Stryker (NYSE:SYK) announced today that it extended the offering period of its cash tender offer for all outstanding shares of Wright Medical (NSDQ:WMGI). The company announced its acquisition of Wright Medical in November 2019. Since then, the FTC increased its scrutiny of the proposed merger in January, a Wright Medical shareholder filed a proposed class-action lawsuit to block the acquisition later that […]
Abbott, Tandem seal deal to combine CGM, insulin delivery tech
Abbott (NYSE:ABT) and Tandem Diabetes Care (NSDQ:TNDM) announced today that they have completed their agreement to combine the former’s glucose-sensing technology with the latter’s insulin delivery systems. The deal, announced in October, will combine Abbott’s Freestyle Libre CGM with Tandem’s t:slim X2 pump to monitor glucose without fingersticks. The agreement covers the technical development of device integration and associated […]
MedTech 100 roundup: Markets dip again
Medtech stocks continue to fluctuate amid the COVID-19 pandemic, with a significant dip in the shares belonging to the industry’s biggest names. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 81.88 points at the end of last week (June 26). That total represents a -3.7% decrease […]
FDA approves Medtronic’s latest DBS
Medtronic (NYSE:MDT) said today that it has received FDA approval for the Percept PC deep brain stimulation (DBS) system. The medical device giant is touting Percept PC’s BrainSense technology, which is designed to sense and record brain signals while delivering DBS therapy to people with neurological disorders such as Parkinson’s disease. BrainSense enables more personalized, […]
Lantheus, Progenics complete merger
Lantheus Medical Imaging (NSDQ:LNTH) parent company Lantheus Holdings announced the completion of its merger with Progenics Pharmaceuticals. Progenics, an oncology company developing medicines and artificial intelligence-based technologies for finding, fighting and following cancer, entered into a merger agreement with Lantheus that was first announced on Oct. 2, 2019. Upon the completion of the merger, Progenics stockholders […]
MedTech 100 roundup: Another rebound as markets continue to fluctuate
Medtech stocks rebounded from a significant dip earlier in June last week, continuing to highlight the topsy-turvy nature of the markets during the COVID-19 pandemic. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 85.00 points at the end of last week (June 19). That total represents […]
CryoLife prices $100m offering
CryoLife Inc. (NYSE:CRY) announced today that it priced its previously announced offering of convertible senior notes at $100 million. Yesterday, the Atlanta-based company said it is offering the 4.25% notes, due in 2025, as well as a 13-day option for the initial purchaser to buy up to an additional $15 million in notes, which will be […]
Inspire Medical wins coverage from Cigna
Inspire Medical Systems (NYSE:INSP) has announced that Cigna will provide insurance coverage for the company’s Inspire obstructive sleep apnea therapy beginning this week. Cigna insures approximately 16 million members in the U.S., the minimally invasive sleep apnea treatment developer noted. The addition of Cigna brings the total of insurance policies covering Inspire to 54, representing over […]
CEO Kevin Lobo says Stryker ready to regain lost momentum
Stryker (NYSE:SYK) CEO Kevin Lobo said today that the company is preparing to restart “a number” of idled production lines next month as it climbs out the crater created by COVID-19. In an interview on the DeviceTalks Weekly Podcast, Lobo said the company is rebounding from its low point in April, when its sales fell almost […]
Second Sight Medical schedules auction of its assets
The assets of Second Sight Medical (NSDQ:EYES) are going up for auction on June 25. The developer and manufacturer of implantable visual prosthetics for blind individuals created the only FDA-approved implantable visual prosthetic treatment for severe retinitis pigmentosa. The company said in March that it was winding down its operations amid the financial shock of the COVID-19 pandemic. […]
BioCardia announces $11.5m offering
Heart failure therapy developer BioCardia (OTC:BCDA) announced that it is offering shares of common stock worth $11.5 million. The San Carlos, Calif.-based company is offering nearly 2.9 million shares of its common stock at a $0.001 par value per share. It is also offering an opportunity for certain purchasers whose purchase would otherwise result in it […]
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