Say hello to MassDevice +7, a bite-sized view of the top seven med-tech stories of the week. This latest feature of MassDevice.com’s coverage highlights our seven biggest and most influential stories from the week’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else this weekend, make sure you’re still in the know with MassDevice +7.
7. St. Jude touts Quadra win, warns docs on Riata leads
St. Jude Medical Inc. (NYSE:STJ) touted a regulatory win for its novel quadripolar pacing system while also warning doctors that its Riata defibrillator leads may pose a greater risk than previously reported.
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6. Diabetes: FDA releases artificial pancreas guidance
The FDA released a long-awaited draft guidance on an approval pathway for “artificial pancreas” devices, a breakthrough treatment for patients with Type I diabetes.
5. Bovie Medical slaps COO over credentials
Bovie Medical Corp. (NYSE:BVX) is demoting COO Moshe Citronowicz and cutting his pay and benefits after determining that he misrepresented his academic career. Citronowicz has been with the electrosurgery company since 1993.
4. FDA chemist to pay $4M to SEC
A former FDA chemist who faces 20 years in prison after pleading guilty to using a confidential agency database to time stock market trades agreed to pay $3.8 million to settle the insider trading case filed by the Securities & Exchange Commission.
3. Will Olympus hold a fire sale to weather fee scandal?
Olympus Corp. (TYO:7733) plans to examine its corporate structure as it struggles to keep its head above water amid an accounting scandal that’s slashed more than half the value from its stock price in six short weeks.
2. Acquisition chatter surfaces again for SNN
There’s more chatter across the pond about a possible acquisition of Smith & Nephew (NYSE:SNN). Shares of the British orthopedics giant slipped initially but have regained some of their value since more talk of a possible buyout surfaced in the U.K. last week.
1. Medtronic CFO: We’ll strip another $1.2B in costs over 5 years
Medtronic (NYSE:MDT) CFO Gary Ellis said the world’s largest pure-play device maker plans to shave at least $1.2 billion in costs from its operations, even as the company closes out a five-year, $1 billion initiative that lowered its expenses by 25 percent.
