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. Early collaboration is key in drug-device development, experts say
While pharmaceutical companies and medical device firms know that working together is a vital part of doing business, they “live in 2 different world in many ways,” Minnetronix co-founder Dirk Smith said last week at the annual Drug Delivery Partnerships conference.
From development timelines to regulatory approval pathways, it can sometimes seem like pharma and medtech companies are speaking different languages. Read more
4. FDA expands indication for Medtronic’s OsteoCool
Medtronic said today that it won an expanded indication from the FDA for its OsteoCool RF ablation device for palliative treatment of metastases in all bony anatomy.
The OsteoCool RF device was previously indicated for use in the spine, according to Fridley, Minn.-based Medtronic. It’s used to ablate metastatic bone tumors. Medtronic acquired the technology when it bought Baylis Medical for an undisclosed amount back in December 2015. The original OsteoCool device 1st won 510(k) clearance in March 2012. A 2nd version landed another 510(k) in June 2015, and Montreal-based Baylis won a nod in November 2015 for the 3rd iteration. Read more
3. Smith & Nephew, Arthrex settle 12-year suture anchors spat
Smith & Nephew and Arthrex this week buried the hatchet on a 12-year-old dispute over patents covering suture anchors used in joint repair surgeries.
Details on the settlement, which puts to bed several lawsuits filed in federal court in Texas, were not disclosed, according to court documents filed Feb. 13. Read more
2. Symetis acquires mitral valve maker Middle Peak Medical
Symetis said yesterday that it acquired Middle Peak Medical, and the transcatheter mitral valve replacement device it’s developing, for an undisclosed amount.
Middle Peak, which counts Edwards Lifesciences among its backers, is developing a TMVR device that’s designed to simulate the shape of the posterior leaflet to stop mitral regurgitation. Read more
1. Integra LifeSciences bids $1B for Johnson & Johnson’s Codman Neurosurgery biz
Integra LifeSciences said today that it’s floating a $1.05 billion cash offer for Johnson & Johnson unit Codman Neurosurgery.
Plainsboro, N.J.-based Integra said it plans to finance the buyout with cash on hand, a credit revolver and a new term loan; BofA Merrill Lynch and JPMorgan are backing the deal, the company said. Codman Neuro put up sales of about $370 million last year, but Integra said it expects “some initial disruption” in the 1st year after closing, with growth established at 3% to 6% over the long term. The new business is forecast to add 22¢ to adjusted earnings per share in the 1st year, Integra said, noting its aim to get its overall sales to the $2 billion mark. Read more
