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.
Senate Republicans, infuriated over Democrats’ refusal to allow amendments to a bill that would extend some tax cuts, voted to block the tax extenders bill yesterday.
The GOP bloc wanted to introduce an amendment that would repeal the 2.3% medical device tax enacted as part of Obamacare and another to strike a wind production tax credit. But majority leader Sen. Harry Reid (D-Nev.) closed off the minority’s ability to introduce amendments and sent the tax bill to a cloture vote that need 60 “ayes” to pass. Read more
Stryker failed to convince a California federal judge last month that it had no employment relationship with a former sales rep working for its Howmedica subsidiary.
Tanner Trosper, the sales rep, sued Stryker and Howmedica last year, alleging failure to reimburse employees for business-related expenses and failing to have a reimbursement policy in place, as required by California law, according to court documents. Stryker asked Judge Lucy Koh of the U.S. District Court for Northern California to dismiss the putative class action, arguing that ” Trosper has failed to produce evidence demonstrating the existence of an employment relationship between Trosper and Stryker,” according to the documents. Read more
Boston Scientific’s $415 million acquisition of Bayer AG’s interventional unit is a strong move for the company, but it may bode ill for other peripheral players.
The deal makes a company like Cardiovascular Systems a less attractive acquisition target for the medtech titan, Wall Street analysts said today. Making matters worse, Boston Scientific may stand to turn its newly acquired JetStream atherectomy device into a major concern. Read more