Medtech in a Minute: The End of an Era for Edwards Lifesciences, and More

A Long-Serving Medtech CEO Announces Retirement

After more than two decades at the helm of Edwards Lifesciences, CEO Michael Mussallem will retire in May 2023. Mussallem has served as the company's CEO since it spun off from Baxter and became a publicly traded company in 2000. Last week, MD+DI recalled the Most Memorable Moments for Edwards Lifesciences Under Mussalllem.

Not So Sunny in San Jose Last Week for Balwani

Ramesh "Sunny" Balwani has been sentenced to 12.9 years in prison and three years on probation for his role in the Theranos fraud. The former Theranos executive is expected to surrender to prison on March 15. The amount of restitution he will have to pay will be determined in a separate hearing. Meanwhile, Elizabeth Holmes has asked to stay out of prison pending an appeal of her conviction and 11.25-year sentence. Holmes confirmed last week night via a legal filing that she is pregnant with her second child. Legal experts say Holmes' appeal process could take years.

Apple Scores a Juicy Victory Over AliveCor

A U.S. Patent and Trademark Office tribunal issued out a ruling that noted three patents owned by AliveCor were invalid. The ruling helps bolster Apple's defense in a potential import ban on the Apple Watch in a separate but related dispute.

Its 'Better Late Than Never' for Dexcom G7

After multiple delays, FDA has cleared the Dexcom G7 continuous glucose monitoring device. The much-anticipated regulatory milestone comes nine months after the same device won a CE mark for marketing in the European Union.

And in case you missed our last Medtech in a Minute report...

Layoffs Abound in Medtech (and Beyond)

Medtech has not been immune from the macroeconomic headwinds that have forced some companies into a difficult corner, resulting in mass layoffs. Last week, Illumina said it would trim its global workforce by 5% “to realign its operating expenses. Illumina employs about 9,200 workers worldwide — 5,650 full-time employees in the Americas, 2,240 in Asia, and 1,250 in Europe. Pear Therapeutics a prescription digital therapeutics company, also announced its second round of layoffs. Pear said  would cut about 22% of its staff — impacting 59 employees. This round of layoffs comes just four months after Pear's previous round of layoffs, announced in July. At the time the company said it would lay off 9% of its staff, or 25 employees.

Insulet Has a Problem with Omnipod 5 Controller

Insulet has received reports that heat generated by a poor connection between the Omnipod 5 cable and port has caused them to melt, deform, or discolor. The Omnipod 5 tubeless automated insulin delivery system is integrated with a continuous glucose monitor to manage blood sugar with no multiple daily injections, zero fingersticks, and is fully controlled by a compatible personal smartphone. Insulet launched the Omnipod 5 system in early August, after gaining FDA clearance in January and executing a limited launch of the system.