The U.S. Supreme Court today remanded a Medtronic (NYSE:MDT) lawsuit against longtime spinal implant rival NuVasive Inc. (NSDQ:NUVA) to a lower appeals court, after deciding last year that a defendant’s belief regarding patent validity is not a defense to an induced infringement claim. Last July Medtronic asked the U.S. Supreme Court to review the U.S. Court of Appeals for the […]
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Bioventus taps ex-Medtronic CEO Hawkins for chairman | Personnel Moves
Bioventus said it tapped former Medtronic (NYSE:MDT) and Immucor (NSDQ:BLUD) chief Bill Hawkins to be its new chairman, replacing Dan LeMaitre. Hawkins, who’s slated to appear at the upcoming DeviceTalks event in Raleigh, N.C., had the corner office at Medtronic from 2007 until 2011, when he took the helm at Immucor, where is he lead director. […]
HeartWare taps ex-Medtronic exec Oesterle for board | Personnel Moves
HeartWare International (NSDQ:HTWR) is looking to get in on Dr. Stephen Oesterle, an Ex-Medtronic (NYSE:MDT) exec who moved to the venture capital firm New Enterprise Associates last Sept., saying this week that it expanded its board to accommodate Oesterle. Oesterle will officially come aboard on Jan. 18, and his appointment included an expansion to HeartWare’s board […]
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 buys Baylis Medical’s OsteoCool after FDA nod for spine cancer device
Medtronic (NYSE:MDT) said today that it acquired Baylis Medical’s OsteoCool device for treating cancers that metastasize to the spine after the device won 510(k) clearance from the FDA last year. The original OsteoCool device 1st won 510(k) clearance in March 2012. A 2nd version landed another 510(k) in June 2015, and Montreal-based Baylis won a nod last […]
Moody’s: MDT’s $5B buyback ‘credit positive,’ but rating unchanged
Medtronic (NYSE:MDT)’s move to use some of its freed up $9.3 billion to repay debt is “credit positive,” but won’t change the medical giant’s rating or outlook, according to a Moody’s report published yesterday. Fridley, Minn.-based Medtronic said yesterday it has $9.3 billion to spend as a result of the Covidien integration, and plans to use most […]
Supreme Court declines to review Medtronic win in InFuse lawsuit
The U.S. Supreme Court yesterday declined to review a Medtronic (NYSE:MDT) win in a lawsuit alleging off-label promotion of its controversial InFuse bone-growth protein. Patricia Caplinger asked the high court last year to review an April decision by the U.S Court of Appeals for the 10th Circuit that her state-law tort claims are preempted by federal law. Caplinger had argued that her claims […]
Medtronic wins CE Mark for In.Pact Admiral DCB for end-stage renal disease
Medtronic (NYSE:MDT) said today its In.Pact admiral drug eluting balloon won CE Mark approval in the European Union for arteriovenous access to help maintain hemodialysis access in patients with end-stage renal disease. The device is now cleared for preventing restenosis in hemodialysis access sites by opening up the artery and delivering paclitaxel to the vessel wall. […]
UPDATE: Medtronic reveals $9B capital plan
Trading in shares of Medtronic (NYSE:MDT) was temporarily suspended today as the medical device titan revealed its plan for spending a $9.3 billion windfall from its $50 billion acquisition of Covidien, including a $5 billion share buyback by the end of April 2018. Fridley, Minn.-based Medtronic said it has $9.3 billion to spend as a result of […]
BREAKING: Trading halt for Medtronic
Trading in shares of Medtronic (NYSE:MDT) was halted today, according to SeekingAlpha, as the medtech titan reveals how it plans to spend a $9.2 billion windfall from the Covidien acquisition. MassDevice.com has more details on the capital plan here.
Medtronic inks insulin pump deal with China’s Chengdu
Medtronic (NYSE:MDT) said today that it inked a deal with the Chengdu municipal government in China for the manufacture of insulin pumps. The deal calls for Fridley, Minn.-based Medtronic to invest in a plant in Chengdu, about 1,100 miles southwest of Beijing, to make a next-generation, sensor-augmented pump using its SmartGuard technology. The agreement also calls for […]