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. NSF International acquires Prosystem
NSF International recently acquired German medical device consulting firm Prosystem AG, expanding its medical device consulting services into Europe.
The company’s acquisition helps expand medical device business into Europe and allows NSF International to meet an increasing demand for medical device consulting, education and training services in Europe. It also allows NSF International’s customers to have a better understanding of the medical device industry and its changing regulatory landscape in Europe. Read more
4. Biotronik launches trial to test new coronary drug-eluting stent
Biotronik said yesterday that it began enrolling patients in a trial designed to assess the safety and efficacy of a new coronary drug-eluting stent in de novo coronary artery lesions.
The Biovitesse polymer-free device combines ultra-thin struts with a new anti-proliferative limus drug designed to stop excessive cell growth, the company reported. Read more
3. Shockwave Medical raises $35m for Lithoplasty devices
Shockwave Medical said today that it raised another $35 million for the Lithoplasty devices it’s commercializing to treat blocked arteries.
Fremont, Calif.-based Shockwave said it plans to use the new funding, which was led by new backer Fidelity Management & Research, to commercialize its existing devices for treating coronary and peripheral vessels in the U.S. and Europe and to evaluate the Lithoplasty tech in treating aortic valve stenosis. T. Rowe Price Assoc. also participated in the financing, which Shockwave said was an extension of its $45 million Series C round. Read more
2. India pulls an about-face on Abbott’s Xience Alpine stent
India’s Department of Pharmaceuticals has stopped Abbott from pulling its Xience Alpine drug-eluting coronary stent from the market.
The move is a reversal from the National Pharmaceutical Pricing Authority’s decision last month to allow Abbott to withdraw the device over a one-year period. Read more
1. Natural disasters take their toll on Medtronic
Hurricane damage in Puerto Rico and wildfires rampaging in Northern California put a hit on Medtronic in recent weeks, with the company estimating a $250 million hit from Hurricane Maria and evacuating facilities in Sonoma County, Calif.
Fridley, Minn.-based Medtronic said last week that Maria damaged each of its plants in Puerto Rico, operated across all four of its divisions. Although all sites are partially up and running and limited production began Oct. 2, the company said it expects to take a $250 million hit to both sales and adjusted profits during its fiscal second quarter ending Oct. 27. Read more