A group of prosthetic device makers has pledged to provide financial support to victims of the Boston Marathon bombing who lost limbs as a result of last month’s attack.
The American Orthotic & Prosthetic Association launched its "Coalition to Walk and Run Again," an effort to aide uninsured and under-insured victims of the April 15th bombing. The attack killed 3 people and left more than 200 injured, several of whom lost portions of their legs as a result.
The medical device tax set to take effect next year as part of the Affordable Care Act will see all medical device companies pay a 2.3% levy on U.S. sales. But the tax is likely to strike some companies a lot harder where it hurts the most: the bottom line.
MASSDEVICE ON CALL — Orthopedic surgeons may be spending billions each year ordering unnecessary tests in order to protect themselves from potential liability lawsuits, a national survey found
More than ¾ of survey respondents said they would order fewer tests "if there was significant medical liability reform."
Researchers calculated that the "defensive medicine" efforts cost Medicare about $2.1 billion each year, MedPageToday reported.
Thoratec (NSDQ:THOR) shares are up more than 11% today after the heart pump maker put mid-double-digit profit growth numbers on the board for the 4th quarter and full-year 2011.
The Pleasanton, Calif.-based cardiac assist device maker logged profits of $15.3 million, or 25 cents per diluted share, on sales of $109.4 million for the 3 months ended Dec. 31, 2011. That’s a 46.4% bottom-line gain and a top-line boost of 12.1%, compared with profits of $10.5 million, or 17 cents diluted EPS, on sales of $97.6 million during Q4 2010.
MASSDEVICE ON CALL — A new documentary short entitled "Heart Stop Beating" was released recently, detailing the efforts of 2 doctors who successfully replaced a man’s entire heart with a "continuous flow" rotor-driven device.
The implant proved for the first time that it’s possible to live without a pulse or a heartbeat.
SonoSite (NSDQ: SONO) said it’s replacing retiring CFO Marcus Smith with Anil Amlani, head of its VisualSonics subsidiary.
Smith’s last day as the ultrasound device maker’s top financial mind is today; he’s slated to stay on at the Bothell, Wash.-based company until Jan. 5, according to a press release.
Smith had been with SonoSite since 2007, according to the release.