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. Titan Medical adds $900k to $8m overnight offering
Titan Medical said today that it brought in another $909,000 after the underwriters of an overnight offering picked up their over-allotment option.
Toronto-based Titan said it sold some 2 million shares at about 44.8¢ (C60¢) apiece, adding $909,000 (C$1.2 million) to the $7.7 million (C$10.25 million) it raised in the initial offering last month. Read more
4. Nihon Kohden wins $35m patient monitoring deal with US Defense Dept.
The American division of Japan’s Nihon Kohden won a Pentagon contract worth more than $35.3 million, the U.S. Defense Dept. said yesterday.
The 1-year deal, which has 8 1-year extension options, calls for Irvine, Calif.-based Nihon Kohden America to supply the U.S. Air Force, Army, Navy, Marine Corps and federal civilian agencies with its patient monitoring equipment, according to a press release. Read more
3. St. Jude Medical’s shareholders OK $25B Abbott buyout
St. Jude Medical said yesterday that its shareholders voted to approve its pending, $25 billion buyout by Abbott.
Preliminary results showed that about 99% of shareholders at the annual meeting voted to OK the deal, representing about 74% of all outstanding stock. Little Canada, Minn.-based St. Jude said it plans to release the final vote results in an SEC filing later this week. Read more
2. Zimmer Biomet picks up tele-rehab provider RespondWell
Zimmer Biomet said today that it paid an unspecified amount for tele-rehabilitation provider RespondWell, which it plans to fold into its recently launched Signature Solutions business.
RespondWell provides personalized, clinician-supervised post-surgical physical therapy programs for patients to complete at home after joint replacement surgery. Read more
1. Abbott slapped with $4m loss in age discrimination suit
A jury in Puerto Rico yesterday slapped Abbott with a $4 million loss in an age discrimination lawsuit filed by a former employee there.
Luz González Bermúdez sued Abbott and manager Kim Pérez in August 2014, alleging age discrimination after her transfer from Abbott’s Health Care Professional unit to its marketing group under Pérez. Read more
