The Medical Device Business Journal — Medical Device News & Articles | MassDevice
Four medical device startups from a University of Massachusetts incubation program have drummed up $5.1 million from investors.
The companies, MoMelan, TheraTorr, MedicaMetrix and Aura Medsystems, were all supported by the Mass. Medical Device Development Center, also known as M2D2, which operates out of UMass Lowell and UMass Worcester.
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days:
Wright Medical Group Inc. (NSDQ:WMGI), Philips Healthcare (NYSE:PHG) and Carestream Health Inc. won a grant and two contracts from various branches of the federal government worth a collective $22.4 million.
The U.S. Dept. of Defense awarded a $2.4 million grant to Wright Medical for a clinical study of its pellet-based bone graft substitute for combat-related open fracture wounds.
Wright Medical Group Inc. (NSDQ:WMGI) will pay $7.9 million to settle federal charges that it operated a kickbacks scheme to drive sales of its hip and knee implants.
The Arlington, Tenn.-based company said the deferred prosecution agreement with the New Jersey U.S. attorney’s office, in which it does not admit to any of the charges, includes a five-year corporate integrity agreement with the U.S. Dept. of Health & Human Services, according to a press release.
Wright Medical Group, Inc. (NSDQ:WMGI) said stronger international sales in its knee and hip businesses helped the company double its bottom line in the second quarter.
The Arlington, TX-based orthopedic company posted a $4.8 million profit on $127.7 million in sales for the three month period ended June 30, a 97 percent jump from the $2.4 million in net income on $118.9 million in sales for the same period last year.
Stryker Corp. (NYSE:SYK) and Wright Medical Technology Inc. (NSDQ:WMGI) asked a federal judge in New Jersey to dismiss a decade-old patent infringement lawsuit over knee prosthetics.
Wright Medical Group Inc. (NSDQ:WMGI) posted fourth-quarter sales of $129.9 million for the three months ended Dec. 31, 2009, up 8.2 percent compared with $120.1 million during the same period in 2008. Net income was $2.2 million, compared with net losses of $2.7 million during Q4 2008:
