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.
3. House advances reconciliation bill to dismantle Obamacare
The U.S. House of Representatives Committee on Ways and Means said yesterday it is advancing legislation targeting the Affordable Care Act with a provision to repeal the medical device tax.
The legislation will operate through a budget tool known as “reconciliation” which will allow the bill to pass through the senate with a simple majority vote. Previous bills looking to dismantle the act and repeal the device tax have failed to overcome the senate’s 60-vote threshold. Read more
2. Boston Scientific launches Captivator EMR device
Boston Scientific said it launched the Captivator endoscopic mucosal resection device designed as a minimally-invasive alternative to esophagectomy procedures.
The Captivator allows for staging and removal of precancerous tissue and early esophageal cancer in the upper gastrointestinal tract, the Marlborough, Mass.-based company said. Read more
1. Medtronic ponies up $500M to free up $9B in cash
Medtronic said it underwent internal restructuring after its $50 billion merger with Covidien that resulted in a 1-time charge of approximately $500 million in income tax to the U.S, according to an SEC filing.
As a result, the company has freed up approximately $9.3 billion in assets previously held by U.S.-controlled subsidiaries that exist outside the country, according to the SEC filing. Read more