Top Device Companies

St. Jude Issues Court Challenge To Executive’s Move Rival Medtronic

St. Jude Medical presented documents at the beginning of a Minnesota trial against Medtronic over allegations an executive violated his contract in moving to the other firm. Documents filed in St. Jude’s suit against Joseph McCullough, who was head of the company’s U.S. and international division, say he took with him strategic company plans and development details when he left the company, joining Medtronic two months later. St. Jude contends McCullough’s move should be blocked by a noncompete clause in his contact with the company. Since McCullough did not leave St. Jude until May of this year, the firm believes he was bound by contract not to join rival Medtronic for another year after his resignation.(Click here for more – a subscription may be required)

“St. Jude Says Ex-Executive Violated Pact By Joining Medtronic” – Wall Street Journal (7/27/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Medtronic Wins FDA Panel’s Narrow Recommendation For Approval

Medtronic’s Amplify spine device squeaked through an FDA panel’s review, winning a 6-5 decision for recommending approval. The agency had raised questions earlier about a greater rate of cancer cases among patients treated with the device to stabilize the lower back. The device is designed to treat degenerative disc disease by using two recombinant bone morphogenetic proteins to help form new bone. One of the proteins is used in Medtronic’s already-approved Infuse, but that device and Amplify do not work in the same manner. The advisers’ votes were taken on whether the device’s benefits outweigh its risks. (Click here for more – a subscription may be required)

“FDA Panel Splits On Benefits, Risks Of Medtronic Spine Device” – Wall Street Journal (7/27/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Siemens, GE, Royal Philips See Profits In Selling Imaging Devices To China

Siemens, Royal Philips Electronics and General Electric seek to take advantage of China’s $125 million health care-reform plans. The three device makers are vying to supply CT-scanners to new hospitals and clinics that will need medical devices to provide the universal health care promised by the government over the next three years. Although Chinese companies provide little competition, some of the device makers complain China policy is too protective of local technology, making it difficult for foreign firms to operate. (Click here for more – a subscription may be required)

“CT Scan Makers Gun For China” – Wall Street Journal (U.S.) (7/27/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Covidien Of Ireland Completes Acquisition Of Somanetics Of U.S.

Covidien reports it has completed its acquisition of U.S.-based Somanetics, for an estimated $250 million. The Ireland-based company said it managed to buy, through its Covidien DE subsidiary, all outstanding shares of Somanetics. The deal gives Covidien devices used in cerebral and somatic oximetry, which produced $50 million in sales last year. The purchase is the latest for Covidien, which earlier bought ev3 for $2.6 billion. (Click here for more)

“Covidien Closes $250 Million Tender Offer For Somanetics” – Mass High Tech (7/27/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Hologic To Get September FDA Review For 3-D Mammography Device

Hologic’s 3-D mammography system is set for review by the FDA in September, boosting the company’s hopes for a device it expects to be a big seller. An FDA meeting has been scheduled for Sept. 24 to review the Silenia Dimensions 3-D mammography system that offers a new way to screen for and diagnosis breast cancer. The announced schedule means Hologic could have its device on the market by the end of 2011. The device already is marketed in more than a dozen countries, including those in Europe and in the Middle East. (Click here for more – a subscription may be required)

“FDA Panel Sets Date To Review Hologic’s 3-D Mammography System” – Wall Street Journal (7/27/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Thoratec Sale Of ITC Unit To Danaher Falls When FDA Delays Action

Thoratec has dropped its effort to sell its International Technidyne subsidiary to Danaher. Thoratec said it canceled the deal when it failed to reach agreement with the prospective buyer, Danaher. The division had an asking price of $110 million. The two parties canceled the deal after disputes arose concerning ITC’s quality system and regulatory filings, Thoratec said. Some of the conditions of the sale rested on the FDA approving ITC’s ProTime InRhythm blood test by a certain date the FDA failed to meet. (Click here for more)

"Thoratec Abandons $110 Million Sale Of ITC Unit” – San Francisco Business Times (7/27/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Genzyme Reported A Buyout Target Of France’s Sanofi-Aventis

Genzyme reportedly has been approached by French drug maker Sanofi Aventis with an offer to buy the company. A source familiar with the matter said Genzyme was considering the offer even though it had expressed no interest in selling. Some analysts estimate Genzyme stockholders would ask for $70 to $80 a share. According to some sources, Genzyme, which makes medical devices in addition to biotech drugs, was approached by Sanofi-Aventis two weeks ago with an informal bid. (Click here for more)

“Genzyme Weighs Sanofi Approach: Source” – Reuters (7/26/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Boston Scientific Warns Doctors Of Defects In Three Defibrillator Models

Boston Scientific warned the health-care community that three of its implantable defibrillators may not work properly because of a defect in a magnetic switch. The company said the problem applied to its Contak Renewal 2, Contak Renewal 4 and Vitality HE ICD models produced in 2006, 2007. Boston Sci said 34,000 of the devices are implanted in patients and have a higher rate of switch failure than other debibrillators. Physicians were advised of what to watch for and now to deal with the problem. (Click here for more – a subscription may be required)

“Boston Scientific Issues Advisory On Defibrillators” – Wall Street Journal (7/23/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

St. Jude, Zimmer Weather Hospital-Equipment Cuts When Others Do Not

St. Jude Medical and Zimmer Holdings appear to be weathering the effort by hospitals to cut costs by paying lower prices for medical devices. Both companies indicated in quarterly reports they were well-positioned to survive the current down economy. Their reports were significant in a market that saw rivals Johnson & Johnson and Stryker already hit by lowered orthopedic sales to hospitals. (Click here for more)

“Zimmer, St. Jude Beat Street; Fight Price Pressure” – Reuters (7/22/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Zimmer Of U.S. Seeks Takeover Of China’s Beijing Montagne

Zimmer Holdings, a U.S.-based maker of orthopedic products, plans to acquire Beijing Montagne Medical Device, according to a newspaper report. The acquisition price was put at nearly $52 million. The purchase is believed intended to give Zimmer a greater presence in China for its orthopedic products. Beijing Montagne, a joint venture with a French firm, is a leading supplier of artificial joints in China. (Click here for more)

“Zimmer To Take Over Beijing Montagne To Expand China Market” – China Knowledge (7/22/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!