Medtech in a Minute: The Industry Loses a Legend, and More

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Quickly catch up on the latest medtech news from Boston Scientific, Abbott Laboratories, Xact, and more.

Medtech Loses a Giant; Boston Sci Co-founder Dies

Peter Nicholas, a co-founder of Boston Scientific, passed away at the age of 80.

Abbott Heart Valve Data Shines at EuroPCR

The data support the use of the company's TriClip tricuspid heart valve repair device, and Navitor, Abbott's transcatheter aortic valve implantation system.

XACT Is Changing the Tone of Robotics in Healthcare

The Hingham, MA-based company recently won clearance for its system to support robotic insertion and steering of probes during ablation clinical procedures.

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

 

Medtronic Closes Intersect ENT Deal

Medtronic closed on its $1.1 billion acquisition of Intersect ENT. The closing came a few days after the Federal Trade Commission ordered the Dublin-based company to divest Intersect's Fiagon business within 10 days of the acquisition. Medtronic said that Fiagon was divested simultaneously at the close, and those products ― Cube navigation system and VenSure balloon sinus dilation system ― were not included in the acquisition.

Bioventus Needs Another Way to Pay for CartiHeal

Bioventus still wants to buy CartiHeal, but now the company will have to find a different way to finance the deal, which was announced just a month ago. The company withdrew its offering of senior notes citing current market conditions and is exploring alternative financing options for the $315 million upfront payment to acquire CartiHeal. The deal also calls for an additional payment of about $135 million due upon the achievement of $100 million in trailing 12-month sales.

 

Globus Needs to Rebound in Q2

Globus had a weaker first quarter than investors have seen in the past, but analysts are optimistic for a Q2 rebound. The company began shipping its Excelsius 3D imaging system in May and has successfully completed the first surgeries at several sites. The company threw investors and analysts a curveball a few weeks ago with the news that Dave Demski was stepping down from his post as president and CEO. The board promptly promoted Dan Scavilla to take Demski's place.

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