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. Contract manufacturer Paramit picks up Lathrop Engineering
Medical device contract manufacturer Paramit said today it picked up medical instrumentation product development company Lathrop Engineering for an undisclosed amount. Read more
4. ResMed shuffles the deck at Brightree, taps Mellott as subsidiary’s new CEO
ResMed announced a mix-up at its Brightree business, tapping home medical equipment industry vet Matt Mellott as its new CEO and Bobby Ghoshal as the subsidiary’s new COO. Former Brightree chief executive Dave Cormack will transition into a multi-year advisory role, the company said. Read more
3. Could pharma exec’s acquittal help accused ex-Acclarent officials?
The acquittal last week of a former pharmaceutical executive, charged in a kickbacks scheme to win business from doctors, could prove a boon for a pair of medical device executives facing similar charges.
A jury in Massachusetts federal court cleared former Warner Chilcott pharmaceutical president Carl Reichel of charges that he coach sales reps to woo doctors by taking them to expensive dinners and paying them fees for medical-education speeches, according to news reports. Read more
2. Supreme Court declines review in $4m Globus loss to doc inventor
The U.S. Supreme Court yesterday declined to review Globus Medical‘s $4.3 million loss to the physician who invented some of its spine implant technology.
Dr. Sabatino Bianco sued Globus in March 2012, alleging that the company’s Caliber, Caliber-L and Rise adjustable interbody spacers were based on trade secrets stolen from him in 2007. In January 2014, a jury in the U.S. District Court for Eastern Texas found that Globus had stolen the trade secrets but was not liable for breach of contract, awarding damages of $4.3 million, according to court documents. Read more
1. Philips acquires Irish digital pathology firm PathXL
Royal Philips said today that it acquired an Irish digital pathology firm, PathXL, for an undisclosed amount.
The acquisition of Belfast-based PathXL and its digital pathology image analysis tech is part of the Dutch conglomerate’s shift toward its healthcare business. Last month Philips sold off a 25% stake in its legacy lighting business – its last non-healthcare unit – as part of a plan to pare its operations. Read more
