Top Device Companies

3M Sues Andover Healthcare For Device Too Similar To 3M’s

3M brought suit against Andover Healthcare in federal court to stop the company from producing a compression therapy system that looks too much like 3M’s. The suit also alleges false advertising and unfair business practices in Andover’s marketing of a device with look-alike packaging, instructions and other features. The product at issue is Andover’s CoFlex 2 system, which competes with 3M’s Coban 2 Layer Compression System for treating hypertension and vein ulcers. (Click here for more)

“3M Suing Andover Healthcare Over Medical Device” – Business Week (AP (4/18/10)

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3M Unveils Electronic Stethoscope That Relays Sounds To Software

3M Health Care and Zargis Medical unveiled an electronic stethoscope that uses Bluetooth technology to send sounds from the body to computer software where it can be analyzed. The 3M Littman Electronic Stethoscope was billed by 3M as a device to enable health-care providers to confirm the diagnoses of clinicians. The device also is expected to make it easier to gather a second opinion on diagnoses. (Click here for more)

“3M Releases Stethoscope With Bluetooth Capability” – Minneapolis St. Paul Business Journal (8/19/09)

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BD, 3M, Thermo Fisher, Other Rapid Flu Tests Said Wrong Half The Time

Becton Dickinson, 3M Company, Thermo Fisher Scientific and other makers of rapid tests to detect the H1N1 flu virus are criticized in some medical quarters for making inaccurate tests. An official of Quidel, which calls itself the leading maker of that type of test, with its QuickVue, denied it was inaccurate when used properly. In addition to those three, rapid tests also are made by Meridian Bioscience. Newly published studies and medical testing experts said the rapid tests have more than a 50 percent failure rate in detecting the infections. (Click here for more)

“Quick Tests For The Flu Found Often Inaccurate” – New York Times (8/6/09)

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Medtronics, St. Jude, 3M, Others Buy Ideas From Small Minnetronix

Medtronics, St. Jude Medical and other major medical-device makers may develop and market some products, but they all rely in part on Minnetronix, a medical-engineering company in Minnesota. Minnetronix does not own any of the devices it comes up with, instead allowing Medtronic to patent and develop blood analyzers, and St. Jude, 3M and Possis Medical to own and market other devices after they use Minnetronix’s services. The firm was begun by three 3M engineers who developed a company to outsource new devices to larger companies capable of moving them to market. Minnetronix now counts more than $30 million in revenues. (Click here for more)

“Medical-Device Engineers Do Best Work For Others” – Minneapolis Star Tribune (6/15/09)

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3M Sees Large Increase In Sales Of Face Masks, Respirators In Flu Scare

3M, as a major maker of face masks and respirators, has devices much in demand during the H1N1 foutbreaks, particularly in Mexico. The company said global sales have increased significantly since the announcement of a possible flu pandemic. Some pharmacies report a run on the masks with airports such as the Narita Airport in Tokyo reporting a 30 percent increase in such sales. More close-fitting and costlier respirators also are being purchased even though health experts doubt the effectiveness of either of the devices in preventing someone from being infected with the flu. (Click here for more)

“Face Masks Aren’t A Sure Bet Against Swine Flu” – Los Angeles Times (4/30/09)

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St. Jude, Medtronic, 3M Lead Minnesota Firms In R&D Spending

St. Jude Medical, Medtronic and 3M, all medical-device makers headquartered in Minnesota, continue to be the top three investors in research and development among state companies. Only four of Minnesota’s largest R&D spenders have reduced budgets during the economic downturn, but device makers are increasing theirs. 3M has spent more than the other two, at $1.4 billion, up 2.6 percent from the prior year. Medtronic was second at $1.3 billion, a 6.5 percent increase. (Click here for more)

“Despite Budget Cuts, R&D Spending On The Rise At Many Firms”
– Minneapolis St. Paul Business Journal (5/1/09)

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3M Offers Early Retirement To 11 Percent Of U.S. Employees

3M Company offered early retirement to 3,600 employees, 11 percent of its U.S. workforce of 34,000, in an effort to trim costs at a time it is suffering a double-digit decline in sales. Those who accept the offer are to get an extra year of service added to consideration of their pension benefits. 3M executives had forecast a decline of 15 percent to 18 percent in the first quarter of this year and 5 percent to 9 percent over the course of the year. 3M did not specify whether any of the early retirees are expected to come from its division that makes medical devices. (Click here for more)

“3M Moves To Cut Its Payroll” – Minneapolis Star Tribune (4/9/09)

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