Sterigenics said today that it has applied for permits to upgrade emissions controls at its Willowbrook, Ill. medical device sterilization plant, which had sterilized thousands of devices daily until its Feb.15 shutdown. The Illinois Environmental Protection Agency (EPA) closed the Willowbrook plant, citing excessive emissions of the sterilant ethylene oxide (EO), based on a federal […]
Sterilization plant closures: Here’s why you need to care
The recent shutdown of a Sterigenics medical device sterilization plant in Willowbrook, Ill. has affected medtech giants such as Becton Dickinson (NYSE:BDX), Boston Scientific (NYSE:BSX), Medtronic (NYSE:MDT), Smith & Nephew (NYSE:SNN) and Stryker (NYSE:SYK), according to an FDA list of devices processed at the sterilization plant. Medium-sized and smaller firms, including Teleflex (NYSE:TFX), Arthrex and ArthroCare also had devices processed there. The Willowbrook plant sterilized 594 types of devices, including sutures, clamps, […]
Ex-ArthroCare CEO Baker loses appeal of 20-year sentence
A federal appeals court this week upheld the 20-year sentence imposed on former ArthroCare CEO Michael Baker after his second conviction in a $750 million fraud case. Baker and ex-ArthroCare CFO Michael Gluk were first convicted in June 2014 on charges that they ran a scheme to inflate revenues by dumping inventory, first with a distributor called DiscoCare and eventually via free shipments […]
Ex-ArthroCare CEO Brown draws 20-year sentence
A federal judge in Texas last week accepted prosecutors’ recommendations in sentencing former ArthroCare CEO Michael Baker to a 20-year prison term after his conviction in a $750 million fraud case. Baker and ex-ArthroCare CFO Michael Gluk were convicted in June 2014 on charges that they ran a scheme to generate false revenue numbers by dumping inventory, first with a distributor called DiscoCare and […]
Prosecutors want ex-ArthroCare CEO Baker to do 20 years for fraud conviction
Federal prosecutors in Texas want a judge to sentence former ArthroCare CEO Michael Baker to a 20-year prison term after his conviction in a $750 million fraud case. Baker and ex-ArthroCare CFO Michael Gluk were convicted in June 2014 on charges that they ran a scheme to generate false revenue numbers by dumping inventory, first with a distributor called DiscoCare and eventually via free […]
Conviction stands for ex-ArthroCare CEO Baker in $750m fraud case
A federal judge Texas this week upheld the conviction of former ArthroCare CEO Michael Baker on eight counts of wire fraud, rejecting his argument citing a recent U.S. Supreme Court case. Baker and ex-ArthroCare CFO Michael Gluk were convicted in June 2014 on charges that they ran a scheme to generate false revenue numbers by dumping inventory, first with a distributor called DiscoCare […]
Ex-ArthroCare CEO Baker convicted again in fraud case
A federal jury in Texas last week handed former ArthroCare CEO Michael Baker another loss in his second trial over an alleged $750 million fraud scheme, after a federal appeals court last year overturned his first conviction. Baker and ex-ArthroCare CFO Michael Gluk were convicted in June 2014 on charges that they ran a scheme to generate false revenue numbers by dumping inventory, […]
Ex-ArthroCare CEO Baker looks to dismiss wire fraud charges
Former ArthroCare CEO Michael Baker is looking to dismiss multiple counts of wire fraud based on a recent Supreme Court ruling which defined requirements for obtaining property as the result of a crime. In the trial, Baker is looking to dismiss 8 counts of wire fraud based on the recent reaffirmation by the Supreme Court […]
Ex-ArthroCare CFO pleads guilty to single count after 10-year sentence overturned
Former ArthroCare CFO Michael Gluk, who last year won his appeal of a 10-year sentence after being convicted of running a scheme to defraud investors of more than $750 million, yesterday pleaded guilty to a single count of conspiracy to commit wire fraud and securities fraud. Gluk and ex-CEO Michael Baker were convicted in June 2014; Baker was sentenced […]
Appeals court tosses convictions of ex-ArthroCare CEO, CFO
A federal appeals court yesterday overturned the criminal convictions of 2 former executives at ArthroCare, ruling that a lower court was wrong to exclude some and admit other evidence in their trials. Former ArthroCare CEO Michael Baker and ex-CFO Michael Gluk were convicted in June 2014 of running a scheme to defraud investors of more than $750 […]
Stryker agrees to pay $80M to settle OtisMed beef | Medtech legal news for the week of December 8, 2014
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