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. Resilience Capital Partners creates Innovatus Imaging
Private equity firm Resilience Capital Partners recently announced that one of its funds has acquired three medical device service and manufacturing units, allowing the firm to establish a presence in the healthcare industry. The financial details of the deals were not disclosed.
The firm acquired the Multi Vendor Service (MVS) unit of Bayer’s radiology business, Wetsco, and MD MedTech (MDMT). The three companies are set to combine to operate under a new name: Innovatus Imaging Corp. Read more
4. ElectroCore raises $36m, looks to raise $29m more
ElectroCore has raised $36 million in a new round of equity and options financing, according to an SEC filing posted this week.
The Basking Ridge, N.J.-based company is seeking an additional $29 million in the round to bring the total to $65 million. Read more
3. Japan approves Medtronic’s In.Pact Admiral drug-coated balloon
Medtronic said today that its In.Pact Admiral drug-coated balloon won approval from the Japanese Ministry of Health, Labour and Welfar for the treatment of peripheral artery disease in the upper leg.
Before the medtech giant can begin commercialization of its drug-device combination product, it must gain reimbursement from the Japanese regulatory body, Medtronic said. Read more
2. Broncus Medical affiliate acquires Uptake Medical
Uptake Medical said yesterday that its InterVapor device for treating emphysema is back on the market in Europe after its acquisition for an undisclosed amount by an affiliate of Broncus Medical.
Broncus set its purchase up under a new entity based in Seattle, Uptake Medical Technology, and plans to add markets in Australia and Asia to its commercial footprint in Europe by the end of the year. The InterVapor device uses heated water vapor to reduce lung volume in emphysema patients. Uptake won an expanded CE Mark in the European Union for InterVapor in August 2015. Read more
1. J&J’s Ethicon hit with $57m verdict in pelvic mesh case
Johnson & Johnson subsidiary Ethicon has been hit with a $57.1 million verdict in a pelvic mesh case out of Pennsylvania, according to a report from The Inquirer.
A jury in Philadelphia ordered the subsidiary to pay the damages to a woman who was left chronically incontinent and with chronic pain after being implanted with a defective pelvic mesh implant, according to the report. Read more