SmileDirectClub (NSDQ:SDC) shares skyrocketed following the announcement that its clear aligners are set to be offered through the wholesale channel in dentist and orthodontist offices. The Nashville, Tenn.-based company’s announcement follows the Dec. 31, 2019, expiration of its exclusive supply agreement with Align Technology (NSDQ:ALGN). After yesterday’s announcement, shares of SDC are up 16.24% at $13.60 per […]
Medtech trade lobbies unite for anti-tax push
A group of medical device industry trade associations are joining together to push the U.S. Congress toward repealing the medical device tax that’s been in abeyance since 2015. MDMA, AdvaMed, MITA and a group of medical innovators, physician inventors, patient groups and more today sent a letter urging congressional leadership to permanently repeal the medical […]
Avalign pays $10m to settle fraud charges in uncleared devices case
Avalign and its Instrumed International subsidiary agreed to pay $9.5 million to settle federal charges that it sold medical devices that weren’t cleared for the U.S. market. The case, which has already cost Instrumed distributor CareFusion $3.3 million, involves devices that Instrumed claimed as pre-amendment devices that were exempt from FDA regulations instituted in May 1976. […]
Avalign Technologies acquires Thortex and Millennium Surgical
Avalign Technologies announced that is has acquired Thortex and Millennium Surgical. The financial details of the deal were not disclosed. Thortex provides precision manufacturing, porous coatings and metal injection solutions to the medical device market. It has porous coating solutions for titanium and cobalt-chrome orthopedic implants and manufacturing and engineering technologies for medical device OEMs. […]
Arlington Capital buys Avalign
Arlington Capital said today that it acquired medical device maker Avalign Technologies in a sale financed by CIT Healthcare. Forest, Ill.-based Avalign manufactures implants, specialty instrumentation, cutting tools, cases and trays for the orthopedic medical device and specialty surgical markets. “We are extremely pleased to be partnering with Arlington Capital. Avalign is committed to improving […]
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