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. Report: Stryker could move for Smith & Nephew ‘soon’

A Stryker bid for Smith & Nephew could be in the works at a significant premium to the British orthopedic & wound care firm’s share price.

Citing “people with knowledge of the matter,” Bloomberg reported that Stryker’s offer could come as soon as the coming weeks. One source said the premium could be as high as 30%, according to the news service. Read more

2. Covidien inks deal to settle lawsuit over Medtronic merger

Covidien said last week that it inked a deal that would settle a consolidated derivatives lawsuit filed by shareholders seeking to block the medical device company’s pending merger with Medtronic.

The case is the consolidation of a trio of derivatives lawsuits dating back to July, the month after news broke of the blockbuster $43 billion mega-deal. Mansfield, Mass.-based Covidien said Dec. 23 that it inked a memorandum of understanding to settle the case with the plaintiffs. Read more

1. Judge won’t stop Medtronic plan to cover $63m tax tab for execs, directors

A federal judge in Minnesota last week declined to bar a Medtronic plan to cover more than $63 million in taxes its $43 billion buyout of Covidien would incur for its top executives and directors.

The plaintiffs had asked the judge for a preliminary injunction barring the gross-up plan, but she declined, ruling that the plaintiffs failed to exhaust their remedies under Minnesota law before filing the derivatives lawsuit. Read more