Sanofi (NYSE:SNY) is said to be in advanced talks with BAX to sell its Seprafilm surgical products business for up to $400 million. SepraFilm is designed to prevent adhesion after abdominal surgeries. The French drugmaker, which acquired SepraFilm in 2011 when it paid $20.1 billion for Genzyme, wants to close the deal “with the next few […]
Admedus deals biologic patch business to LeMaitre Vascular for $24m
Admedus (ASX:AHZ) dealt its biologic patch business to LeMaitre Vascular (NSDQ:LMAT) in a deal worth up to $24.6 million to focus on the transcatheter aortic valve replacement market. The A$36.2 million buyout of the CardioCel and VascuCel patches called for LeMaitre to put up $14.2 million up front, with another $1.4 million due in a pair […]
3M closes $6.7B Acelity buyout
3M (NYSE:MMM) last week closed the $6.7 billion buyout of wound care giant Acelity from the private equity consortium that took the company private back in 2011. San Antonio, Texas-based Acelity, which had registered for an initial public offering a month before 3M floated its offer, was formed after Apax Partners and a pair of Canadian pension […]
Supremes deny Zimmer Biomet in $250m loss to Stryker
The U.S. Supreme Court today declined to take up the Zimmer Biomet (NYSE:ZBH) appeal of a $248 million loss to Stryker (NYSE:SYK) in a patent infringement case. The case dates back to December 2010, when Stryker sued orthopedics rival Zimmer, alleging infringement of 3 patents covering wound debridement technology by Zimmer’s Pulsavac Plus device. Last December the U.S. Court […]
Imbed Biosciences wins $1.5m NIH grant
Imbed Biosciences said last week that it received a $1.5 million grant from the National Institutes of Health to develop a bioresorbable, antibacterial wound dressing. Fitchburg, Wis.-based Imbed said the two-year Small Business Innovation Research grant, from the NIH’s National Institute for Arthritis & Musculoskeletal & Skin Diseases, is for R&D on a bioresorbable wound […]
Appeals court revives whistleblower lawsuit against Kinetic Concepts
This article has been updated to include information from Acelity. A federal appeals court has revived a whistleblower lawsuit alleging that Acelity subsidiary Kinetic Concepts fraudulently billed Medicare for its negative-pressure wound therapy devices without doctors’ orders. A unanimous Ninth Circuit Court of Appeals panel decided that a district court erred in dismissing the lawsuit […]
These 5 DIY medical devices might surprise you
Big ideas in medical device development can come from regular people driven to solve vexing problems. Here are a handful of folks from outside the medtech industry who decided to create devices to solve their own health troubles or those of others around the world. Read on to see what high school, college and medical […]
3M funds Acelity buyout with $3.3B debt offering
3M (NYSE:MMM) is planning to finance its $6.7 billion acquisition of Acelity in part with a $3.3 billion debt offering. Maplewood, Minn.-based 3M, which announced its purchase of wound care giant Acelity in May, launched a four-part bond sale yesterday. 3M expects to finance the Acelity buyout with all of the net proceeds from the […]
Organogenesis boosts outlook on higher Q2 sales
Organogenesis (NSDQ:ORGO) beat The Street on sales for the second quarter of 2019 and boosted its outlook for the rest of the year amid continued strong sales growth in its wound-care business. The Canton, Mass.–based regenerative medicine company reported a loss of $9.65 million, or -11¢ per share, on sales of $64.95 million for the […]
Report: Smith & Nephew mulls shift to U.S. listing
The board of directors at Smith & Nephew (NYSE:SNN) reportedly discussed shifting its stock listing from the U.K. to the U.S., partly to free its CEO from British pay restrictions. The orthopedics and wound care giant last year tapped former Alere chief Namal Nawana to replace the retiring Olivier Bohuon. At Alere, Nawana pulled down […]
Gel-e gains breakthrough device nod for internal bleeding control device
Wound-care startup Gel-e said today that it has won FDA breakthrough status designation for its first internal-use flowable device. The College Park, Md.-based company’s first product, Life Foam, is an expanding, injectable hemostat designed to rapidly provide temporary control of bleeding from non-compressible abdominal wounds that are not suited to tourniquet application in trauma and battlefield […]
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