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.
MASSDEVICE ON CALL — The Minnesota Vikings highlighted some of their state’s most prominent features in order to win over the Super Bowl selection committee, including some of the North Star State’s most prominent medical device makers.
The ad lingers briefly on several of Minnesota’s biggest companies, such as Target and General Mills, but also pays homage to the state’s significant medtech presence, showcasing Medtronic, 3M Co. and knee brace maker OrthoCor. Read more
Medtronic agreed to pay $9.9 million, but admitted no wrongdoing, to settle a whistleblower’s lawsuit alleging that it ran a years-long kickbacks scheme to induce physicians to use its cardiac rhythm management devices.
The lawsuit, filed by former Medtronic business development manager Adolfo Schroeder, alleged that the Fridley, Minn.-based medical device company paid doctors to speak at conferences, created free marketing and business plans and gave them free tickets to sporting events, restaurants and even strip clubs. Read more
Stryker CEO Kevin Lobo yesterday admitted that his company was evaluating an acquisition of British orthopedics rival Smith & Nephew.
Rumors of the deal prompted investors to boost Smith & Nephew’s share price to £10.12 apiece yesterday, for a record high and a gain of some 17.5%. The surge forced Stryker to shelve the plan for at least 6 months under U.K. merger & acquisition rules, sending SN shares back down to earth. Read more