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. ADM Cleveland: Here are some top medtech manufacturing highlights
The inaugural Advanced Design and Manufacturing is showcasing some of the medical device industry’s top design and manufacturing technology this week at the Huntington Convention Center in Cleveland, Ohio.
From manufacturing depression treating machines to dry ice cleaning machines, here are 8 exhibitors you should check out at ADM Cleveland. Read more
4. Integer CEO Hook steps down
Integer Holdings said this week that current CEO Thomas Hook has stepped down as the company’s president and CEO, effective immediately, with Joseph Dziedzic taking over as interim prez & CEO.
Hook will stay on the Frisco, Texas-based company’s board until the company’s 2017 annual meeting of stockholders, but will not seek re-election. Read more
3. Not so fast: Utah’s Hatch thinks medtech levy repeal could still be part of tax reform
Despite House Republicans’ insistence that any taxes associated with Obamacare – including the medical device tax – won’t be part of the negotiations over tax reform, Sen. Orrin Hatch (R-Utah) that the overall tax package could include the repeal of taxes put in place by the Affordable Care Act.
The 2.3% excise tax on U.S. medical device sales was enacted along with the ACA in 2010 and went into effect in 2013. A 2-year moratorium put in place in 2015 is slated to expire at the end of this year; proponents of repealing the tax were hopeful that the ACA repeal-and-replace legislation that failed last week would put a permanent nail in the levy’s coffin. Read more
2. ConvaTec expands Unomedical infusion set biz for Medtronic
ConvaTec said today that it’s expanding its Unomedical infusion set business to keep pace with the diabetes segment at Medtronic.
The British wound care and colostomy supplies maker said the expansion of Unomedical’s production capacity is part of a decades-long partnership with Fridley, Minn.-based Medtronic. Unomedical makes disposable infusion sets for a range of Medtronic MiniMed insulin pumps, including the QuickSet, Silhouette, Sure-T and Mio sets. Read more
1. Boston Scientific puts up $435m for Symetis just ahead of IPO
Boston Scientific is putting up $435 million in cash for Symetis and its line of minimally invasive replacement heart valves, the companies said today.
The buyout halts the 2nd run at an initial public offering by Symetis, which launched the IPO March 20 in a bid to raise up to $66 million (€61.5 million) on the Euronext exchange in Paris. The Ecublens, Switzerland-based company, which acquired Middle Peak Medical and its transcatheter mitral valve implant just last month, spiked its 1st, $96 million IPO attempt in September 2015. Symetis employs about 300 workers worldwide. Read more
