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.
3. BSX gets court support
A federal appeals court disappointed a group of Boston Scientific Corp. (NYSE:BSX) shareholders hoping to recoup losses stemming from a recall of the Taxus Express drug-eluting stent, upholding a lower court decision to dismiss a securities fraud lawsuit.
2. KCI merger: A hard and fast courtship
Details emerge from the $6.3 billion buyout of Kinetic Concepts Inc. (NYSE:KCI) by a private equity firm and two Canadian pension funds, revealing three months of intense negotiation and no real alternatives.
1. Zoll flies too close to the sun
After shares skyrocketed on a late July earnings preview that foresaw a huge leap in share price, Zoll Medical Corp. (NSDQ:ZOLL) sank back down to earth today on a risk evaluation in its 10-Q that noted a possible restriction on Medicare reimbursement for its flagship LifeVest wearable defibrillator.
After peaking at $69.66 at close on July 29, shares are down 27 percent to $44.58 midday today, inching toward its 52-week low of $42.22.