A cardiac physician is taking St. Jude Medical (NYSE:STJ) and Medtronic (NYSE:MDT) to court claiming they copied work from 2 of his patents with their own devices. Dr. Robert Snyder, founder of Snyder Heart Valve, filed suits in the United States Court for the Eastern District of Texas, Sherman Division, claiming that both companies used technology […]
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Outside firm backs up short-seller’s claims against St. Jude Medical
Short-selling firm Muddy Waters said today that outside cybersecurity experts validated its claim that cardiac rhythm management devices made by St. Jude Medical (NYSE:STJ) are vulnerable to malicious hackers. Muddy Waters and research firm MedSec Holdings, which both stand to gain financially from a decline in the price of STJ shares, 1st claimed in August that St. Jude’s […]
Alere shareholders OK $6m Abbott buyout
Alere (NYSE:ALR) said today that its shareholders voted to approve its nearly $6 billion merger with Abbott (NYSE:ABT), despite its onetime suitor’s seeming reluctance to consummate the deal. Abbott agreed in February to spend $56 per share for Alere, or a total of $5.8 billion, but the deal soon turned rocky when the Waltham, Mass.-based diagnostics company […]
Abbott holds steady on St. Jude Medical, Alere buyouts
(Reuters) — Abbott (NYSE:ABT) said today that it’s pushing ahead to complete its planned purchases of medical device maker St. Jude Medical (NYSE:STJ) and diagnostics company Alere (NYSE:ALR) despite lingering questions about product safety and government investigations. CEO Miles White, on a conference call with analysts, said he hoped to acquire St. Jude by the end of the year and […]
Short-seller Muddy Waters floats more videos claiming cybersecurity risks with St. Jude Medical’s cardiac devices
In a release timed to coincide with St. Jude Medical‘s (NYSE:STJ) 3rd-quarter results announcement today, short-selling firm Muddy Waters posted a series of videos purporting to show cybersecurity vulnerabilities in the company’s cardiac rhythm management products. Muddy Waters and research firm MedSec Holdings, which both stand to gain financially from a decline in the price of […]
St. Jude Medical launches pediatric trial for Amplatzer Duct Occluder II AS cardiac implant
St. Jude Medical (NYSE:STJ) said today that it’s launching a pediatric clinical trial of a version of its Amplatzer cardiac implant for treating a congenital heart defect. The 50-patient ADO II AS study is designed to enroll 2 patient cohorts: at least 15 patients weighing 4.4 lbs. (2kg) or less and at least 25 patients weighing more […]
Abbott, St. Jude Medical to deal vascular assets to Terumo for $1B
Abbott (NYSE:ABT) and St. Jude Medical (NYSE:STJ), the subject of a pending, $25 billion acquisition by Abbott, agreed to deal some of their respective vascular assets to Japan’s Terumo Corp. (TYO:4543) for about $1.12 billion. The sale involves St. Jude’s Angio-Seal and Femoseal vascular closure devices and Abbott’s Vado steerable sheath, the companies said today. Abbott […]
St. Jude Medical forms cybersecurity advisory panel
St. Jude Medical (NYSE:STJ) said today that it’s forming a Cybersecurity Medical Advisory Board as it looks to “advance cybersecurity standards in the medical device industry by working with experts and government agencies” after allegations about the security of its own devices was questioned by a short-selling firm. Little Canada, Minn.-based St. Jude said the panel will […]
St. Jude Medical is only the latest medical device maker to face battery issues
The battery depletion issue confronting St. Jude Medical (NYSE:STJ) this week is only the latest such issue to bedevil a medical device maker, as its arch-rivals in the cardiac rhythm management space have issued their own recalls in recent years. St. Jude yesterday warned of the possibility that a battery issue could disable its high-voltage cardiac […]
St. Jude wins FDA nod, launches PressureWire X FFR system
St. Jude Medical (NYSE:STJ) said today that it won 510(k) clearance from the FDA for its PressureWire X guidewire fractional flow reserve measurement system and launched the device in the U.S. The PressureWire guidewire system is designed to measure arterial blood pressure by calculating fractional flow reserve associated with stenosis in patients with coronary artery disease. The next-gen version of the device […]
St. Jude Medical warns on CRM battery depletion issue
St. Jude Medical (NYSE:STJ) today warned of the possibility that a battery issue could disable its high-voltage cardiac rhythm management devices, saying the problem is associated with 2 deaths among the nearly 400,000 patients implanted with affected devices. The news broke last night with a Twitter post by notorious short-selling firm Muddy Waters Consulting containing a copy of the […]