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. Insurer owes Stryker $8m for Duracon Uni-Knee settlements

Stryker can recoup from an insurer the $7.6 million it paid out to cover settlements in product liability lawsuits over its Duracon Uni-Knee implants, a federal judge ruled yesterday.

Stryker acquired the Duracon Uni-Knee with its $1.9 billion buyout of Howmedica from Pfizer in 1998. Stryker ended up paying out $7.62 million to settle the liability suits after problems with the implant surfaced, suing XL Insurance America and TIG Insurance Co. to cover its losses. Read more

2. Zimmer reveals post-Biomet merger plans

Zimmer revealed the management team and post-merger business structure it expects to implement after the close of its pending $13.35 billion merger with crosstown rival Biomet, including its new name: Zimmer Biomet.

David Dvorak, now Zimmer’s president & CEO, will keep that role at Zimmer Biomet. Twelve other executives from both organizations will report to Dvorak, according to a press release. Read more

1. Medtronic unveils post-merger management structure

Medtronic CEO Omar Ishrak unveiled what the medical device giant’s management structure will look like after it closes its mega-merger with Covidien early next year.

According to an employee presentation filed with the SEC, the ‘new’ Medtronic will be comprised of 4 major business segments, headed by Medtronic’s 3 existing group presidents, plus Covidien group president Bryan Hanson. Read more