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. Boston Scientific leads $40m round for NxThera
NxThera said today that Boston Scientific led a $40 million funding round for its Rezūm device, saying it plans to boost its sales footprint in the U.S. and Europe.
Existing backers Aberdare Ventures, Arboretum Ventures, GDN Holdings and The Ally Bridge Group also participated, Maple Grove, Minn.-based NxThera said. Read more
2. Report: TMVR at least 4 years from U.S. market
Transcatheter mitral valve replacements are at least 4 years out from hitting the U.S. market, despite the $2 billion recently dropped on companies developing the technology by some of the top names in medtech.
Medtronic, Abbott, Edwards Lifesciences and HeartWare International in recent months have spent a total of $2 billion to buy young companies developing versions of the technology. Read more
1. Medtronic’s Q2 earnings beat estimates
Medtronic‘s fiscal 2nd-quarter earnings beat expectations as revenues met estimates, prompting the medical device leviathan to raise the low end of its profit forecast.
Fridley, Minn.-based Medtronic posted profits of $520 million, or $1 per share, on sales of $7.06 billion for the 3 months ended Oct. 30. Compared with the same quarter last year, before the company’s $50 billion acquisition of Covidien, that represents a profit slide of -37.2% on sales growth of 61.7%. The Covidien business, now known as Medtronic’s minimally invasive therapies group, put up about a third of total sales for the just-ended quarter. Read more
