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.
Fourth-quarter profits for St. Jude Medical were off more than 50%, the medical device company said today, as its $3 billion acquisition of Thoratec put a $179 million hit on the bottom line.
Little Canada, Minn.-based St. Jude posted profits of $113 million, or 39¢ per share, on sales of $1.45 billion for the 3 months ended Jan. 2, for a bottom-line slide of -53.9% on sales growth of 0.6%. Read more
A bidding war for Toshiba subsidiary Toshiba Medical is reportedly heating up among a slew of private equity players and rival corporations.
Toshiba, which said last month that it’s seeking outside investors to buy a stake in the healthcare business amid laying off nearly 7,000 workers, wants to focus on its core nuclear energy and chip businesses. Read more
A federal judge booted a purported class-action racketeering lawsuit filed against Boston Scientific, accusing the medical device maker of illegally smuggling counterfeit resin made in China to make pelvic mesh.
The lawsuit was filed Jan. 12 in the U.S. District Court for Southern West Virginia, the venue for multi-district litigation against a clutch of companies over their respective mesh products for treating female urinary incontinence and pelvic organ prolapse. Read more