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. Nevro announces $125m funding round
Nevro Corp. today revealed a $125 million round of financing through the sale of convertible senior notes, due 2021, to support repayment of a term loan agreement, general corporate purposes and continued commercialization of its Senza spinal cord stimulation system.
The offering will include a 30-day underwriters option to purchase an additional $18.8 million aggregate principal amount of notes to cover an over-allotment, Redwood City, Calif.-based Nevro said. Read more
4. B. Braun files IV cath patent infringement suit against Becton Dickinson
B. Braun Medical said today it, along with its subsidiaries filed a patent infringement lawsuit against Becton Dickinson & Co. over 10 U.S. patents related to IV catheter safety mechanisms.
Bethlehem, Pa.- and Melsungen, Germany-based B. Braun said it is seeking an injunction and damages from Becton Dickinson for infringing on B. Braun’s patents through its manufacturing and distribution of its BD Insyte Autoguard BC IV catheter and the BD Nexiva closed IV catheter system. Read more
3. Medtronic expects rev from surgical bot system by FY2019
On Monday, Medical device giant Medtronic unveiled plans that would see income from a robotic surgery unit by 2019, an entry into the orthopedic hip and knee replacement market in 2017 and an application for FDA regulatory clearance for a hybrid closed-loop insulin pump this summer.
The company revealed these plans and outlined its financial strategies for the coming year yesterday during an investor day presentation. Read more
2. NuVasive picks up neuro monitoring provider Biotronic NeuroNetwork for $98m
NuVasive Inc. said yesterday it bought intraoperative neurophysiological monitoring service provider Biotronic NeuroNetwork for $98 million in cash.
Biotronic NeuroNetwork provides neurophysiological monitoring services to surgeons and healthcare facilities in the U.S., as well as remote physician oversight. The company supports more than 45,000 surgeries annually at more than 650 hospitals, NuVasive said. Read more
1. Zimmer Biomet to drop $1B on spine-focused LDR Holding
Zimmer Biomet said today it is buying spinal medical device company LDR Holding for approximately $1 billion.
Boards from both companies approved the acquisition agreement, the company said, with Zimmer Biomet slated to acquire all outstanding shares of LDR at $37 per share in cash. The company expects the deal to close in the 3rd quarter of 2016. Read more
