The executor of the will of a New Jersey man who died of a night-time diabetes attack is suing Medtronic for the alleged failure of its MiniMed insulin pump and infusion set.
St. Jude Medical took the opportunity on its April 22 earnings call to flesh out the logic and expectations behind its purchase of Spinal Modulation for a total of at least $215 million (plus undisclosed approval and revenue milestones) that was revealed earlier this week. Neuromodulation is one of its three pillars for achieving 4% to 5% revenue growth this year--and the company anticipates that in 2016 neuromodulation will be even stronger.
European patients using certain models of Medtronic's Activa line of Deep Brain Stimulation Therapy neurostimulators can receive a full-body MRI scan while continuing to receive therapy, the company announced.
IBM increased its presence in the device world in a major way, announcing a collaboration around famous supercomputer Watson with Medtronic, Johnson & Johnson and Apple.
Medtronic has officially joined the European leadless pacemaker market thanks to the CE-mark approval of its Micra Transcatheter Pacing System. It is one-tenth the size of conventional pacemakers, making it the world's smallest device in the overall category.
Ortho Kinematics will use the $9.6 million it has raised to support its mission to make its Vertebral Motion Analysis test the standard of care to assess spinal motion and instability. The financing is the lion's share of a total of $10.7 million the company expects to raise.
Medtronic announced the U.S. launch of its HawkOne directional atherectomy system, for surgical treatment of peripheral artery disease, or blocked and calcified arteries in the arms or legs. The device was obtained via Medtronic's $50 billion acquisition of Covidien.
A strategic device company, a former Medtronic president and an award-winning Stanford doctor are among the financiers of Silicon Valley's EBR Systems' attempt to commercialize the first leadless pacemaker implanted in the heart's left ventricle. Along with VCs like Split Rock Partners and SV Life Sciences, the group contributed $20 million toward the groundbreaking effort.
Spinal specialist Benvenue Medical is taking on Medtronic. The smaller company boasted of clinical trial results showing that its FDA-cleared Kiva VCF System to treat vertebral compression fractures performs as well as or better than the industry bigwig's KyphX System.
Medtronic agreed to pay $4.4 million to settle a Department of Justice lawsuit claiming that the company mislabeled imported devices as made in the USA so that it could sell them to the U.S. military.