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.
3. Presbia files for $90M IPO
Presbia, which makes the Flexiview Micro-Lens corneal implant to treat presbyopia, registered with the SEC for an initial public offering of up to $90 million worth of stock.
The Flexiview Micro-Lens is designed to be inserted into a pocket created in the cornea using a laser. The pocket seals itself, holding the 3mm-diameter lens in the center of the visual axis. The 10-minute procedure is reversible and does not require general anesthesia, according to Presbia’s website. Read more
2. Smiths Medical is off the block after dismal H1 earnings
European engineering conglomerate Smiths Group took its Smiths Medical division off of the auction block, saying it plans to keep the family together amid a tough 1st half and after a multi-billion-dollar deal with CareFusion fell through.
CareFusion was in talks to pay as much as $3.3 billion (£2 billion) for Smiths Medical, according to various reports, but those negotiations collapsed in August 2013. Read more
1. FDA: Medtech recalls up 97% since 2003, but that’s a good thing
The annual number of medtech recalls nearly doubled from 2003 to 2012, but FDA regulators are calling the skyrocketing figures a win.
There were 604 total recalls in 2003, compared with 1,190 in 2012. The number of Class I recalls, tied to product defects that the FDA says pose a risk of “serious adverse health consequences or death,” increased more than 8-fold, from 7 in 2003 to 57 in 2012. Read more
