In seven U.S. states with a strong medtech presence — as previously identified by MD+DI as medtech hubs — four were called for Democratic Presidential Candidate Joe Biden. Biden won in California, Masachusetts, Minnesota, and Washington. President Donald Trump won in Texas, Indiana, and Florida.
Stryker is expected to close its acquisition of Wright Medical on Tuesday, now that the Federal Trade Commission has given the go-ahead. In order to get FTC’s blessing for the deal, both companies agreed to divest all assets related to finger joint implants and STAR total ankle replacements. The companies have agreed to sell assets to DJO Global. Stryker's $4 billion bid for Wright, announced last November, is one of the largest holdover deals from 2019 that had to clear regulatory hurdles.
FDA approved Boston Scientific's Ranger Drug-Coated Balloon to treat patients with peripheral artery disease in the superficial femoral artery (SFA) and proximal popliteal artery. The approval comes nearly six years after the company obtained a CE mark for the same device. FDA approval was based on results from the RANGER II SFA pivotal trial, which evaluated the safety and effectiveness of the Ranger balloon to standard percutaneous transluminal angioplasty for that patient population.
And in case you missed last week's Medtech in a Minute ...
LivaNova has been under pressure from PrimeStone Capital, an activist investo that wants to see big changes at the company, including a new CFO. PrimeStone can now cross that item off its wish list, as CFO Thad Huston has resigned. PrimeStone's recent interest in the company prompted a medtech analyst at Needham & Co. to conduct a sum-of-the-parts analysis of LivaNova, concluding that the sum of LivaNova's parts may be more valuable than the whole. Analyst Mike Matson said he believes the company could began to engage in portfolio management in the form of divestitures or spin-offs in an attempt to unlock shareholder value. He also estimates that the neuromodulation business at LivaNova is the company's primary source of value, and that its neuromodulation pipeline could be a source of meaningful upside over the next few years.
Medtronic has acquired Ai Biomed, marking the company's seventh acquisition announced in 2020. The deal gives Medtronic access to the PTeye system, a probe-based technology designed to help confirm parathyroid tissue identified visually by the physician during thyroid surgery.