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 […]
stjudemedical
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 […]
Investors seek class action status in lawsuit over St. Jude implantable defib batteries
Abbott (NYSE:ABT) is facing an investor suit from an Alaskan union-benefits fund over allegations that St. Jude Medical, which it closed its acquisition of in January, failed to notify regulators about defective lithium batteries in its implantable defibrillators. In the lawsuit, plaintiffs allege that St. Jude was informed of the battery defect “as early as 2011”, […]
Ex-broker pleads not guilty in insider trading case involving Abbott, St. Jude merger
A Morgan Stanley broker pleaded not guilty to charges that he engaged in insider trading in deals including Abbott‘s (NYSE:ABT) $25 billion acquisition of St. Jude Medical, according to an Investment News report. Defendant Michael Siva entered a plea on Tuesday in New York, with a 3-week trial slated to begin Sept. 2018. Siva was allegedly involved […]
Abbott upgrades St. Jude Medical cardiac devices
Abbott (NYSE:ABT) said today that it’s upgrading the implantable pacemakers and defibrillators it acquired when it paid $25 billion for St. Jude Medical earlier this year, seeking to move beyond battery and cybersecurity issues that haver plagued it for a year. Last October St. Jude warned of a battery issue that could disable its high-voltage cardiac rhythm management devices, […]
Abbott’s St. Jude Medical can’t escape Riata lead lawsuit
Abbott (NYSE:ABT) subsidiary St. Jude Medical can’t escape a product liability lawsuit brought over its recalled Riata defibrillator leads, a federal judge in California ruled this week. St. Jude pulled the silicone-coated Riata and Riata ST leads in 2010 after finding that some of the internal conductors had worn through their insulation, a failure that […]
Alleged $5m insider trading ring included Abbott, St. Jude Medical acquisition
US authorities yesterday announced a slew of insider trading charges accusing 7 individuals of creating more than $5 million in profit based on tips from a Bank of America employee on pending corporate transactions, including Abbott‘s (NYSE:ABT) $25 billion acquisition of St. Jude Medical. Both the alleged tipper, Daniel Rivas, and James Moodhe, father of […]
Zimmer Biomet prez, CEO Dvorak unexpectedly resigns | Personnel Moves, July 12, 2017
Zimmer Biomet (NYSE:ZBH) said late yesterday its prez and CEO David Dvorak has resigned from his position at the head of the company, effective immediately, to be replaced on an interim basis by senior VP and CFO Daniel Florin until a permanent successor is named. The Warsaw, Ind.-based company said it is retaining “a leading executive search […]
Medical device makers look to slip lawsuits on Supreme Court ruling
A trio of medical device makers are looking to slip patent infringement and product liability lawsuits based on recent U.S. Supreme Court rulings governing out-of-state lawsuits. In TC Heartland v. Kraft Foods Group Brands, the Supremes limited the ability of patent holders to sue in other states. Kraft sued TC Heartland in its incorporated state of Delaware […]
Medtech M&A: The 10 biggest deals so far in 2017
Hologic closes its $1.7 billion Cynosure buy In March, Hologic (NSDQ:HOLX) closed its $1.65 billion acquisition of Cynosure Inc. (NSDQ:CYNO) and its portfolio of medical aesthetic products and devices. Marlborough, Mass.-based Hologic paid $66 per share for a total of 17 million shares of Class A stock, representing approximately 70.6% of the company’s outstanding shares. “We are pleased […]