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. Alere files suit against Abbott to force $6B buyout
Alere said today it filed a lawsuit against Abbott, looking to force the company to obtain all antitrust approvals required to complete its $5.8 billion acquisition of Alere.
The complaint was filed in Delaware Chancery Court and seeks to “compel Abbott to fulfill its obligations under the terms of the merger agreement.” Read more
4. Labor dispute prompts withdrawal of job offers at GE Healthcare
A dispute with an Irish labor union reportedly prompted GE Healthcare to withdraw job offers to several prospective employees just a day before they were to start.
The imaging giant is in the middle of a $44.7 million (€40 million) buildout of a facility in East Cork, Ireland, and had made the job offers to help staff the 140-worker expansion, according to the Irish Examiner. Read more
3. Titan Medical loses clinical & regulatory EVP Fowler
Titan Medical said today that its executive vice president for clinical & regualtory affairs, Dr. Dennis Fowler, plans to resign effective August 31.
Toronto-based robot-assisted surgery company Titan, which is grappling with the suspension of its product development program, said Fowler’s duties will be divided on an interim basis between qualitry director James Shore and corporate accounts VP Christopher Seibert. Shore will assume responsibility for regulatory and Seibert will take on the project manager role for the Sport device, the company said, noting that Fowler “is willing to be available to Titan as a consultant.” Read more
2. Medtronic touts 12-month data on Micra leadless pacemaker
Medtronic yesterday touted 12-month results for its Micra leadless pacemaker, released at the annual meeting of the European Society of Cardiology in Rome, showing a vastly lower safety profile than conventional implanted pacemakers.
Fridley, Minn.-based Medtronic said the Micra device, which is designed to be implanted inside the heart via catheter, showed 96% freedom-from-complication rate and cut the risk of major complications by 48%. The risk was lower across subgroups including age, gender and comorbidity, the company said. Risk of hospitalization was lower by 47% and the risk of revision procedures was 82% lower for the Micra cohort, according to the study. The Micra’s battery is projected to last an average of 12 years, based on data from the 644 patients who have had the device for at least 12 months. Read more
1. St. Jude Medical denies short-seller’s accusations
St. Jude Medical sharply rebutted allegations by a short-seller that nearly half of its cardiac rhythm management devices are extremely vulnerable to hackers.
St. Jude Medical vehemently denied the charges, with their top R&D executive calling them “absolutely untrue.” Read more
