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. Using CRM devices as forensic clues
Pacemakers and other cardiac rhythm management devices could help solve forensic cases by revealing a time and cause of death in cases where an autopsy is inadequate, according to a study presented today at EHRA Europace Cardiostim 2017.
Lead author Dr. Philipp Lacour said in a statement that using CRM devices as clues could help satisfy an unmet need – nearly 30% of forensic cases remain unsolved because the autopsy does not clarify the cause or time of death. Read more
4. Bard, Covidien settle more than 130 pelvic mesh cases
C.R. Bard and several subsidiaries of Medtronic unit Covidien settled more than 130 product liability lawsuits brought over pelvic mesh products.
The lawsuits were part of multi-district litigation being overseen in the U.S. District Court for Southern West Virginia. last week and yesterday Judge Joseph Goodwin dismissed 134 of the cases with prejudice “because all claims have been compromised and settled, including all claims, counterclaims, cross-claims and third party claims,” according to court documents. Read more
3. Reva closes $35m financing round
Reva Medical said today that it closed the 2nd tranche of its $34.6 million financing round. The company issued $47.1 million convertible notes, 2,119,500 options for the purchase of common stock and repurchased $12.5 million of its common stock from 1 unnamed investor.
The San Diego, Calif.-based company’s 1st commercial product is its Fantom sirolimus-eluting bioresorbable coronary scaffold. The device won CE Mark approval in the European Union in April. Read more
2. Medical device execs find ally in HHS chief Price on medtech tax
The covey of medical device executives that alit on Capitol Hill last week to lobby for repealing the medtech tax and getting a new user fee deal with the FDA in place reportedly found a ready ally in Dr. Tom Price, head of the U.S. Health & Human Services Dept.
More than 50 medical device company officials met with dozens of legislators and federal officials June 15, pressing for a repeal of the 2.3% tax on U.S. medtech sales enacted as part of Obamacare. Although the tax is currently in abeyance, it’s set to go back into effect next year. Read more
1. Analysts: Stryker might not be the only bidder for Novadaq
Stryker might not be the only firm in the running for Novadaq Technologies, according to analysts responding to Stryker’s $701 million bid for the Canadian fluorescence imaging company.
Mississauga, Ontario-based Novadaq yesterday agreed to the $11.75-per-share bid, which offers a 95.8% premium on NVDQ’s $6 closing price June 16. That agreement – and the high premium – was likely the result of a bidding process, according to Leerink Partners analysts Richard Newitter and Ravi Misra. Read more
