A federal court in New York has denied Medtronic a preliminary injunction in its non-compete-agreement lawsuit against former Medicrea CEO Joseph Walland. Judge Edgardo Ramos of the U.S. District Court of Southern New York, in a Sept. 10 order, ruled that the agreement between Walland and Medtronic was covered by the law in California, where […]
Medicrea
Medicrea to pay $2M in alleged Medicare kickback scheme
French medical device manufacturer Medicrea International and its American affiliate Medicrea USA have agreed to pay $2 million to settle alleged kickbacks to physicians and other Medicare Open Payments program violations. The company agreed to pay $1 million to the U.S. and participating states to resolve civil whistleblower allegations that the company violated the Anti-Kickback […]
Medtronic completes Medicrea acquisition
Medtronic (NYSE:MDT) today said it has completed the acquisition of Medicrea and its spinal surgery tech. The deal was announced in July when Medtronic said it would buy the France-based company for a tender offer price of €7.00 (nearly $7.84) per share for a premium of 22% over the closing price of shares on July 14, […]
MedTech 100 roundup: Industry hits pandemic peak
After five months since medtech stocks peaked before the COVID-19 pandemic rocked the markets, the industry inched back toward that pre-pandemic high. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 88.9 points at the end of last week (July 17). That total represents just a -3.7% […]
Medtronic acquires Medicrea and its spinal surgery tech
Medtronic (NYSE:MDT) today said it acquired France-based spinal surgery technology company Medicrea. Through the deal, Medtronic is buying for a tender offer price of €7.00 (nearly $7.84) per share for a premium of 22% over the closing price of shares on July 14, 33% over the one-month value-weighted average price and 56% over the three-month volume-weighted […]
Medicrea wins FDA clearance for patient-matched spinal interbody cages
Medicrea (EPA:ALMED) announced today that it won FDA clearance for its UNiD IB3D patient-matched interbody cages to complete its UNiD adaptive spine intelligence (ASI) platform technology. The UNiD IB3D interbody cages are 3D-printed titanium implants designed to customize cage dimensions, features and endplate morphology. Medicrea touts this level of customization as the first of its kind […]
Medicrea looking for a buyer
Medicrea (EPA:ALMED) announced that it is engaged in active discussions with potential strategic partners in the U.S. spine industry as it seeks to execute an agreement resulting in a company takeover, partnerships or distribution agreements. The company said that leading U.S. groups have made regular approaches to share industry developments and review potential strategic partnerships around […]
Medicrea lands 7 new patents
Medicrea (EPA:ALMED) announced that the U.S. Patent Office recently issued the artificial intelligence spinal surgery developer seven new patents related to its UNiD adaptive spine intelligence (ASI) technology platform. The UNiD ASI is designed to use artificial intelligence to enhance clinical and surgical workflow, increase reproducibility, improve surgical outcomes and expand the potential for surgeons. The […]
Medicrea closes $30m senior secured notes offering
Medicrea (EPA:ALMED) said today it closed a $30 million offering of senior secured notes. In the offering, the company floated $30 million in senior secured and guaranteed notes to investment firm Perceptive Advisors, with notes slated to be issued today and mature on the same day in 2022, the France-based company said. “We are excited about […]
Medicrea to list on OTC exchange
Medicrea (EPA:ALMED) said today it is listing on the OTC exchange and will begin trading on the OTCQX Best Market under the tickers “MRNTY” and “MRNTF” starting tomorrow. The France-based company said it will list under two separate tickers representing its American Depository Receipts under “MRNTY” and its ordinary shares under “MRNTF.” Each ADR represents one […]
Medicrea inks Belgian JV deal with Motion Medical
Medicrea (EPA:ALMED) said today it inked a joint-venture deal with Belgian distributor Motion Medical looking to accelerate adoption of its products in Belgium. France-based Medicrea will hold a 51% majority stake in the newly formed Medicrea Belgium with plans to transition the JV into a fully-owned Medicrea subsidiary over the coming years. The newly founded subsidiary […]