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.
Researchers successfully decoded electrical activity in the brain, using scans to guess what a patient was listening to. Scientists from 4 universities eavesdropped on words that patients heard, correlating brain activity with the sound that produced it.
Newly privatized Kinetic Concepts Inc. is shuffling the deck, naming a new chairman, new CEOs for two of its businesses and announcing plans to spin out a third. The wound care giant was taken private in a $6.1 billion leveraged buyout last year by Apax Partners and a pair of Canadian pension funds.
The FDA’s medical device arm released its strategic priorities for the year, saying it plans to focus on 4 areas. The watchdog agency’s Center for Devices & Radiological Health said it plans to concentrate on fully implementing a "total product life cycle approach," enhance its internal and external communication and transparency, strengthen its workforce, and "proactively facilitate innovation."
Russian authorities are expected to implement new medical device regulations concerning authorized representation, vigilance, country-of-origin approval and other issues within the next several weeks.
Medtronic, Inc. (NYSE:MDT) today closed the sale of its Physio-Control defibrillator business to Bain Capital for $478 million in cash. The deal, first announced in November 2011, included the promotion of Brian Webster from president to CEO of newly independent automated external defibrillator maker.
Medtronic Inc. (NYSE:MDT) is exploring its options regarding a patent infringement loss decided by a jury this week. An Oklahoma jury ordered Medtronic to pay $9.9 million in back royalties for willfully infringing on a guidance catheter patent owned by Dr. Jan Voda.
After a year of negotiations, the medical device industry and the FDA signed off on a tentative agreement for the next 5 years of med-tech user fees, nearly doubling the industry’s expected buy-in and setting some "game-changing" expectations for the agency.