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. Value-based healthcare: Itamar Medical debuts apnea management offering
Sleep apnea device maker Itamar Medical said it’s debuting a new, value-based business model aimed at cardiologists, offering to help providers coordinate all stages in the diagnosis and treatment of obstructive sleep apnea and cardiovascular disease.
The Israeli company, which has offices in Franklin, Mass., said its “Total Sleep Solution” includes a national network of independent diagnostic testing facilities, durable medical equipment service providers and sleep physicians. It also includes CloudPAT, a cloud-based IT platform linking Itamar’s WatchPAT home monitor with providers. Read more
2. InVivo reports mixed results in spinal scaffold trial
InVivo Therapeutics said the 1st acute spinal cord injury patient implanted with its investigational neuro-spinal scaffold has shown some improvement, but that a 2nd patient remains paralyzed below the waist, leading investors to punish the company’s stock price last week.
Shares of Cambridge, Mass.-based InVivo closed at $12.75 May 14, down -6.5% on the news from its investigational device exemption pilot study. The stock recovered a bit the next closing at $13.06 for a 2.4% gain on the day. Read more
1. Whistleblowing ex-Covidien rep sues for wrongful termination
A former sales rep for Covidien’s vascular business accused the company of wrongful termination after it fired him for blowing the whistle to the FBI on an alleged kickbacks scheme.
Erin Hayes, who started with VNUS Medical Technologies in 2008, about a year before Covidien bought it, alleged that a high-volume vascular surgeon in Southern California tried to shake down the company. The surgeon said Covidien would need to pony up a kickback in order to keep West Coast Vascular’s business, according to the lawsuit, filed Feb. 23 in a California state court. Covidien had the case removed to the U.S. District Court for Northern California May 12, according to court documents. Read more
