September 16, 2011

1 Min Read
Weekly Vitals: Boston Sci CEO Pick Raises Eyebrows, The Future of the Medical Device Industry, and More

Boston Scientific raised a lot of eyebrows in the medical device industry this week when it announced that Michael Mahoney, current worldwide chairman of the medical device and diagnostics group of Johnson & Johnson (J&J), will assume the role of president in October and CEO in November. In the wake of this news, speculation abounds as to whether or not Mahoney's departure from J&J was amicable. The Wall Street Journal's Health Blog, for instance, wonders, "So, will Mahoney, a veteran device company executive, finally turn Boston Scientific around or will he steer it into the hands of his now-former employer?" Not to be overshadowed in the media,  current Boston Sci CEO Ray Elliott nabbed his own headlines this week when he lashed out at the impending medical device tax at an industry conference. "It's an outrage. It is soaking one of the last remaining industries in this country that pays (higher-than-average wages)," Elliot said, according to the Boston Herald. "We've been very clear: We will have a lot less employees if somebody tags us with a hundred million dollars worth of taxes." Read about these top stories and more in our weekly roundup below:

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