Medtronic (NYSE:MDT) — the world’s largest medical device company — dominated the news on MassDevice this week.
There were also some interesting insights to be had from AdvaMed’s The Virtual MedTech Conference. (Here’s to hoping a COVID-19 vaccine is widespread enough that it can be held in person next year.)
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. Rhaeos and its shunt monitor win MedTech Innovator’s 2020 global competition
Rhaeos (Evanston, Ill.) won the competition and $350,000 grand prize in a virtual live audience vote at The Virtual MedTech Conference, powered by AdvaMed. The 2-year-old company’s wearable, noninvasive Flowsense device monitors ventricular shunt function for hydrocephalus patients — something which has required hospital visits for an MRI or CT scan to determine whether the tubes are properly draining excess spinal fluid from the brain. Read the full story.
4. First patient implanted with Medtronic InterStim Micro
Medtronic announced that the first patient was implanted in the Elite study of its InterStim Micro SNS system. The neurostimulator sends electrical impulses to the sacral nerves in the lower back to improve bladder and bowel control. The therapy offers control of symptoms through direct modulation of nerve activity to normalize communication between the bladder and the brain. Read the full story.
3. Avail grabs $100M to build OR telemed network
Avail Medsystems closed on $100 million for a Series B round to fund the company’s plan to provide free telemedicine equipment that can connect surgeons, interventional specialists and medical device sales reps. Read the full story.
2. Former Medtronic CEO Ishrak to retire from board
Former Medtronic CEO Omar Ishrak is resigning his spot as executive chairman of the company’s board, effective immediately — and will not seek re-election to the company board during Medtronic’s Dec. 11 annual shareholder meeting Ishrak officially handed over the reins of the company to Geoff Martha in April. Read the full story.
1. Medtronic CEO Geoff Martha: ‘I don’t want to go back to normal’
Martha, who spoke during The Virtual Medtech Conference, acknowledged that the pandemic, economic crisis and social unrest have exacted a huge human toll. But he also said companies and the society as a whole have learned a lot. Read the full story.
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