Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
SynCardia Systems yesterday registered for an initial public offering worth up to $40 million, making it the 2nd medical device company in as many weeks to file for an IPO.
SynCardia, which makes an artificial heart system designed to replace the functions of both the left and right ventricles and all 4 heart valves, said it plans to list on the NASDAQ exchange under the “TAHT” symbol. The total artificial heart SynCardia calls TAH-t is on the market in the U.S., European Union and Canada for use as a bridge to heart transplantation in patients with advanced heart failure. Read more
EP Global Communications threw down the gauntlet today, challenging Google on its much-ballyhooed smart contact lens program.
Last summer Google announced a deal with the Novartis Alcon subsidiary to commercialize “smart” contact lenses that can measure blood glucose levels and transmit reports wirelessly. This morning EPGL claimed its patent portfolio covers technology that’s crucial to a number of smart contact lens applications and challenged Google to issue an update on its program by the end of this month. Read more
Hill-Rom Holdings launched a $425 million round of debt financing to support its pending $2.05 billion purchase of Welch Allyn and its portfolio of point-of-care diagnostic devices, according to an SEC filing.
The cash-and-stock deal is slated to leave privately owned Welch Allyn’s shareholders owning a 13% stake in Hill-Rom. The deal calls for Chicago-based Hill-Rom to pay $1.625 billion and 8.1 million HRC shares for Welch Allyn, which is based in Skaneateles Falls, N.Y. Read more