Centers for Medicare and Medicaid Services.
Cleveland Clinic invests in company that helps patients shop for care
By Mary Vanac
Already an outspoken advocate for healthy living as a means to cut healthcare costs, Cleveland Clinic CEO Dr. Delos “Toby” Cosgrove is getting behind a company that enables people to shop for care.
Precision Therapeutics to launch new genomics product in 2011
Fresh off a $34 million Series D fundraise, Precision Therapeutics Inc. is planning to launch a “genomics” product sometime in 2011.
VCs want to have their cake and eat it too
The new mantra of the venture capitalist is capital efficiency.
I must have heard that six or seven times while attending the IN3 investor’s conference in Boston this week. The event, put on by Elsevier Business Intelligence, brings together startups, established companies and venture capitalists; three interdependent partners with competing interests. After all, the startups want to get the VCs’ money, who don’t want to give it to them. The VCs want to sell their companies to the big companies, who don’t want to give them the valuations they want. And everyone wants to sell their company to Boston Scientific Corp. (NYSE:BSX) or Covidien plc (NYSE:COV).
FDA recalls counterfeit surgical mesh
The Food & Drug Administration issued its highest priority recall for counterfeit versions of C.R. Bard’s (NYSE:BCR) Davol Inc. brand. surgical mesh.
The federal watchdog agency warned that the fake versions of the product, commonly known as Marlex mesh, should not be used. Investigations by the FDA and Bard found most of the counterfeit product is labeled with genuine Bard lot numbers.
The Class I recall is an update to a March 11 warning that announced the investigation.
Five ways LinkedIn can grow your medical device sales
LinkedIn is growing by leaps and bounds. It is considered the pre-eminent business social networking site on the Internet. There are more than 60 million business professionals who have LinkedIn profiles, including an increasing number of surgeons and hospital administrators.
Here is a quick primer on how you can use LinkedIn as a medical device sales representative:
Zargis licenses Stethographics’ lung sounds analysis tool
Zargis Medical Corp. licensed Stethographics Inc.’s lung sounds analysis technology for its telemedicine platform.
The Stamford, Conn.-based Speedus Corp. (NSDQ:SPDE) subsidiary inked an exclusive license agreement for Stethographics’ Food & Drug Administration-approved lung auscultation tool. Stethographics is a Boston-based developer of automated, noninvasive sound analysis products.
The reimbursement environment in Europe
Nearly 60 companies joined the seminar on the Reimbursement Environment in Europe May 27, organized by MassMedic and the Netherlands Foreign Investment Agency in Boston. Buck Consultants International (BCI) presented attendees with an overview of the reimbursement environment in the main medical device markets in Europe. Medical device companies from the Boston area also presented their experiences in getting reimbursement arranged as a start for successful market launches. Here’s a snapshot:
Smith & Nephew names Interlace Medical CTO in patent infringement suit
Smith & Nephew Inc. (NYSE:SNN) hit Interlace Medical Inc. with a lawsuit accusing the Framingham, Mass.-based firm of infringing a patent with its MyoSure hysteroscopy device.
Smith & Nephew, which has operations in Andover, Mass., accused Interlace chief technology officer Ronald Adams, an SNN employee from 2002 to 2006, of bringing the technology with him when he jumped ship for then-startup Interlace. The patent covers an arthroscopic surgical instrument designed to cut semi-rigid tissue.
Meeting mayhem
Three meetings, two conference calls and a Webex — and it’s only Monday. Sound familiar? You’re not the only one. According to a 2007 study conducted by Banyan Way, an executive coaching and development group, senior marketing executives claimed to spend about half of their normal working day, every day, in meetings.