Medtech in a Minute: Medtronic Layoffs, and More

Medtronic Gets the Axe Out

Medtronic confirmed last week that it will be chopping off some of its global headcount, stopping short of citing how many employees will be impacted by the layoffs. The measure follows Medtronic's early retirement incentives announced last month.

Boston Scientific Rumor Sends 'Shockwave' Through the Cardiovascular Market

Rumor has it that Boston Scientific wants to buy Shockwave Medical in what would be the company's largest deal since the $27 billion acquisition of Guidant. Medtech analysts suspect that such a merger could carry antitrust risk, given Boston Scientific’s portfolio of existing rotational atherectomy systems.

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

Elizabeth Holmes Will Do Time for Her Crime

Judge Edward Davilia denied Elizabeth Holmes' request to stay out of prison pending her appeal. Holmes will now have to begin her sentence of 11 years and three months on April 27. The former medtech CEO was found guilty on four counts of fraud in January 2022 and was sentenced in November.

Pear Falls from the PDT Tree

The pioneer of the prescription digital therapeutics (PDT) market, has filed for bankruptcy. Pear said it would continue scaled-down operations during the bankruptcy process as it seeks to execute an expedited sale process. But, the company will do so without CEO Corey McCann, who was part of yet another reduction in force. "This is certainly not the outcome I envisioned when I founded Pear in 2013," McCann wrote in a LinkedIn post.