Analysts are eagerly digging into the news that Stryker (NYSE:SYK) put in a takeover bid with Boston Scientific (NYSE:BSX), though many were surprised by the news and are unsure of the obvious strategic value of the acquisition. News of the deal, which both companies have officially responded to with statemens of “no comment,” emerged yesterday at the […]
Medtronic
Move carefully to the exit, veteran medtech sellers warn
Beyond their altruistic and sales goals, medical device startups generally keep an eye out for the exit. Getting there requires planning, patience and persistence, according to a couple of medtech executives who’ve been through it. Martha Shadan headed Plymouth, Minn.–based Rotation Medical, a private company sold to Smith & Nephew in December 2017, just three […]
Medtronic can’t slip whistleblower’s CRM suit
Medtronic (NYSE:MDT) must face a whistleblower’s lawsuit accusing it of running a kickbacks scheme to encourage doctors to implant its cardiac rhythm management devices. Plaintiff Cathleen Forney worked for Fridley, Minn.-based Medtronic for 16 years until she was fired from her role as a district service manager for the cardiac & vascular division in 2012, […]
Medtronic releases long term guidance
Medtronic (NYSE:MDT) today released updated guidance for the coming years, expecting to see organic revenue growth of 4% or above and adjusted earnings per share growth of 8%. The Fridley, Minn.-based company said it plans to achieve the growth rates by investing in higher growth markets, through initiatives supporting globalization and promoting economic value in its leading […]
FDA labels Medtronic Heartware recall as Class I
The FDA last Friday labeled a Medtronic (NYSE:MDT) voluntary select recall of its HeartWare HVAD systems over issues with unexpected power source switching as Class I. A Class I recall is the federal watchdog’s most serious class of recall, indicating the potential for serious injury or death. The devices are being recalled over possible interruptions in the […]
EuroPCR Roundup: Biotronik touts two-year study comparing drug-eluting stents
Biotronik yesterday presented two-year data from a trial comparing Boston Scientific‘s (NYSE:BSX) Synergy biodegradable polymer everolimus-eluting stent, Biotronik’s Orsiro sirolimus-eluting stent and Medtronic‘s (NYSE:MDT) Resolute Integrity zotarolimus-eluting stent. Results from the 3,514-patient trial showed no significant difference between the various stents regarding the rate of target vessel failure after two years. But analyses of one-year data found differences between the rates of […]
Medtronic tops estimates with fiscal Q4, 2018 results
Medtronic (NYSE:MDT) today reported fiscal fourth-quarter and 2018 numbers that beat Wall Street’s best guesses for sales and earnings. The Fridley, Minn.-based medical device giant posted profits of $1.46 billion, or $1.07 per share, on sales of $8.14 billion for the three months ended April 27, representing bottom-line growth of 25.5% on sales growth of […]
EuroPCR 2018 Roundup: Medtronic touts BP reductions, no major adverse events in renal denervation trial
Medtronic (NYSE:MDT) today released six-month results from a trial of its Symplicity Spyral renal denervation system exploring its use treating hypertensive patients who are already taking anti-hypertension medications, touting significant reductions in blood pressure and no major adverse safety events. Results were presented at the 2018 EuroPCR annual meeting in Paris and were published in The […]
8 companies commercializing transcatheter mitral valve replacements
Transcatheter mitral valve replacement is a new frontier in the cardio device field, with big legacy medical device companies including Edwards Lifesciences, Medtronic and Abbott spending hundreds of millions of dollars on companies in the space. Much different from transcatheter aortic valve replacement (TAVR), transcatheter mitral valve replacement (TMVR) has been mostly experimental. TMVR is used […]
Medtronic recalls select MindFrame Capture revascularization devices
The FDA today released a recall notice for a select number of Medtronic (NYSE:MDT) MindFrame Capture LP revascularization devices over issues with the delivery wire breaking or separating during use. The federal watchdog labeled the recall as a Class I, its most serious class of recall, which indicates the potential for serious injury or death. […]
DHS warns of cybersecurity weakness in Medtronic N’Vision neurostim programmer
The Department of Homeland Security this week released a report warning of cybersecurity vulnerabilities in Medtronic‘s (NYSE:MDT) N’Vision clinician programmer designed for use with neurostimulation devices that could allow outside agents to access personal health data. The DHS said that the vulnerability was originally reported by Whitescope LLC, and requires an individual gain physical access to […]