10 Events that Rattled Medtech in 1Q18

  • First Quarter Filled with Deals, Controversy and Approvals

    CEOs facing SEC charges, bold acquisitions, tiny insulin devices, and “unique” procedures were some of the events that made the first quarter of 2018 memorable. 

     

  • Vaginal Rejuvenation Device Lives Up to the Hype

    Lake Forest, CA-based InMode is gaining traction with its Votiva device, a technology that is designed to deliver bipolar radiofrequency energy instead of monopolar radiofrequency energy to help tighten vaginal tissue. MD+DI spoke with an obstetrics and gynecologist specialist in February in Lubbock, TX that has seen amazing results from the device treating conditions such as stress urinary incontinence, post-menopausal vaginal dryness, or sexual dysfunctions. The device is helping to move the procedure beyond being just another Hollywood fad. 

     

  • Johnson & Johnson Receives $2.1B offer for Diabetes Unit

    For years Johnson & Johnson’s diabetes unit has been underperforming fueling speculation that the New Brunswick, N.J.-based company would eventually jettison the business. Well J&J came one step closer to distancing itself from diabetes and revealed it received a $2.1 billion offer from Platinum Equity for the Lifescan unit.

    Silviarita/Pixabay
  • Johnson & Johnson Beefs Up Surgical Robotics Market Offerings

    Johnson & Johnson took a deep dive in the surgical robotics market with its acquisition of Orthotaxy, a privately held developer of software-enabled surgical techniques, including a differentiated robotic-assisted solution. The addition of Orthotaxy allows the company to more effectively compete in the surgical robotics market.

    Geralt/Pixabay
  • Abbott Sees Gains in LVAD Market with HeartMate 3 Data

    Abbott Laboratories unveiled late-breaking clinical trial data from its MOMENTUM 3 clinical study, which shows its HeartMate 3 Left Ventricular Assist Device (LVAD) has improved survival and lowered rates of stroke and pump thrombosis. The strong data, presented at the American College of Cardiology’s 67thAnnual Scientific Sessions, could give the Abbott, Park IL-based company a significant edge in the LVAD market against its rival in the space, Medtronic.

    Courtesy of Abbott
  • Medtronic Answers Abbott's Challenge in Diabetes with Guardian Sensor 3 Approval

    Medtronic and Abbott Laboratories have been in a series of one-upping each other in the diabetes space recently. However, Medtronic threw out a killer punch in late February when it announced it received FDA approval for a new arm indication for the Guardian Sensor 3. The continuous glucose monitoring sensor controls automated insulin delivery via Medtronic’s hybrid closed-loop system, the MiniMed 670G system.

    Medtronic
  • Edwards Adds Bold New Chapter in TAVR Story

    Edwards is considered a pioneer in the transcatheter aortic valve replacement (TAVR)  market. But if you’re first, how do you continue to create interest and stay on top  in the space. The Irvine, CA-based company recaptured interest when it received CE mark for its Centera valve to treat severe, symptomatic aortic stenosis patients at high risk of open-heart surgery. The company said it would start a trial in the U.S. to get approval for Centera sometime this year.

    Edwards Lifesciences
  • A Tale of Two Tiny Insulin Devices and the JDRF

    SFC Fluidics and EOFlow Co. Ltd both caught the attention of the JDRF and received grants from the organization to develop wearable devices for people with Type 1 diabetes. The tiny devices could conceptualize how insulin is delivered to young patients.

    Myriams-Fotos/Pixabay
  • Boston Scientific Employee Found Guilty

    Boston Scientific found itself in the middle of controversy after it was hit with $1 million in fines due to an Italian court finding one of its employees guilty in a criminal case. Those charges arise from allegations that the defendants made improper donations to certain healthcare providers and other employees of the Hospital of Modena in order to induce them to conduct unauthorized clinical trials.

    Activedia/Pixabay
  • FDA Cracks Down on Duodenoscope Manufacturers

    FDA threw the hammer down on all three duodenoscope manufacturers in early March. The company said it issued warning letters to Olmpus, Pentax, and Fujifilm for failing to comply with post-market surveillance requirements to assess the effectiveness of reprocessing the devices.

     

    Geralt/Pixabay
  • Theranos CEO Stripped of Control Based on Fraud Charges

    No other story gripped the medtech industry like Theranos CEO Elizabeth Holmes' fall from grace. The SEC charged the company, Holmes, and former president Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business, and financial performance. As a result, Holmes faced a hefty fine and lost control of Theranos.

     

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