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. Hospital purchasing hits the C-suite
Hospital executives are increasingly involved in decision-making when it comes to their organizations’ medical device spends and are looking for ways to collaborate with medtech to drive value, according to a panel of hospital CEOs at the MassMEDIC annual conference this week in Boston.
“Without C-Suite involvement, many decisions were based on surgeons’ preferences. That is not the case anymore,” said Trish Hannon, president & CEO of Boston’s New England Baptist Hospital. “If we are not better and have better outcomes with this particular [new] device, implant, etc., then we are going to say no. The context is, as the payment systems change, we are now in the risk business. We are managing provider risk, but also the risk associated with outcomes depending upon the contract with the payer. That payer contract is no longer just the health plan, it’s also Medicare, and they are the largest purchaser of medical devices in the country.” Read more
2. Boston Scientific prices $1.85B debt offering
Boston Scientific priced a debt offering it plans to use to cover its $1.65 billion acquisition of Endo International’s American Medical Systems urology business.
Marlborough, Mass.-based Boston Scientific said it also plans to use the proceeds to pay down other debt. Read more
1. TAVI: Direct Flow taps ex-CoreValve chief Lemaitre
The former Medtronic executive who led CoreValve to its $800 million acquisition is looking to compete with both of his former employers in the transcatheter aortic valve implant space.
Direct Flow Medical said today that it hired Daniel Lemaitre to be its president & CEO, replacing Bernard Lyons, who plans to retire effective immediately. Direct Flow said it also tapped David Boyle, a finance veteran from the pharmaceutical industry, to be its new CFO. Read more
