The U.S. Food and Drug Administration has issued a safety communication regarding a wide array of intravascular implanted devices and delivery tools that have coatings designed to reduce friction and improve maneuverability.
The feds are once again trying to make life difficult for companies like Ireland's Medtronic that moved their headquarters abroad to gain tax advantages. Medtronic said the latest rule changes won't have a material financial impact on the company.
Medtronic just announced the acquisition of Scotland's Aircraft Medical, a maker of video laryngoscopes to facilitate successful intubation of breathing tubes into the trachea, for $110 million in cash.
Medtronic touted four-year global registry data that's supportive of its Endurant stent graft system for endovascular abdominal aortic aneurysm repair, which it says has global market share of nearly 50%.
Medtronic has launched the first app-based remote monitoring for implantable pacemakers. Remote monitoring of pacemakers has been the standard of care, but this next-gen version goes beyond a dedicated device to do so.
Medtronic and Silicon Valley VC firm Sequoia are launching a $60 million fund to foster med tech startups focused on serving the Chinese market. Accelerator Suzhou-BioBay is also participating in the Medtronic-Sequoia China Healthcare Technology Venture Investment Fund as a strategic partner.
Medtronic's leadless pacemaker performed well in a 725-person clinical trial for FDA approval in the U.S., where the bigwig is racing with St. Jude Medical to become the first to sell such a device.
Functional Neuromodulation, a startup backed by Medtronic and the National Institutes of Health, will advance its deep brain stimulation implant into a Phase III trial to treat Alzheimer's disease patients. DBS is a standard treatment for movement disorders, such as Parkinson's disease, but hasn't been widely applied to other brain disorders.
Boston Scientific is alleging that Edwards' Sapien 3 TAVR infringes its patents related to adaptive sealing technology in an intellectual-property lawsuit filed against the competitor in Germany.
Cue the Medtronic-Covidien layoffs. Medtronic is cutting 150 jobs in Ireland, months after closing its megadeal with Covidien and shifting its domicile to the country to enjoy the benefits of a lower tax rate.