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.
Boston Scientific said today that it closed on the $415 million cash buyout of Bayer AG’s interventional unit it announced last May.
The deal adds atherectomy and thrombectomy devices to Boston Scientific’s portfolio; Bayer’s Minneapolis-area interventional unit, which employs about 350 workers, makes the AngioJet thrombectomy system, Fetch 2 aspiration catheter and JetStream atherectomy device. The division posted sales of roughly $120 million last year, Boston Scientific said at the time. Read more
MASSDEVICE ON CALL — FDA medical device regulators reported this month that industry giant Medtronic (NYSE:MDT) issued a recall affecting nearly 560,000 units of its MiniMed Paradigm Infusion pumps.
Medtronic is not asking for the devices back, but is advising users to take extra care when programming their insulin dosage. The company has received reports that patients have accidentally programmed their insulin pumps to deliver the maximum bolus amount. Read more
A pair of former ArthroCare executives found guilty of defrauding investors drew hefty prison sentences last week for their parts in a scheme estimated to have cost investors more than $750 million.
Ex-ArthroCare CEO Michael Baker was sentenced August 29 to 20 years and former CFO Michael Gluk was sentenced to 10 years by Judge Samuel Sparks of the U.S. District Court for Western Texas. Read more