Inside traders draw jail time in Stryker case
April 10, 2014 by Brad Perriello
A pair of stock traders drew jail time on insider trading charges that they used tips from a former Stryker marketing executive to make illicit trades ahead of the medical device company’s 2011 acquisition of Orthovita.
Lawrence Grum was sentenced to a year and a day and Michael Castelli to 9 months in jail by Judge Katharine Hayden of the U.S. District Court for New Jersey. Read more
ReGen Biologics appeals loss to FDA
April 9, 2014 by Brad Perriello
ReGen Biologics’ long battle against the FDA entered a new phase this year, with the medical device company’s appeal in a lawsuit it filed against the watchdog agency, its top regulator and the secretary of the U.S. Health & Human Services Dept. over the FDA’s decision to rescind the clearance granted to ReGen’s Menaflex knee implant.
Oral arguments were held in the U.S. District Court of Appeals for the D.C. Circuit yesterday in ReGen’s appeal of the 2011 lawsuit it filed against the FDA, its Center for Devices & Radiological Health chief Dr. Jeffrey Shuren and HHS head Kathleen Sebelius. In April 2013 a lower court granted the FDA’s motion to dismiss, agreeing that the federal watchdog agency was within its rights to turn its green light for Menaflex to red. Read more
Over-stenting doc costs bosses $37M in patient complaints | MassDevice.com On Call
April 9, 2014 by Arezu Sarvestani
MASSDEVICE ON CALL — A years-old over-stenting dispute is coming to a head as the former owner of St. Joseph Medical Center in Maryland agreed to pay up to $37 million to resolve patient lawsuits.
The agreement could help put to rest complaints from more than 230 patients who stand to get at least $134,000 apiece in addition to legal fees, according to The Baltimore Sun. A Baltimore judge gave preliminary authorization last week and set a hearing for next month to finalize the agreement with Catholic Health Initiatives. Read more
I-Flow settles pain pump patent row with Progressive Medical | MassDevice.com On Call
April 8, 2014 by Arezu Sarvestani
MASSDEVICE ON CALL — California’s I-Flow finally put to bed a patent infringement lawsuit with device distributor Progressive Medical, keeping the details under wraps.
I-Flow had sued Progressive in 2012, claiming that the distributor’s AccuFlo infusion pumps infringed on I-Flow’s patents for an infusion device contained in a collapsible housing. Read more
Smith & Nephew pays $12M to settle stockholder lawsuit ahead of ArthroCare buyout
April 10, 2014 by Brad Perriello
Smith & Nephew cleared 1 hurdle to its $1.7 billion acquisition of ArthroCare by agreeing to pay $12 million to settle a stockholder lawsuit seeking to block the deal
ArthroCare, Smith & Nephew and the deal’s backers “vigorously denied” any wrongdoing alleged in the lawsuit, which was consolidated from 8 complaints lodged shortly after the deal was announced in February, according to a regulatory filing. Read more