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.
Rumors of the zombie deal that won’t die, Stryker’s reported buyout of Smith & Nephew, were resurrected after StreetInsider reported that Stryker tabled an $18 billion offer for its British orthopedics rival.
Citing “a person with knowledge of the situation,” the website said Goldman Sachs is acting as an advisor on the deal and that “talks could move quickly.” Read more
Toshiba, amid a massive restructuring aimed at righting the ship after a $1.3 billion accounting scandal, said it’s looking for outside investors to buy a stake in its healthcare business and is laying off nearly 7,000 workers.
The Japanese tech conglomerate said it wants to focus on its core nuclear energy and chip businesses. That means massive job cuts for its consumer electronics business and the sale of a TV plant in Indonesia, Toshiba said. The total number of layoffs could reach 10,000, including cuts already under way and voluntary early retirement. Read more
President Barack Obama signed into law an omnibus tax and spending bill that pauses the medical device tax for 2 years, hours after the U.S. Senate approved the $1.8 trillion measure on a 65-33 vote.
The 2-year pause on the medical device tax, a 2.3% levy on all U.S. sales of medical devices, is estimated to cost $3.4 billion, according to the Joint Committee on Taxation. Read more