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. Cigna adds reimbursement coverage for 3D breast scans
Cigna said this week that it’s revising its coverage to include 3D mammography for routine breast cancer screening.
The Bloomfield, Conn.-based health insurer only reimbursed for 3D breast scans made for diagnosis, based on the U.S. Preventive Services Task Force’s finding that there’s not enough data to show that 3D mammography is better than traditional mammography in screening for breast cancer. Read more
4. Insightec touts near 50% tremor score improvement in pivotal Exablate Neuro study
Insightec today touted results from a pivotal study of its Exablate Neuro system, which met its primary endpoint with patients treated with the system reporting a 47% improvement in a composite tremor score at 3 months.
Data from the study were published today in the New England Journal of Medicine. Read more
3. Rivanna Medical pulls down $3m
Rivanna Medical, which makes an epidural needle guidance device, raised $3 million in an equity offering, according to a regulatory filing.
Charlottesville, Va.-based Rivanna won 510(k) clearance from the FDA for its Accuro handheld needle guidance device indicated for spinal anesthesia in March 2015 and launched the device last November. Read more
2. Medtronic’s Q1 earnings top expectations despite top-line slip
Fiscal 1st-quarter earnings for Medtronic beat Wall Street’s consensus forecast today, despite a -1.5% sales decline.
The world’s largest pure-play medical device maker posted profits of $929 million, or 66¢ per share, on sales of $7.17 billion for the 3 months ended July 29 – a 13.3% increase for the bottom line. Read more
1. Short-seller’s cybersecurity accusations push St. Jude Medical shares down
Allegations by a short-seller that nearly half of St. Jude Medical‘s cardiac rhythm management devices are extremely vulnerable to hackers sent the company’s stock down some 8% today in early-afternoon trading.
St. Jude Medical vehemently denied the charges, with their top R&D executive calling them “absolutely untrue.” Read more
