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. FDA chides Covidien on handling of surgical staple recall
The FDA warns Covidien on missing documentation and delayed management of its recall of the Duet TRS surgical staples that were implicated in 13 patient injuries and 3 deaths.
6. J&J says unsealed FDA letters on vaginal mesh sales taken “out of context”
More details about Johnson & Johnson’s marketing of controversial transvaginal mesh implants without FDA clearance may prove problematic for the healthcare giant as it seeks to defend against a slew of patient injury lawsuits, but the company maintains that it acted in good faith and that new reports are misleading.
5. St. Jude Medical: Failed Durata lead not related to Riata issues
The report of a single Durata defibrillator lead failure that shaved 6% from St. Jude Medical’s share price was due to external abrasion, not the "inside-out" abrasion that prompted the company to pull its Riata leads.
4. Boston Scientific sells Prolieve device back to Medifocus for $5M
Boston Scientific sells the Prolieve benign prostatic hyperplasia treatment system back to Medifocus in a deal worth up to $5 million.
3. VCs are looking for “the novelty, the breakthrough, the next big idea”
Venture capitalists are no longer looking for a safe bet – they’re on the hunt for disrupters. Managing directors from venture capital firms tell MassDevice where they’re looking to place their limited resources and why the old "play-it-safe" model was broken.
2. Stryker to begin New York layoffs ahead of the medical device tax
Stryker’s plans to cut more than 100 jobs by closing 2 New York manufacturing facilities will begin in September and continue on a rolling basis until the end of the year, just ahead of implementation of the 2.3% medical device tax.
1. Medical device tax survives Supreme Court ruling
The U.S. Supreme Court this morning voted to uphold the the healthcare reform law, meaning the medical device tax is likely to stand.
But medical device makers calling for the repeal of the device tax aren’t planning on stemming their efforts, with some viewing the long-awaited SCOTUS ruling as a catalyst for movement in Congress.
MassDevice has you covered with all the news on this historic ruling and its impact on the medical device industry.
MassDevice coverage of the SCOTUS ruling
- Medical Device Tax: The road to 60 repeal votes
- Did medical device companies avoid “worst case scenario” with SCOTUS ruling?
- Medical Device Tax: Repeal hopes fade with SCOTUS ruling on ACA
- SCOTUS ruling on healthcare reform a long-term boon for medical device companies
- Med-tech companies react to Supreme Court ruling
