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.
Si-Bone said yesterday that the medical device company raised a $21 million funding round and hired Laura Francis as its new CFO.
The round was led by new investor Redline Capital Management and included participation from all existing backers, Si-Bone said. The proceeds are slated to be used to fund U.S. and European expansion, as the company said it expects its market to grow 6-fold in the next 3 years. Read more
A former accountant for SpineFrontier sued the company this month for wrongful termination, alleging that the spinal implant maker fired her for raising concerns about manufacturing processes later flagged by the FDA in a warning letter.
Patricia Katz was hired by Beverly, Mass.-based SpineFrontier as a senior accountant in February 2011, according to court documents. But soon after her employment began, “Katz voiced concern about SpineFrontier’s lot tracking and tracing procedures, which involved little to no tracking,” she alleged in a lawsuit filed in the U.S. District Court for Massachusetts. Read more
Johnson & Johnson said today that it accepted a binding offer worth about $2 billion for its Cordis stent-making arm from Cardinal Health.
The New Brunswick, N.J.-based healthcare giant said it expects the deal to close “towards the end of 2015.” Read more