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. Natus puts up $145m for GN Otometrics, cuts guidance on shipment hold
Shares in Natus Medical, which said today that it agreed to put up $145 million for GN Store Nord‘s otometrics hearing and balance diagnostics business, plunged today after Natus cut its 3rd-quarter guidance due to a voluntary shipment hold at its Seattle facility.
Pleasanton, Calif.-based Natus said it plans to fund the GN Otometrics buyout with a $150 million credit revolver from JP Morgan Chase and Citibank, plus offshore cash. The deal is expected to close by the end of 2016. Read more
4. Obalon Therapeutics sets terms for $75m IPO
Obalon Therapeutics today set the terms for its forthcoming initial public offering, saying it plans to float 5 million shares at $14 to $16 apiece.
At the midpoint, the weight loss device maker’s IPO would fetch $75 million. Carlsbad, Calif.-based Obalon won pre-market approval from the FDA earlier this month for its ingestible, gas-filled weight-loss balloon and plans to have it on the U.S. market in early 2017. Read more
3. Accuray touts 5-year CyberKnife data in prostate cancer trial
Accuray today released 5-year data from a study of its CyberKnife stereotactic body radiotherapy device for treating prostate cancer, touting a 97% rate of freedom from cancer at 5 years.
Results from the study were presented at the American Society for Therapeutic Radiology & Oncology’s annual meeting in Boston. Read more
2. FDA clears Medtronic’s StealthStation DBS lead placement software
Medtronic said today that the FDA granted 510(k) clearance for its StealthStation software, which is designed to help plan the placement of the leads used for deep-brain stimulation therapy.
Fridley, Minn.-based Medtronic said StealthStation is designed to work with its O-arm imaging system to integrate pre-operative planning and intraoperative imaging during DBS device implantations. Read more
1. Wearable heart monitor maker iRhythm registers for $86m IPO
iRhythm Technologies last week registered for an initial public offering worth $86 million it plans to use to expand the commercial and clinical footprint of its Zio wearable cardiac monitor.
San Francisco-based iRhythm won 510(k) clearance for the Zio device in 2009. It’s designed to be worn for 14 days to log heartbeat data; the company says Zio has been used on 500,000 patients, collecting some 125 million hours of “curated heartbeat data, creating what we believe to be the world’s largest repository of ambulatory ECG patient data.” Read more
