
Say hello to MassDevice +3, a bite-sized view of the top three medtech 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. Medtronic founder Bakken backs Covidien buy
Medtronic founder Earl Bakken told employees yesterday that he’s all for the pending, $3 billion acquisition of Covidien, writing from Hawaii that he views the deal as a way to expand Medtronic’s mission.
“As I see it, the most profound outcome of this relationship will be the ability to spread our Mission. We can serve more patients, in more ways, and in more places around the world than ever before. Instead of saying Medtronic improves a life ‘every 3 seconds,’ I expect that we’ll eventually be able to say ‘every second.’ Imagine that! And with Covidien sharing our ‘patient first’ focus, think of all the good we can do,” Bakken wrote in a memo distributed to Medtronic employees. Read more
2. Stryker owes $2M after exhausting insurance limit in knee implant lawsuits
Orthopedics giant Stryker is on the hook for a $2 million payment to its insurance company after a court ruled this week that the insurer is entitled to recoup the deductible.
A court ruled this week that XL Insurance America is entitled to the $2 million self-insured retention payment included in its contract with Stryker after exhausting the $15 million limit in the device maker’s insurance policy. Read more
1. Boston Scientific’s 2nd bellwether pelvic mesh trial kicks off
The 2nd bellwether trial over pelvic mesh products made by Boston Scientific kicked off in a Massachusetts state court yesterday, a few weeks after the medical device company won its 1st product liability bellwether.
The latest trial, Maria Cardenas vs. Boston Scientific Corp., is expected to take 2 to 4 weeks, according to Law360.com. Cardenas alleges that Boston Scientific’s defective design of the transvaginal mesh sling caused her injuries, the website reported. Read more