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. Medical device’s biggest players doled out $895m to docs in 2015
The 25 largest medical device companies paid out a collective $894.6 million in general and research fees to doctors in 2015, according to data from the Centers for Medicare & Medicaid Services released last month.
The CMS Open Payments program, created under the Affordable Care Act with the aim of improving transparency, requires device and drug manufacturers to report payments to healthcare providers for things like speaking engagements about their products and research grants. General payments can include such costs as travel and lodging and food and beverages. Read more
4. Ex-Medtronic CEO George: Trump’s anti-trade talk risks ‘crony capitalism’
If the administration acts on Donald Trump’s protectionist campaign rhetoric, it could cripple the U.S. economy and lead to “crony capitalism,” former Medtronic CEO Bill George said this week.
George, who led Medtronic from 1991 to 2001, said Trump’s vow to reward businesses for bringing jobs back to the U.S. “would lead to crony capitalism” as companies look to catch the White House’s eye. Read more
3. Report: AdvaMed all-in on medical device tax repeal
Including language repealing the medical device tax in an upcoming reconciliation bill is reportedly the Advanced Medical Technology Assn.’s #1 priority, even as Republicans on Capitol Hill disagree on repealing Obamacare-related taxes ahead of repealing the entire Affordable Care Act.
A 2-year moratorium on the 2.3% levy on U.S. medical device sales is slated to expire at the end of this year. Last month, Sen. Orrin Hatch (R-Utah) co-sponsored a bill that would amend the Internal Revenue Code to repeal the medical device tax; a similar move is afoot in the House. Read more
2. TransEnterix touts French debut for Senhance robot-assisted surgery device
TransEnterix yesterday touted the 1st clinical use in France of its Senhance robot-assisted surgery platform.
The 1st French case, performed by Dr. Celine Chauleur of CHU Saint-Ètienne, was a hysterectomy to treat endometrial cancer with pelvic lymphadenectomy Feb. 7. The patient was discharged less than 24 hours after surgery, Toronto-based TransEnterix said. Read more
1. Hologic to buy Cynosure in $1.65B deal
Hologic said today that it landed a deal to acquire Cynosure Inc. and its portfolio of medical aesthetics products for $1.65 billion.
Marlborough, Mass.-based Hologic offered $66 per share – a 28% premium compared to Cynosure’s close yesterday. Read more