Federal prosecutors last week drew another guilty plea in an insider trading case based on alleged tips from a Bank of America employee on pending corporate transactions, including Abbott‘s (NYSE:ABT) $25 billion acquisition of St. Jude Medical. In August 2017, U.S. authorities accused seven individuals of reaping more than $5 million in illicit profits based on tips […]
Abbott’s St. Jude Medical must face negligence suit over Riata leads
Abbott (NYSE:ABT) subsidiary St. Jude Medical must face a negligence lawsuit brought over its recalled Riata defibrillator leads after a federal judge ruled that the case is not pre-empted by federal rules. Plaintiff Kristen Bull was implanted with a St. Jude implantable cardioverter defibrillator using Riata leads in November 2010, just a month before the company pulled the […]
Abbott escapes payer’s lawsuit over St. Jude Medical CRM batteries
Abbott (NYSE:ABT) this week escaped a purported class action lawsuit brought by a third-party payer over defective batteries used in subsidiary St. Jude Medical‘s cardiac rhythm management devices. Plaintiff ASEA/AFSCME Local 52 Health Benefits Trust brought the suit last September on behalf of third-party payers, alleging in the U.S. District Court for Northern Illinois that Abbott and St. […]
Abbott’s St. Jude, Biotronik log appeals court win in spat with patent troll
Medical device makers this week won a victory in an ongoing spat with a patent troll. A federal appeals court yesterday upheld a ruling invalidating a patent from holding company Atlas IP which it had asserted against medical device makers Biotronik, Abbott (NYSE:ABT) subsidiary St. Jude Medical and Pacesetter. The US Court of Appeals for the Federal […]
Magistrate judge recommends dismissal of inventor doc’s suit against Abbott’s St. Jude Medical
A federal magistrate judge in Texas last week recommended dismissal for a lawsuit brought by a physician inventor against Abbott (NYSE:ABT) subsidiarySt. Jude Medical over transcatheter valve replacement technology. Dr. Robert Snyder, founder of Snyders Heart Valve, filed suits two years ago in the U.S. District Court for Eastern Texas, claiming that both St. Jude and cross-town rival […]
This medtech CEO led his company to a $200 million buyout
Guiding a company through a merger or an acquisition can test a CEO’s leadership skills. Here’s how NinePoint Medical CEO, Christopher von Jako, led his former medtech company, NeuroTherm, through a deal with St. Jude Medical. When Christopher von Jako assumed the corner office at NeuroTherm in 2013, the company had gone through two other […]
Abbott wins FDA nod for pediatric Masters Series mechanical heart valve
Abbott (NYSE:ABT) subsidiary St. Jude Medical won expanded FDA approval today for its Masters Series mechanical heart valve, now cleared in a 15mm size, which the FDA said is the smallest mechanical heart valve approved in the world. The company’s Masters series mechanical heart valve is a rotatable, bileaflet valve designed for implantation in the aortic or […]
7 medical devices combating the opioid crisis
Opioid-related deaths have become an epidemic in the U.S., garnering attention from the White House, the FDA and many other governmental bodies. From 2000 to 2014, nearly half a million Americans died from drug overdoses. In 2015, more than 50,000 people died from drug overdoses, and 33,000 were opioid-related. Prescription overdoses continue to cause more […]
Mixed migraine results for PFO closure study
Percutaneous closure of patent foramen ovale did not significantly lessen the frequency of migraines in patients with episodic migraines, according to a study published yesterday in the Journal of the American College of Cardiology. Although the Premium trial missed its primary endpoint, the study met the secondary endpoint of reducing migraine days after PFO closure. A […]
Abbott maintains Nanostim halt on docking button issue
Abbott (NYSE:ABT) said this month that it’s maintaining the worldwide halt on implantations of the Nanostim leadless pacemaker made by its St. Jude Medical subsidiary after reports surfaced of problems with the device’s docking button. The 3.6mm docking button is designed to allow the Nanostim device to be retrieved after implantation; it’s meant to connect with the […]
Medtronic, Boston Scientific, St. Jude Medical escape catheter patent suit
A trio of medical device companies yesterday escaped a patent infringement lawsuit filed by the inventor of a catheter after a federal judge in Wisconsin ruled that the case was filed in the wrong jurisdiction. Imran Niazi in April sued Medtronic (NYSE:MDT), Boston Scientific (NYSE:BSX) and Abbott (NYSE:ABT) subsidiary St. Jude Medical in the U.S. District Court […]
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