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Teleflex completes Palette Life Sciences acquisition

Teleflex (NYSE: TFX) (NYSE: TFX) + this week completed the previously announced acquisition of Palette Life Sciences.

The Wayne, Pennsylvania-based company first announced the acquisition in July. Under the terms of the agreement, Teleflex bought Palette for an upfront cash payment of $600 million at closing, with additional consideration of up to $50 million upon the achievement of certain commercial milestones.

The acquisition boosts Teleflex’s interventional urology platform which includes its UroLift system. Palette develops a non-animalized stabilized hyaluronic acid (NASHA) spacer and tissue bulking products. The company estimates standalone revenues of approximately $56 million in 2023.

Teleflex said in a news release that it expects to the acquisition to be approximately 25¢ dilutive to adjusted earnings per share. For 2024, the transaction is expected to deliver a high-teems to low 20% revenue grow…

Silk Road Medical CEO announces retirement

[Image courtesy of Silk Road Medical]Silk Road Medical (Nasdaq:SILK) today announced that CEO Erica Rogers plans to retire from the company.

Rogers will formally retire once the succession process is completed. The Sunnyvale, California-based company is working with executive search firm Spencer Stuart to find a replacement CEO.

“I’d like to thank Erica for her tremendous contributions to Silk Road over the last 11 years. Erica has been integral in leading and expanding the company’s strong operational infrastructure and commercial enterprise and driving a significant expansion of the use of Transcarotid Artery Revascularization (TCAR) and its impact on patients. She also has created an enduring, mission-focused culture at Silk Road, setting the Company apart,” Silk Road Chair Jack Lasersohn said in a news release. “The Silk Road Medical senior leadership team and Board of Directors are well-prepared for Erica’s transition. We plan to work closely together to ensu…

Novo Nordisk acquires all shares of drug delivery device maker Biocorp

The Mallya smart insulin pen device pairs with the Novo Nordisk FlexTouch pen. [Image from Biocorp]Novo Nordisk today officially acquired 100% of the shares of Biocorp, the France-based drug delivery device maker’s CEO announced.

Biocorp designs, develops and manufactures drug delivery systems and medical devices. Its offerings include Mallya, a Bluetooth-enabled smart add-on device for pen injectors.

The Mallya smart sensor attaches directly to insulin pen injectors to make them connected devices. It automatically collects and records key treatment information, then transmits the information to a dedicated digital application. That data includes selected insulin units, date and time of injection. The FDA cleared Mallya in December 2022.

Get the full story at our sister site, Drug Delivery Business News.

Fast Five: Haemonetics makes a $253M acquisition to strengthen cardiology portfolio, Boston Scientific to open first factory in China

Welcome to the MassDevice Fast Five medtech news podcast, the show that keeps you up-to-date on the latest breakthroughs in medical technology. Here’s what you need to know for today, October 11, 2023.

Fast Five by MassDevice · Haemonetics makes a $253M acquisition, Boston Scientific to open first factory in China

Hyperfine received FDA 510(k) clearance for its artificial intelligence software for improve image quality on its Swoop portable MRI system. Fast Five host Danielle Kirsh and guest host Jim Hammerand discuss the latest software development and how it updates that MRI system.

Medtronic is warning on some of its previous software on some MiniMed 780G devices in Germany. Find out what the issue is and how patients could be affected.

The FDA wants more testing from Philips in the ongoing recall of its Respironics respiratory devices. Kirsh and Hammerand talk about why the FDA wants more testing from Philips and what Philips plans to do to a…

New DeviceTalks series with MedtechWOMEN indicates a shift in medtech leadership

See more so you can be more in this new DeviceTalks web series.

It’s 2007 and I’m lost in a sea of shoulder-to-shoulder blue and black suits, nearly lifting out of my seat to try and see the stage over row after row of people, all easily a foot taller than me. It was my sixth medical device conference that year, and I was there to learn from the most experienced, most successful, and most influential members of the medical device community.

But I couldn’t see.

It wasn’t just that I couldn’t see the stage. It was what I should have seen but didn’t: me.

Nearly 30 panel sessions into my new career, and I never once saw myself on that stage. Not until Amy Belt Raimundo (then a VP at Advanced Technology Ventures) took center stage — or, more accurately, owned center stage.

Until that moment, I never realized the true weight of the saying, “You can’t be what you can’t see.”

It’s been my personal mission since then to create oppo…

How Medtronic, Zimmer Biomet and Smith+Nephew approach medtech M&A

From left, Geoff Martha, Rachel Ellingson and Deepak Nath spoke on a panel about M&A.

