Medtronic is rolling out its upgraded, Bluetooth-enabled wearable device, the Verify Evaluation System. It's for the selection of patients who will benefit from the company's neuromodulation implant to treat chronic overactive bladder or bowel incontinence.
Now-Ireland's Medtronic said in a filing with the SEC that it is paying $500 million in U.S. income taxes on $9.8 billion in cash and investments that it is moving to the country from overseas subsidiaries. The move sets the stage for more M&A activity. After all, the U.S. is the capital of med tech innovation (if not manufacturing).
Medtronic just launched a smartphone app enabling diabetes patients on its MiniMed continuous glucose monitor to view critical data remotely via their smartphone.
Medtronic will buy stent retriever cover maker Lazarus Effect for $100 million in cash. The medical device giant expects to use the startup's novel nitinol mesh cover product, the Lazarus Cover, in conjunction with its own Solitaire stent retriever platform. Earlier this month, Medtronic rolled out a more effective catheter delivery system for Solitaire.
Veran Medical Technologies has won $30.6 million in venture financing to back its early lung cancer diagnostic and therapeutic device. The news comes just as industry giant Medtronic has launched a post-market, observational trial of its own early lung cancer diagnostic system.
Medtronic launched the Arc support catheter, enabling faster delivery of the Solitaire Stent retriever to treat ischemic stroke patients by physically removing the clot and restoring blood flow in the brain's arteries.
Medtronic snagged a grant from the Israeli government to launch a digital medicine incubator in the country, expanding its international footprint and joining other tech companies to nurture promising startups in the field.
Global venture capital firm New Enterprise Associates has hired Dr. Stephen Oesterle as one of its partners from Medtronic, where he was executive vice president.
Medtronic CEO Omar Ishrak said the company is on track to meet its goal of achieving $300 million to to $350 million in saves from its acquisition of Covidien, during the company's Q1 FY 2016 earnings call.
Novocure has filed for an IPO to raise up to $300 million on the strength of a potential FDA approval for its Optune device in combination with chemotherapy for patients with newly diagnosed glioblastoma.