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. Tactile Systems sets terms for $60m IPO
Leg compression device developer Tactile Systems Technology set the terms for its initial public offering today, saying it plans to float 4 million shares at $14 to $16 apiece. At the midpoint, that would fetch $60 million, or 30% less than the $86 million projection the company put up when it registered the IPO in January. Read more
4. Study: Insurance restrictions on lumbar fusions push procedure volumes down
An insurance policy limit on lumbar fusion procedures helped slash costs and medically unnecessary surgeries in North Carolina, and the approach could work nationally, according to new research published in the journal Spine. Read more
3. House bill would force docs to report medical device problems to FDA
A bill expected to be introduced today in the U.S. House of Representatives would require doctors to tell the FDA about problems they encounter with medical devices. The “Medical Device Guardian’s Act,” co-sponsored by Reps. Mike Fitzpatrick (R-Pa.) and Louise Slaughter (D-N.Y.), would amend the Food, Drug & Cosmetic Act “to require physicians and physician’s offices to be treated as covered device users required to report on certain adverse events involving medical devices.” Read more
2. NxStage Medical jumps on Baxter’s exit from the home hemodialysis market
Share prices for NxStage Medical (NSDQ:NXTM) jumped this week after Baxter (NYSE:BAX) CEO Joe Almeida said the company is pulling the plug on its Vivia home hemodialysis device. Read more
1. Boston Scientific: Headcount ‘relatively unchanged’ in restructuring, but some layoffs ahead
Boston Scientific said yesterday that the next stage in the turnaround engineered by chairman & CEO Mike Mahoney will involve an unspecified number of layoffs, although its overall headcount will likely remain “relatively unchanged.” Read more
