Medtronic (NYSE:MDT) announced today that it has acquired Digital Surgery (London), a privately-held pioneer in surgical artificial intelligence, data and analytics, and digital education and training. Financial terms of the deal were not disclosed. Medtronic said the purchase will strengthen its robot-assisted surgical platform and its broader portfolio. The medical device giant is making a big play […]
FDA says Medtronic MiniMed insulin pump recall is serious
The U.S. FDA has designated a recall of hundreds of thousands of Medtronic Minimed insulin pumps as Class I — the most serious type of recall. Medtronic (NYSE:MDT) first warned of safety problems with the pumps in November. The recall involves 322,005 pumps — MiniMed 630G (model MMT-1715) and MiniMed 670G (model MMT-1780) — in the […]
11 states ask EPA to crack down on ethylene oxide emissions
Eleven state attorneys general are urging the U.S. Environmental Protection Agency to impose stricter regulations over commercial operations that emit ethylene oxide (EtO), a widely used medical device sterilant gas. The EPA, which considers EtO a carcinogen, has been fielding comments on it in light of public outcry over emissions from medtech sterilization plants during […]
Myomo shares down on news of $15m public offering
Shares of Myomo (NYSE:MYO) took a dive in price today after the commercial-stage medical robotics company announced it would raise $15 million from a public offering. MYO shares were down nearly 45% to $6.46 apiece by the afternoon. The company — maker of the MyoPro upper limb orthosis — is selling more than 2.1 million shares […]
Invacare posts losses, but sees stock rise
Despite fourth-quarter results that missed Wall Street projections and signaled increased losses, Invacare (NYSE:IVC) shares saw a sizeable bump on the markets today amid predictions of modest 2020 sales growth. IVC Shares were up 14.5% at $8.67 per share in mid-afternoon trading. The Elyria, Ohio-based company posted losses of -$18.7 million, or -56¢ per share, on […]
Procept Biorobotics taps industry veteran as new CEO
Procept BioRobotics recently announced that Reza Zadno, former CEO of ophthalmology tech company Avedro, has taken over the corner office at Procept. Zadno has more than three decades of leadership in the medical device industry, with a track record of successfully leading young companies to acquisitions. The latest was Avedro, which Glaukos (NYSE:GKOS) acquired for an […]
AdvaMed and Biocom to produce Digital MedTech Conference together
AdvaMed and Biocom today announced a partnership to collaborate on producing this year’s Digital MedTech Conference. The partnership combines Biocom’s DeviceFest and Digital Health Conference with AdvaMed’s Digital MedTech Conference — with the conference slated to be held May 19–20, 2020 at the Millennium Biltmore Hotel in Los Angeles. “The Digital MedTech Conference is where […]
FDA authorizes use of Caption Health’s AI software to capture heart images via ultrasound
The FDA announced today that it has authorized the marketing of Caption Health’s Caption Guidance software for assisting in the acquisition of cardiac ultrasound or echocardiography images. Caption Guidance is an accessory to compatible diagnostic ultrasound systems designed to use artificial intelligence to help capture images of a patient’s heart that are of acceptable diagnostic […]
Myomo stock sees week of volatility
Investors have traded millions of shares in commercial-stage medical robotics company Myomo (NYSE:MYO) this week, with the company saying it is unaware of what is causing the trading volatility. The Cambridge, Mass.–based company on Jan. 30 enacted a 1-for-30 reverse stock split, with stocks slumping for a few days before doubling in value on Tuesday and then […]
Zimmer Biomet stock up more than 5% on Street-beating results
Zimmer Biomet (NYSE:ZBH) reported fourth-quarter results today that beat the consensus forecast on Wall Street, announcing a number of new restructuring initiatives. The Warsaw, Ind.–based orthopedic device giant reported profits of $321.4 million, or $1.54 per share, off sales of $2.13 billion for the three months ended Dec. 31, 2019, versus a loss of –$902.5 million, […]
These medical device companies provide the most research payments
The worlds largest medical device companies are spending tens of millions of dollars a year on research payments to doctors and teaching hospitals — but the payments only make up a tiny fraction of their budgets. That was a big takeaway from an analysis of Medical Design & Outsourcing‘s annual Big 100 and the most […]
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