Say hello to MassDevice +5, a bite-sized view of the top five medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 5 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.
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5. This 3D printed implant replaces skull bone
A New Jersey doctor turned to Johnson & Johnson’s DePuy Synthes and a 3D printed implant to replace missing skull bone in a patient. The procedure was performed after the patient suffered brain swelling and the skull became infected.
Dr. Gaurav Gupta, assistant professor of neurosurgery at Rutgers Robert Wood Johnson Medical School, had to perform emergency surgery on Chris Cahill after he was suffering from life threatening brain swelling in the frontal lobe. Gupta relieved the pressure and intended on replacing the skull once the swelling went down, but the skull became infected and was unusable. His solution was to use 3D printing to replace the missing skull bone. Read more
4. EnteroMedics prices $20m preferred stock offering
EnteroMedics today priced an upcoming underwritten public offering looking to raise $20 million to support continued commercialization and product development.
In the offering, the company will offer units at $1,000 per unit, with each consisting of 1 share of Series B convertible preferred stock, convertible into 435 shares of common stock at $2.30 per share, and a 7-year warrant to purchase 435 shares of common stock also at $2.30 per share. Read more
3. Philips closes $2B Spectranetics acquisition
Royal Philips said yesterday it closed its $2.2 billion deal to acquire US vascular intervention device maker Spectranetics.
With the closure, Spectranetics and its financial results will be consolidated into Philips image-guided therapy business, the company said. Philips said that Spectranetics employs over 900 individuals and is currently posting double-digit growth, with projected 2017 sales of approximately $300 million. Read more
2. Conservative groups jump on medical device tax repeal bandwagon
A coalition of conservative action groups yesterday jumped on the bandwagon for repealing the medical device tax, urging Congressional leaders to scrap the 2.3% levy on U.S. medtech sales.
In a letter to House speaker Rep. Paul Ryan (R-Wis.) and Senate majority leader Sen. Mitch McConnell (R-Ky.), the group also advocated for repealing a tax on certain insurance programs. Both levies, enacted as part of Obamacare, are on hiatus until next year. Read more
1. Deaths prompt renewed FDA warning on intragastric balloons
The FDA yesterday updated its warning of the risks associated with fluid-filled intragastric balloons after receiving new reports of the deaths of patients implanted with the devices.
Intragastric balloons, made by Apollo Endosurgery and ReShape Medical, are used to treat obesity. Placed in the stomach orally in a minimally invasive endoscopic procedure, they’re designed to be filled with fluid and stay in the stomach for six months. Apollo’s Orbera intragastric balloon system is composed of a single balloon which is filled with saline, while ReShape’s integrated dual balloon system uses 2 balloons filled with saline and methylene blue dye. Read more
