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.
Medical device companies opted to fill in their portfolios with niche acquisitions during the 1st quarter, rather than venturing into new treatment areas or looking to diversify, according to a report by a healthcare investment bank.
Acquisition activity in medtech was “defined by companies’ leveraging core-competencies and expanding distribution channels, not diversification or ventures into a new field of medicine,” according to the Walden Group’s “Q1 2014 Strategic Healthcare M&A Report.” Read more
Israeli device maker Keystone Heart raised $14 million in a Series B funding round in support of its TriGaurd implant, designed to help protect the brain during transcatheter valve replacement procedures.
The company plans to use the funds to launch clinical trials in the U.S. and Europe to generate data in support of ongoing commercial efforts. Keystone also hired Hank Hauser as its vice president of clinical operation to oversee the trials. Read more
Medicare proposed to cover surgeries to fix or replace leaky heart valves called transcatheter mitral valve procedures, issuing a draft National Coverage Decision for the procedure.
A positive coverage decision would be a boon for Abbott, which has the only TMVR device approved by the FDA for the U.S. market, the MitraClip. Read more