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. Xtant Medical amends Orbimed credit line to $15m, taps restructuring advisors
Xtant Medical said today that it amended its senior credit line with OrbiMed Advisors, saying it plans to use the $15 million facility to pay off the $9 million it owes to Silicon Valley Bank.
The balance is earmarked for general working capital, the Belgrade, Mont.-based spinal implant maker said. Orbimed also deferred interest payments that were due in January and March to June 30, Xtant said. Read more
4. Over-allotments take BD offering to nearly $5B
The underwriters of a $4.5 billion offering by Becton Dickinson exercised their over-allotment options, the medical device giant said today, taking the total proceeds to $4.95 billion.
Franklin Lakes, N.J.-based BD plans to use the proceeds to help defray the cost of its $24 billion acquisition of C. R. Bard. Read more
3. Senseonics, TypeZero ink development deal for artificial pancreas
Senseonics said yesterday that it inked a non-exclusive R&D license agreement with TypeZero Technologies to develop artificial pancreas and decision support systems for its Eversense continuous glucose monitor.
The companies plan to integrate glucose readings from the Eversense system with TypeZero’s inControl artificial pancreas algorithms to regulate insulin delivery through a user’s insulin pump. The integration will also allow TypeZero’s decision support system to recommend basal and bolus doses for insulin pen users. Read more
2. Medtronic options QT Vascular’s Chocolate PTA peripheral balloon
Medtronic agreed to acquire an option on the Chocolate PTA non-drug-coated balloon made by QT Vascular to treat peripheral vascular disease.
The purchase price is $28 million, according to Singapore’s Business Times, pegged to “achievement of certain milestones,” the company said. In February the companies inked a 5-year deal calling for Medtronic to distribute the Chocolate PTA device. Read more
1. Boston Scientific touts 1-year stroke reduction results in Watchman non-valvular AF trial
Boston Scientific today released 1-year results from the Ewolution registry study of its Watchman left atrial appendage closure device, touting a high implant success rate and stroke reduction in patients with non-valvular atrial fibrillation patients.
Data was presented today at the Heart Rhythm Society’s 39th Annual Scientific Sessions in Chicago. Read more
