Medtronic (NYSE:MDT) said today that it enrolled the 1st European patient in a huge, real-world study of the SuperDimension lung device it acquired along with Covidien early last year. The 2-year, 2,500-patient Navigate trial is designed to evaluate the performance of the LungGPS electromagnetic navigation bronchoscopy technology the SuperDimension device uses to navigate the lungs. The single-arm post-market study […]
Covidien
Report: Medtronic scales back at former Covidien HQ in Mass.
Medtronic (NYSE:MDT) is scaling back in Mansfield, Mass., as it looks to cut costs at the former headquarters of its Covidien subsidiary.* Medtronic spokesman Fernando Vivanco told MassDevice.com today that Medtronic is consolidating from 4 to 3 buildings it leases in Mansfield, about an hour south of Boston. The move is part of a conversion to a “flexible workspace” that allows […]
Minn. court resurrects lawsuit over Medtronic’s Covidien buyout
A Minnesota appeals court yesterday revived a lawsuit filed by Medtronic (NYSE:MDT) shareholders looking to block the mega-merger with Covidien that closed a year ago today. Medtronic paid $50 billion to acquire Covidien in the biggest medical device acquisition ever. But shortly after the deal was announced during the summer of 2014, shareholder Lewis Merenstein sued in Hennepin County […]
Medtronic inks $221m IRS settlement
Medtronic (NYSE:MDT) agreed to pay out up to nearly $221 million to settle a tax dispute with the U.S. Internal Revenue Service that it inherited when it bought Covidien last year. The IRS dunned Covidien’s corporate predecessor, Tyco International, in June 2013, disallowing deductions it took from 1997 to 2000 for some $2.8 billion in loans made […]
Appeals court hands J&J’s Ethicon a loss in stapler patent spat with Covidien
A federal appeals court today upheld a patent board’s decision to invalidate some claims in a surgical stapler patent owned by Johnson & Johnson (NYSE:JNJ) subsidiary Ethicon, following a challenge lodged by Medtronic (NYSE:MDT) subsidiary Covidien. Covidien asked the U.S. Patent & Trademark Office for an inter partes review of 14 claims in patent 8,317,070, covering […]
Medtronic mulls sale of some Covidien assets
With 3 quarters of operations under its belt since the $50 billion acquisition of Covidien, Medtronic (NYSE:MDT) is evaluating whether to sell off some of the Covidien assets, CEO Omar Ishrak told analysts yesterday during a conference call. Ishrak said Covidien, which Medtronic calls its minimally invasive therapies group, has “a very clear and compelling vision for the future, […]
Supreme Court denies Covidien in $177m surgical shears spat with J&J’s Ethicon
The long-running patent infringement war between Medtronic’s (NYSE:MDT) Covidien subsidiary and Johnson & Johnson‘s (NYSE:JNJ) Ethicon Endo-Surgery unit over surgical shears appears to be over, after the U.S. Supreme Court today declined to review the case. Covidien in August asked the Supremes to hear its appeal of a December 2014 decision by the U.S. Court of Appeals for the Federal Circuit, which […]
Medtronic shrugs off new Treasury inversion rules
Medtronic (NYSE:MDT) today shrugged off new U.S. Treasury Department rules that clamp down on so-called “inversion” deals that move U.S. companies to foreign tax jurisdictions. In an inversion, a U.S. company typically buys a smaller foreign rival and relocates, at least on paper, to the rival’s home country so the new combined company is not U.S.-based, though core management […]
Medtronic’s Covidien, J&J’s Ethicon bury most of the hatchet in surgical shears spat
Medtronic (NYSE:MDT) subsidiary Covidien and Johnson & Johnson’s (NYSE:JNJ) Ethicon Endo-Surgery unit largely agreed to bury the hatchet in their longtime dispute over patents covering surgical shears. The U.S. Court of Appeals for the Federal Circuit last year overturned a decision awarding $177 million to Covidien, after a Connecticut judge ruled that Ethicon Endo-Surgery’s Harmonic Ace +7 shears infringed surgical shears patents held by Covidien’s […]
Report: M&A fueling personnel growth at large medtech firms
The raging mergers & acquisitions market in medtech is responsible for expanding personnel bases at large medical device companies, according to a report from EP Vantage. The market analysis firm analyzed growth across the medtech sector and reported that none of the top 15 medtech companies, chosen by market capitalization, had seen a net decrease in personnel over the […]
Covidien wants Supreme Court to hear appeal in $177m patent spat with Ethicon
Medtronic‘s (NYSE:MDT) Covidien subsidiary wants the U.S. Supreme Court to hear its appeal in a patent infringement case against Johnson & Johnson‘s (NYSE:JNJ) Ethicon Endo-Surgery unit over surgical shears. In December 2014 the U.S. Court of Appeals for the Federal Circuit overturned a decision granting a $177 million award to Covidien in the U.S. District Court for Connecticut, where Judge Janet Bond […]