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. Want to sell your medtech startup? Be one of these three things
Peter Stebbins meets with a lot of medtech startups as medical device transactions lead at Johnson & Johnson. Often, they could benefit from a better grasp of what J&J is looking for.
“It’s not infrequent that someone with an idea perceives it should make sense to J&J, but they don’t understand where our business is in that space,” Stebbins said. Read more
4. Philips wins $7m in mixed-bag patent spat ruling with Zoll Medical
Royal Philips has been awarded a net of $7.1 million in a mixed-bag decision in a patent infringement spat with Zoll Medical over patents related to defibrillation electrodes.
Chelmsford, Mass.-based Zoll Medical said today it was awarded $3.3 million in damages from a federal jury in Boston, but that it was also ordered to pay Philips $10.4 million in damages for infrigning on 2 patents associated with monitoring patient impedance. Read more
3. RTI Surgical deals cardiothoracic biz to A&E Medical for $60m
RTI Surgical said today it sold its cardiothoracic closure business to Vance Street Capital portfolio company A&E Advanced Closure systems for $60 million.
Through the deal, RTI Surgical will receive an initial $54 million in cash with an additional $6 million in contingent cash consideration for its cardiothoracic closure business, which was part of its Pioneer Surgical Technology acquisition in July 2013 and provides cardiothoracic sternal metal cable and plating systems. Read more
2. Reva Medical pursues direct-sales after Boston Scientific distro negotiation deal lapses
Reva Medical said today it will take up direct marketing of its peripheral and vascular scaffolds after Boston Scientific‘s right to negotiate for exclusive distribution of the products expired.
San Diego, Calif.-based Reva said that Boston Scientific had gained the right to negotiate for exclusive distribution rights under a 2007 agreement which would have positioned them to pay Reva 50% of average selling price for all product sales. Read more
1. Auris Surgical reels in $280m in stealthy Series D round
Auris Surgical Robotics has stealthily raised a massive $280 million in a Series D round of financing, according to the company’s website and an SEC filing posted today.
Money in the round came from 39 investors, led by newly invested Coatue Management and joined by Mithril, Lux Capital and Highland Capital Partners, according to the filing and the company’s website. Read more