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.
Medtech titan Boston Scientific announced today that it acquired IoGyn, maker of the Symphion system for removing intrauterine tissue, for $65 million, not including previous investments.
California-based IoGyn is a pre-commercial company, but it comes with FDA approval for its Symphion device, an alternative to “power morcellation” procedures that were the subject of a recent FDA warning. Read more
Siemens unveiled a massive reorganization today that could be the 1st step toward a spinout for its healthcare business, which posted 19% profit growth during Siemens’ fiscal 2nd quarter.
The restructuring will see the German industrial giant flatten is business, eliminating a layer of management at the sector level and consolidating its 16 divisions into 9. Siemens also said it plans to spin out its 4,000-employee hearing aid business into a public company as part of the move, dubbed “Vision 2020.” Read more
St. Jude Medical revealed a new U.S. Justice Dept. probe into its cardiac implant sales.
St. Jude said it received a Civil Investigative Demand last month from the the DoJ as part of an investigation into allegations that the company may have paid illegal kickbacks to encourage physicians to buy St. Jude’s cardiac devices. The company provided few other details, but said that it’s working with the DoJ to respond to the inquiry. Read more