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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When it comes to Boston Scientific succeeding in the medical device industry, CEO Mike Mahoney says it is about “category leadership.”
Health providers, especially in the U.S., are consolidating, so Boston Sci needs to persuade hospital system officials that its products are the best in particular areas. “Category leadership is everything. Hospitals – whether you’re in Korea or St. Paul – they want innovation at low cost,” Mahoney said today at Healthegy’s Medtech Conference in Minneapolis. Read more
Prefilled drug delivery system developer Vetter and medical device maker Microdermics said yesterday that the companies are working to develop a novel microneedle drug delivery system.
Microdermics has developed a low-cost, commercially scalable, customizable microneedle platform that delivers vaccines and biologics. The company said it expects its intradermal delivery system will enter Phase I clinical trials this year. Read more
Former employees at the Centers for Medicare & Medicaid Services pleaded not guilty yesterday to charges that they used confidential information on Medicare reimbursement changes for radiation treatments and dialysis in a nearly $4 million insider trading scheme.
Federal prosecutors last month accused political consultant David Blaszczak, founder of Precipio Health Strategies and the one-time colleague at CMS of Christopher Worrall, of feeding inside information on the rate changes from Worrall through Blaszczak to traders at Deerfield Management. The traders – Ted Huber and Rob Olan – are accused of using the information to make moves on healthcare stocks affected by the Medicare rate changes, allegedly racking up profits of $3.9 million. Another Deerfield trader, Jordan Fogel, pleaded guilty in May. Read more
Medtronic is recalling some of its Kyphon instrument that deliver bone cement after discovering a misalignment issue with the devices.
The Fridley, Minn.-based company sent a letter to customers last month detailing the issue with the Kyphon directional bone filler, saying it received 2 reports that “the directional arrow at the proximal end of the instrument may not correctly align with the cut‐out opening on the distal end of the instrument.” Read more
Boston Scientific and Abbott subsidiary St. Jude Medical must face lawsuits brought by the University of California alleging that their ablation catheters infringe a pair of patents covering atrial fibrillation treatments.
The university’s regents sued the companies last October (a similar suit was brought against AtriCure the next month, according to court documents), accusing the companies of violating patents covering the invention by UC-San Francisco professor Dr. Michael Lesh of a technique to isolate the pulmonary vein via catheter ablation. Read more