Stryker (NYSE:SYK) is closing New York operations of subsidiary Gaymar Industries by the end of 2012, leaving 160 out of work in an effort to cut costs ahead of the medical device tax.
Stryker
Med-tech stocks rebound after Medicare jolt | Wall Street Beat
Wall Street investors rebounded from the jolt delivered by the Centers for Medicare & Medicaid Services last week, regaining most of the value lost after the agency announced stiffer rules for its coverage of some medical procedures.
The new pre-reimbursement review program will ask doctors to provide up-front justification for certain medical equipment and types of claims. Set to launch in 11 states next month, it will flip the reimbursement system from the agency’s existing “pay-and-chase” method of looking for improper payments after they’ve already been made.
Med-tech stocks rebound after Medicare jolt
Wall Street investors rebounded from the jolt delivered by the Centers for Medicare & Medicaid Services last week, regaining most of the value lost after the agency announced stiffer rules for its coverage of some medical procedures.
The new pre-reimbursement review program will ask doctors to provide up-front justification for certain medical equipment and types of claims. Set to launch in 11 states next month, it will flip the reimbursement system from the agency’s existing “pay-and-chase” method of looking for improper payments after they’ve already been made.
Abiomed hits 52-week high | Wall Street Beat
Abiomed (NSDQ:ABMD) shares hit $20.25 apiece yesterday, their highest mark in 52 weeks, as the company touted more positive study results for its flagship Impella heart pump.
ABMD shares closed yesterday at $20.14, up 6.2 percent on a day of widespread gains on Wall Street. The Dow Jones Industrial Average gained 4.2 percent yesterday, the S&P 500 closed up 4.3 percent and the Dow Jones medical device index rose 4.8 percent.
MassDevice.com +7 | Strkyer launches lawsuits, Zimmers acquires Xtrafix, Fresenius sues supplier, FDA seeks reclass comments, Over-stenting doc, MDT vs. ABT, GOP grills Shuren
Say hello to MassDevice +7, a bite-sized view of the top seven med-tech stories of the week. This latest feature of MassDevice.com’s coverage highlights our seven biggest and most influential stories from the week’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else this weekend, make sure you’re still in the know with MassDevice +7.
Accuray to cut workforce by 5%
Stryker launches lawsuits, Olympus shares rise on abated de-listing threat, Over-stenting doc gets 8 years in jail | MassDevice.com +3
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This latest feature of MassDevice.com’s coverage highlights our three biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.
Zimmer’s battles, St. Jude fighting Access Closure, patient tracking, Becton Dickinson’s buyout potential, Stryker’s massive layoffs, two decades of Olympus’ loss concealment and Sapien’s spiked clinical trial made headlines this week | MassDevice.com +7
Say hello to MassDevice +7, a bite-sized view of the top seven med-tech stories of the week. This latest feature of MassDevice.com’s coverage highlights our seven biggest and most influential stories from the week’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else this weekend, make sure you’re still in the know with MassDevice +7.
Stryker to lay off 5%, Docs with MDT ties refuse to report conflicts, FDA’s new draft guidances | MassDevice.com +3
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This latest feature of MassDevice.com’s coverage highlights our three biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.
Stryker sues rivals over hip implant patent
Stryker plans to lay off 5% of its workforce ahead of the med-tech tax
Stryker Corp. (NYSE:SYK) officials said the company plans to cut 5 percent of its workforce over concerns about the impending 2.3 percent medical device tax prescribed by President Barack Obama’s health care overhaul.
The Kalamazoo, Mich.-based orthopedic device giant expects layoffs and restructuring efforts to reduce costs by more than $100 million before the tax takes effect in 2013.