Philips will pay at least $613 million to settle economic lawsuits related to its recall of millions of CPAPs and other respiratory devices. U.S. District Court Judge Joy Flowers Conti, who has been overseeing the multidistrict litigation out of her court in Western Pennsylvania, approved the final settlement yesterday. “The amount of value created and […]
Latest News on MassDevice
How Philips’ significant respiratory devices recall unfolded
There are 5.5 million recalled CPAPs and other devices — and reports of deaths. Here’s a Philips recall timeline. Philips in mid-2021 kicked off a recall that involved millions of CPAP and BiPAP ventilators and other respiratory devices. The devices — used for sleep apnea therapy and more — had sound abatement foam that could […]
Roivios wins FDA breakthrough nod for renal assist device
Roivios announced today that it received FDA breakthrough device designation for its JuxtaFlow renal assist device (RAD). The Bahamas-based medical device company designed JuxtaFlow to improve treatments for patients facing kidney disease during cardiac surgery. JuxtaFlow uses a unique, gentle negative pressure technique on the kidneys’ urine-collecting system. It enhances function and shield against hypoxia-induced […]
Align Technology announces $150M repurchase program
Align Technology (Nasdaq:ALGN) announced today that it plans to repurchase $150 million of its own common stock. The open-market repurchase falls under the company’s $1 billion stock repurchase program approved in January 2023. Align Technology executed a $250 million repurchase in February 2023 with Citibank. In October, the company triggered another $250 million repurchase in an […]
4WEB Medical wins regulatory clearance for Anterior Spine Truss System
4WEB Medical this week announced it received regulatory clearance for its Anterior Spine Truss System with Anchor Fixation (ASTS-AF). The Dallas-based orthopedic implant company’s current anterior lumbar implant offering includes a traditional interbody with the option of an integrated plate and a standalone interbody with screw fixation. The regulatory clearance expands the company’s portfolio to […]
LivaNova says cybersecurity breach included personal info for U.S. patients
LivaNova provided additional info regarding a cybersecurity incident first brought to light in late 2023. In November, the company disclosed a cybersecurity breach that disrupted portions of its information technology systems and business operations. This incident came shortly after another large medtech company, Henry Schein, experienced a significant breach as well. London-based LivaNova now says […]
Report: Abbott files trio of patent lawsuits over CGM tech in Europe
Abbott (NYSE:ABT) filed three patent lawsuits against SiBionics and its distribution partner in Europe, JUVE-Patent reports. The lawsuits include patent infringement allegations centered around continuous glucose monitoring (CGM) devices, according to the report. Abbott filed them against China-based SiBionics and its sales partner Umedwings at the Unified Patent Court. SiBionics develops, manufactures and distributes CGM […]
FDA approves Medtronic’s Inceptiv closed-loop rechargeable spinal cord stimulator
Medtronic announced today that it received FDA approval for the Inceptiv closed-loop rechargeable spinal cord stimulator (SCS) system. Inceptiv treats chronic pain and represents Medtronic’s first SCS device to offer a closed-loop feature. This feature senses each person’s unique biological signals, adjusting stimulation moment-to-moment as needed. Medtronic says that keeps therapy in harmony with the […]
Edwards Lifesciences beats the Street in Q1 and increases sales outlook
Edwards Lifesciences reported first-quarter results that exceeded Wall Street expectations after market close today. The maker of catheter-delivered heart implants — including transcatheter aortic valve replacement (TAVR) systems and transcatheter mitral and tricuspid therapies (TMTT) — also increased its full-year sales guidance. EW’s stock price was relatively flat in after-hours trading. Irvine, California–based Edwards Lifesciences […]
Dexcom stock slides despite Q1 beats, sales guidance increase
Dexcom shares took a hit after hours today on first-quarter results that came in ahead of the consensus forecast on Wall Street. Shares of DXCM dipped about 7% to $128.40 apiece after the market closed today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day […]
ResMed sees increased sleep device demand, stock rises on Q3 beats
ResMed shares ticked up after hours on third-quarter results that came in ahead of the consensus forecast. Shares of RMD rose more than 4% to $191 apiece after the market closed today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the day down 1%. The San […]