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. Nestle poaches Fresenius CEO Schneider
Nestle lured the CEO of Fresenius, Ulf Mark Schneider, to the corner office this week. Fresenius promoted CFO Stephan Sturm to replace Schneider. Read more
4. Biotronik wins CE Mark for Edora MRI-adaptable pacers
Biotronik said today that it won CE Mark approval in the European Union for its Edora line of MRI-adaptable pacers.
The German medical device company said the Edora pacemakers and cardiac resynchronization therapy pacemakers use a sensor called MRI AutoDetect that’s designed to ensure that the device goes into safe mode only during magnetic resonance scans, ensuring that the device continues to deliver therapy for as long as 14 days after the sensor is activated. Once the scan is over, the Edora device automatically resumes therapy without needing to be reset by a physician, Biotronik said. Read more
3. Spirometrix lands $17m Series C for breath-based diagnostic device
Spirometrix said yesterday that it raised $17.4 million in the 1st tranche of its Series C round for the breath-based diagnostic device it’s developing for asthma patients.
Shanghai Fosun Pharmaceutical led the round, joined by prior investors NGK Spark Plug, South Valley Angels, Iconical, Ohio Innovation Foundation and Carmen Innovation, Spirometrix said. Read more
2. NuVasive ponies up $45m to settle Medtronic beef
NuVasive Inc. said yesterday that it agreed to pay Medtronic $45 million to settle their long-running patent infringement beef.
The companies expect to reach a final agreement within 15 days, putting to rest a battle that began when Medtronic subsidiary Warsaw Orthopedic sued NuVasive in 2008. San Diego-based NuVasive counter-sued; in September 2011 a jury split the verdict, awarding $101.2 million in damages to Medtronic and $660,000 to NuVasive. Read more
1. Bioventus files for $150m IPO
Orthobiologics maker Bioventus yesterday registered for an initial public offering it plans to use to pay off debt.
Durham, N.C.-based Bioventus was formed in 2012 when Smith & Nephew spun out its biologics and clinical therapies division in a joint venture with venture capital firm Essex Woodlands. In October 2014 Bioventus acquired the OsteoAMP product line from Advanced Biologics for an undisclosed amount; late last year the company added BioStructures, a developer of absorbable bone grafts, also for an undisclosed amount. In January Bioventus named former Medtronic CEO Bill Hawkins as chairman. The company tapped the CEO of Abiomed, Mike Minogue, for a seat on the board last week. Read more
