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. The evolution of OCTANe and Orange County’s technology ecosystem
OCTANe, the Aliso Viejo, Calif.-based industry council set up to nurture and grow the technology ecosystem in Orange County, is on the move.
Last month, the technology council said that it would merge with the Mission Viejo, Calif.-based Orange County Technology Alliance, keeping the OCTANe name. That move, according to OCTANe CEO Bill Carpou, will enable the dual industry alliances to grow their combined events business and further solidify Orange County as a technology super-hub. Read more
4. Israeli technical institute takes a stake in NovoCure after patent settlement
A pair of Israeli technical institutes, the Technion Research and Development Foundation and the Technion – Israel Institute of Technology, agreed to accept a stake in NovoCure as part of a settlement inked last year to avert a potential patent dispute.
The parties agreed in February 2015 to resolve “certain potential intellectual property disputes” between NovoCure, its founder & CTO Yoram Palti and Technion. The agreement granted the Israeli institute an option on some 1 million NVCR shares with no exercise price, according to a regulatory filing. Read more
3. Report: Medtech seeing shrinking VC funds, less startups
AdvaMed today released a report cautioning about a “future at risk” in medtech, warning that a lack of startups and shrinking venture capital funds could compromise the industry as a whole.
The medtech advocacy group also included a number of solutions and was optimistic about the future, noting shortened time-to-approval for new devices through the FDA and policy wins, such as the suspension of the medical device tax. Read more
2. Johnson & Johnson’s Q3 numbers top estimates, medical devices biz grows slightly
Third-quarter sales ticked up 4% and profits grew at a double-digit clip for Johnson & Johnson, the company said today, and its medical devices business posted sales growth of just more than 1%.
The New Brunswick, N.J.-based healthcare giant said its medtech business – the world’s 2nd-largest after Medtronic – posted sales of $6.16 billion for the 3 months ended Sept. 30. Domestic medical device sales grew 1.4% to $3.05 billion, with international medtech sales at $3.11 billion, up 0.7%. Read more
1. Abbott, St. Jude Medical to deal vascular assets to Terumo for $1B
Abbott and St. Jude Medical, the subject of a pending, $25 billion acquisition by Abbott, agreed to deal some of their respective vascular assets to Japan’s Terumo Corp. for about $1.12 billion.
The sale involves St. Jude’s Angio-Seal and Femoseal vascular closure devices and Abbott’s Vado steerable sheath, the companies said today. Abbott said it will retain its overall vascular closure business, including the Perclose ProGlide, StarClose SE and Prostar XL products. The transaction is subject to a successful consummation of the Abbott-St. Jude merger, which is slated to close by the end of this year. European anti-trust regulators are slated to decide by Nov. 9 whether to clear the deal. Read more
