Medtech in a Minute: US Authorities Throw the Book at Philips, and More

Video transcripts:

Abbott Faces Serious HeartMate Recall

Abbott is recalling its HeartMate II and HeartMate 3 heart pumps due to the potential for obstruction by a long-term buildup of  biomaterials. The company is asking customers to pay attention to low-flow alarms on the system, which would be the first sign of significant outflow obstruction.

US Authorities Throw the Book at Philips Over Sleep Apnea Recall

A U.S. District Court hit Philips with a consent decree over the company’s ongoing recall impacting millions of sleep apnea machines and other respiratory devices. Now, the company will not be allowed to manufacture or distribute devices from its facilities in Pennsylvania and California until it has completed its remediation plan.

J&J has an appetite for M&A

Johnson & Johnson executives signaled an appetite for more acquisitions, saying that M&A will continue to be a key component of the company’s capital allocation strategy. Earlier this month, J&J announced a $13.1 billion deal to acquire Shockwave Medical, a cardiovascular device company.