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.
Retina Implant said this week that it raised $28.2 million (€26 million) in private equity funding for its Alpha IMS device, which is designed to treat blind patients with retinitis pigmentosa.
The round including contributions from new and existing backers, the Reutlingen, Germany-based company said. The proceeds are earmarked for new clinical centers and winning reimbursement in more markets for the Alpha IMS subretinal microchip. Read more
A U.S. subsidiary of Olympus agreed to pony up $623.2 million to resolve criminal and civil charges that it paid kickbacks to doctors and hospitals for using its medical imaging equipment, the U.S. Justice Dept. said.
Federal prosecutors alleged that the schemes helped U.S. Olympus Corp. of the Americas and Olympus Latin America reap more than $600 million in sales and $230 million in gross profits. Read more
ConforMIS leveled a lawsuit against Smith & Nephew, accusing the British orthopedics giant of trespassing on 8 patents covering the ConforMIS technology for patient-specific knee implants.
Bedford, Mass.-based ConforMIS also launched its iTotal PS, claiming it as the only customized posterior stabilized knee replacement system on the market. Read more