The FDA today designated a Medtronic recall of Duet external drainage and monitoring system catheter tubing as Class I, its most serious level. Medtronic Neurosurgery initiated the recall on Jan. 22. According to the FDA, it involves 45,176 devices distributed from May 3, 2021, to Jan. 9, 2024. The model numbers involved are 46913, 46914, […]
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Medtronic may face jury trial in spine implants case
A nearly decade-old whistleblower suit against Medtronic — involving FDA clearance of spine fusion devices — is moving forward. In an order dated Feb. 16, U.S. District Court Judge John Kronstadt in Central California denied Medtronic’s motion for summary judgment in the case filed by The Dan Abrams Co. LLC. The LLC’s sole employee, Bryan […]
Medtronic wins FDA clearance for bone tumor ablation tech
Medtronic announced today that it received FDA 510(k) clearance for its OsteoCool 2.0 bone tumor ablation system. The medtech giant designed OsteoCool 2.0 to treat painful bone metastases and benign bone tumors like osteoid osteoma. The minimally invasive procedure uses probes to deliver radiofrequency energy that heats and destroys tumors. Meanwhile, it circulates water to […]
Medtronic asks ITC to stop Axonics’ sales of neuromod devices
Medtronic today announced that it filed a complaint to the U.S. International Trade Commission (ITC) to block the sales of certain Axonics (Nasdaq:AXNX) devices. The complaint to the ITC runs parallel to action in the U.S. District Court for the District of Delaware. Medtronic wants to block Axonics from “improperly importing and selling products that infringe […]
These diabetes devices are set to launch in 2024
The diabetes space continues to innovate, and it doesn’t look like that’s stopping any time soon, with 2024 set to be another banner year. At the end of 2023, we compiled a list of the 10 biggest diabetes technology stories of the year. Some of those stories didn’t end in 2023, though, as a few […]
Former Mazor VP convicted of insider trading
A federal jury in Minnesota has convicted a former Mazor Robotics VP of insider trading and securities fraud around Medtronic’s $1.6 billion acquisition announcement in 2018. Ron Tavlin was Mazor’s VP of business development from 2017 to 2019. Before that, he’d been a paid consultant for Medtronic. On Feb. 16, a jury found him guilty on […]
A Medtronic EVP is leaving amid latest reorganization
Bob White, the EVP and president of Medtronic’s Medical Surgical portfolio, is leaving the company in a new round of reorganization. Medtronic CEO Geoff Martha announced that White was leaving at the end of the company’s Q3 earnings call this morning. “He’s been such an impactful and important leader for the company for a long […]
Former Medtronic President Thomas Holloran passes away
Thomas Holloran — an executive from Medtronic’s earliest days who served on the medtech giant’s board for decades — has died at the age of 94. Holloran passed away on the evening of Feb. 15, the Star Tribune of Minneapolis reported. A biography on the website of the University of St. Thomas — where Holloran […]
Medtronic is exiting the ventilator market
Medtronic announced today that it will exit what it describes as its increasingly unprofitable ventilator product line. The move comes more than a year after Medtronic said it would spin off its Patient Monitoring and Respiratory Interventions businesses, part of its Medical Surgical portfolio. Reports last year claimed that other medtech companies, including GE HealthCare […]
How GLP-1s tanked and reshaped the medtech stock market in 2023
Analysts weigh in on how the GLP-1 craze caused one of the biggest swings in the medtech stock market in recent years.
In a tumultuous year for the medtech industry, the combination of strong sales growth and promising clinical trial results from glucagon-like peptide 1 agonists (GLP-1s) created a seismic shift in the medtech stock market, triggering one of the largest dips in market value that analysts have seen in years. While analysts said the medtech stock market […]
Medtronic names first chief sustainability officer
A Medtronic executive shared on social media that the company named a chief sustainability officer. Raman Venkatesh will join the medtech giant as VP and CSO — a newly created role — starting on Feb. 19. Ken Washington, Medtronic SVP and chief technology and innovation officer, announced the appointment on LinkedIn. In the role, Venkatesh […]