Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 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.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.
3. Withdrawn hip PMA was “purely a business decision,” says J&J
Johnson & Johnson responds to the latest ballyhoo over sales of its recalled metal-on-metal hip resurfacing implants, which were sold overseas for a year after being rejected for sale on the U.S. market.
2. Medical imaging industry girds for battle over Medicare cuts
Medical imaging cuts in President Barack Obama’s budget proposal, which are projected to save $820 million over 10 years, have medical device industry lobbies gearing up for a fight. Medical imaging advocacy groups told MassDevice.com that the proposal would restrict access to life-saving technologies, force imaging facilities in rural areas to close and raise costs.
1. Standard & Poor’s downgrades Medtronic
Standard & Poor’s Ratings Services downgraded Medtronic’s (NYSE:MDT) credit rating after the company reported declines for its bread-and-butter CRM and spine businesses – which together accounted for more than 50 percent of its total Q2 revenues.
