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. AirXpander’s AeroForm tissue expander transforms decades-old procedure
For 40 years, plastic surgeons have used saline injections to expand tissue and prepare patients for breast implants following mastectomies. These tissue expanders consist of a silicone shell with a magnet and a self-sealing port; a doctor uses a different magnet above the skin to access the port and inject saline to stretch the skin. The process is lengthy – patients come into the doctor’s office every week for as much as 3 months.
Dr. Tracey Stokes, a plastic surgeon based in Fort Lauderdale, Fla., has spent 11 years working with mastectomy patients, often using saline expanders to prepare them for breast implants. Not surprisingly, Stokes told MassDevice.com, many patients are daunted by the prospect of such a lengthy and painful series of procedures. Read more
4. Intuity Medical adds $15m to Series C for Pogo glucose meter
Intuity Medical said today that it added another $15 million to the $40 million Series C round it reported late last year, bringing the round’s total to $55 million.
Sunnyvale, Calif.-based Intuity said KCK Group joined round leaders PTV Healthcare Capital and affiliates of Luther King Capital Management as new investors; existing backers Accuitive Medical Ventures, Investor Growth Capital, U.S. Venture Partners, Venrock and Versant Ventures also participated. Read more
3. MassDevice Q&A: Greenberg Traurig’s Lori Cohen on defending product liability lawsuits
When it comes to defending product liability lawsuits, it’s tough to top Greenberg Traurig’s Lori Cohen and her 98.3% winning percentage – she’s 57-for-58 lifetime in the courtroom.
Cohen, a shareholder at the law firm, is chairwoman of GT’s pharmaceutical, medical device & healthcare litigation practice and its trial practice group. Based in Atlanta, she’s saved her medical device and pharmaceutical clients at least $174 million in potential damages over the years. Read more
2. Sofar puts another $5m into TransEnterix
TransEnterix said today that Italy’s Sofar SpA agreed to buy a $5 million stake in lieu of a $10 million milestone payment as the duo amended the $100 million deal for Sofar’s Telelap ALF-X robot-assisted surgery device – now known as Senhance.
In September 2015, TransEnterix bought the Senhance technology for $25 million up front and about 15.5 million TRXC shares worth roughly $43.7 million. Another $31.1 million was on the table in potential milestones. Read more
1. Abbott closes $25B St. Jude buy
Abbott said today it closed its $25 billion buy of St. Jude Medical, permanently tying up the 2 major medtech players.
Under the merger agreement, St. Jude Medical will now be a wholly-owned subsidiary of Abbott, with its last day of trading on the NYSE ending today. Read more