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.
Drug-eluting devices maker Intersect ENT hopes to raise as much as $80 million in a newly registered initial public offering, according to SEC documents filed this week.
Intersect has yet to detail pricing or the number of shares it’ll offer, but said it hopes to use the funds to support clinical trials and additional research & development. The company may also look for some strategic acquisitions, but noted that there were no targets in its sights as of yet. Read more
Covidien yesterday leveled another patent infringement lawsuit against Johnson & Johnson’s Ethicon Endo-Surgery division, alleging that the latest iteration in Ethicon’s ultrasound surgical shears infringes 3 Covidien patents.
The lawsuit alleges that Ethicon’s Harmonic ACE+7 ultrasound shears violate the same trio of Covidien patents Ethicon was found to infringe last year. Read more
The pending marriage of Medtronic and Covidien has generated a lot of buzz and has been hailed as a strong move for the companies, but venture capitalists say it’s a downer for startups.
Both Medtronic and Covidien are big buyers of medtech startups, but aren’t likely to be making many acquisitions as they spend a few years integrating their businesses. Read more