A federal judge in Colorado dismissed an anti-trust lawsuit filed against Medtronic (NYSE:MDT) by bone mill maker Lenox MacLaren Surgical, ruling that Lenox failed to name the correct Medtronic subsidiary in the suit. Louisville, Colo.-based Lenox MacLaren 1st inked a distribution deal with Medtronic subsidiary Medtronic Sofamor Danek USA in 2000, hoping the pact would provide the scale to […]
Medtronic
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, […]
Report: TMVR at least 4 years from U.S. market
Transcatheter mitral valve replacements are at least 4 years out from hitting the U.S. market, despite the $2 billion recently dropped on companies developing the technology by some of the top names in medtech. Medtronic (NYSE:MDT), Abbott (NYSE:ABT), Edwards Lifesciences (NYSE:EW) and HeartWare International (NSDQ:HTWR) in recent months have spent a total of $2 billion to buy […]
Medtronic’s Q2 earnings beat estimates
Medtronic‘s (NYSE:MDT) fiscal 2nd-quarter earnings beat expectations as revenues met estimates, prompting the medical device leviathan to raise the low end of its profit forecast. Fridley, Minn.-based Medtronic posted profits of $520 million, or $1 per share, on sales of $7.06 billion for the 3 months ended Oct. 30. Compared with the same quarter last year, before […]
Diabetes: Medtronic taps Schein as exclusive U.S. distributor
Medtronic (NYSE:MDT) said today that it tapped Henry Schein (NSDQ:HSIC) to be its exclusive distributor for some Type II diabetes products in the U.S. Fridley, Minn.-based Medtronic said the Henry Schein Medical business will distribute the products to primary care physicians here, including its iPro2 Professional continuous glucose monitor and the i-Port Advance injection port. “Medtronic is committed […]
FDA: Class II recall for Medtronic’s InSync III pacemakers
A battery longevity issue prompted Medtronic this month warn doctors about some 96,787 of its InSync III pacemakers, an action the FDA labeled a Class II recall, although Medtronic said only about 22,000 of the devices are still active. The Fridley, Minn.-based medical device titan sent a letter to physicians dated November 2015, warning that a high […]
Danaher lures ex-Medtronic legal eagle Ellis for GC spot | Personnel Moves
Danaher (NYSE:DHR) said it lured Brian Ellis from Medtronic (NYSE:MDT) to be its new general counsel, replacing Jonathan Graham, who jumpoed ship for Amgen (NSDQ:AMGN) last May. Ellis was general counsel for Medtronic’s restorative therapies group, after stints as GC and chief compliance officer for monitoring solutions at GE Healthcare (NYSE:GE) “Brian brings a wealth of experience leading and […]
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 […]
Diabetes: Medtronic launches ‘Pattern Snapshot’ for iPro2 CGM
Medtronic (NYSE:MDT) said today that it launched a new “Pattern Snapshot” report for its iPro2 Professional continuous glucose monitor that’s designed to give healthcare providers a 1-page overview of a patient’s glucose data trends. The Pattern Snapshot report, part of Fridley, Minn.-based Medtronic’s CareLink iPro diabetes management software, is designed to identify the top 3 patterns […]
Mirowsky fights $6m legal tab in Medtronic spat
Mirowski Family Ventures, on the hook for a $6 million tab for Medtronic‘s (NYSE:MDT) legal costs, told a federal appeals court last week that a lower court misconstrued a 24-year-old deal with Eli Lilly (NYSE:LLY). The long-running case involves patents licensed to Boston Scientific (NYSE:BSX). MFV represents the estate of Dr. Michel Mirowski, who helped invent the implantable defibrillator. The group, which controls several patents related […]
Medtronic wins FDA panel date for DIAM spine stabilization system
Medtronic (NYSE:MDT) won a date with an FDA advisory panel for its DIAM spinal stabilization system. The federal safety watchdog’s Orthopaedic & Rehabilitation Devices panel is slated to meet Feb. 19, 2016, to consider the pre-market approval application for the DIAM system, the FDA said today. DIAM stands for “device for intervertebral assisted motion.” The DIAM system is designed […]