The medical device industry marched on this week — with a major multibillion-dollar M&A deal closing even as worries mount over the COVID-19 pandemic, global recession, and the aftermath of the U.S. presidential election.
That was a big takeaway from this week’s top news on MassDevice.
Want to hear more about the week’s top news? Executive editor Chris Newmarker and Tom Salemi will discuss the week’s “Newmarker’s Newsmakers” — as well as fictional monsters that come out of the ocean — during our DeviceTalks Weekly podcast.
Without further ado, here’s this week’s MassDevice Top Five:
5. EU MDR deadline is looming
The EU Medical Device Regulation (MDR) will replace the current EU Medical Device Directive (MDD) on May 26, 2021. It’s a deadline already extended amid the pandemic. Managing editor Nancy Crotti looks at how medical device companies are preparing for a major regulatory shift in an important market. Read the full story.
4. Abbott launches RF pain treatment device
Abbott (NYSE:ABT) has launched its IonicRF generator for non-surgical treatment for nervous system pain management. The recently FDA-cleared device is designed for minimally invasive treatment through radiofrequency ablation, using heat to target specific nerves and block pain signals from reaching the brain. Read the full story.
3. Some nursing homes reportedly refuse to use COVID-19 rapid antigen tests
The Wall Street Journal reports that a federal survey of nursing homes found that 30% of 13,150 facilities that had rapid testing equipment for at least two weeks did not use it to test a single resident or staff member, even when regulations from CMS required them to do so. Read the full story.
2. Joe Biden’s plan for COVID-19 and how the industry is reacting
“We want the administration to look at how successful changes to the regulatory and reimbursement processes have been. We don’t want to go back,” said Medical Alley Association CEO Shaye Mandle. Read the full story.
1. Stryker closes Wright Medical buy, sells some businesses to DJO
Stryker (NYSE:SYK) has closed its $4.7 billion purchase of Wright Medical (NSDQ:WMGI) and sold some of its arthroplasty systems to DJO. Read the full story.