In a year with some massive acquisitions in medtech, there are still questions around an overall drop in M&A activity.

According to Pete Cataldo, managing director and medtech head of Truist, deal volume in the sector fell 65% in the first half of 2023. However, despite high interest rates and a volatile stock market, there appears to remain a market for medtech M&A.

For instance, this year brought the merger of orthopedic giants Globus Medical and Nuvasive and Johnson & Johnson’s $16.6 billion acquisition of Abiomed.

The possibilities for M&A are still there, and some of medtech’s biggest names are taking different approaches.

At AdvaMed’s The MedTech Conference, Cataldo moderated a panel called “Medtech M&A: Trends, Strategies, and Opportunities.” It featured Medtronic CEO Geoff Martha, Zimmer Biomet SVP and…

FDA approves next-gen intrathecal drug delivery system from Medtronic

The SynchroMed III system. [Image courtesy of Medtronic]Medtronic (NYSE:MDT) announced today that the FDA approved its next-generation SynchroMed III intrathecal drug delivery system.

The medtech giant designed SynchroMed III to treat patients with chronic pain, cancer pain and severe spasticity. The targeted drug delivery (TDD) system alleviates symptoms by delivering medication directly to the fluid surrounding the spinal cord.

SynchroMed III builds upon the previous SynchroMed II system, featuring a new “refill only” physician workflow. This enables more efficient programming, while improved electronics feature firmware capable of updates post-implant. Additionally, the system has other protections for patient data through enhanced cybersecurity.

Medtronic said its system also carries forward several mid-generation durable design enhancements from the previous generation.

Get the full story at our sister sit…

Integer promotes new chief financial officer from within

[Image from Diron Smith’s LinkedIn]Integer announced today that it appointed Diron Smith as executive vice president and chief financial officer, effectively immediately.

Smith has more than 30 years of extensive experience in global financial leadership roles at public companies, including Tiffany & Co and GE, and has served as Integer’s interim CFO since May 2023.

“Throughout his time at Integer, Diron has demonstrated the financial expertise and leadership capabilities necessary to lead our Finance organization and drive continuous improvements throughout the company,” Integer President and CEO Joe Dziedzic said in a news release. “His deep manufacturing and supply chain experience, candid nature, collaborative style and consistent pursuit of excellence make him the ideal candidate to help Integer advance our strategy and achieve our growth goals.”

Before becoming Integer’s VP of financial planning and analysis in August 2021, Smith…

Masimo’s LiDCO module wins CE mark for hemodynamic monitoring

[Image courtesy of Masimo]Masimo today announced it received CE mark approval for its LiDCO board-in-cable (BIC) module in hemodynamic monitoring.

The Irvine, California-based company designed LiDCO BIC to connect to multi-patient monitoring platforms, such as the Masimo Root Patient Monitoring and Connectivity Hub. It allows clinicians to easily add LiDCO hemodynamic monitoring with the company’s versatile PulseCO algorithm to its Root patient monitoring hubs.

LiDCO is pressure transducer agnostic and enables hemodynamic monitoring alongside other supported parameters without having a dedicated hemodynamic monitoring box. The module supports everything from powerful guided protocols to assess fluid responsiveness to rich trending data and notifications for beat-by-beat pressure analysis that can be displayed in helpful configurations for each patient, according to Masimo.

“Bringing LiDCO’s beat-to-beat advanced hemodynamic monitoring to Masimo Root o…

FDA clears Hyperfine’s AI software for improved image quality on portable MRI system

Hyperfine this week announced it received FDA 510(k) clearance for its updated AI-powered software with improved image quality for its Swoop portable MRI system.

The latest software development brings artificial intelligence-based image quality enhancements to Swoop’s diffusion-weighted imaging (DWI) sequence. The software enhances the system’s AI denoising capabilities by incorporating advanced image post-processing into the DWI sequence. The improved denoising allows for crisper images that help clinicians accurately diagnose, treat and monitor patients undergoing brain imaging.

Swoop’s other sequences – T1, T2 and FLAIR – previously benefitted from the AI feature.

“We believe in making brain imaging more accessible, clinically relevant, and actionable. We continue to make meaningful progress across all sequences. With this significant and most recent update, we now incorporate deep learning into our DWI sequence,” chief operating off…

Viseon expands to outpatient surgery for 4K endoscope digital visualization tech

Viseon today announced plans to expand its market reach to outpatient surgery centers to move beyond minimally invasive spine surgery.

The Irvine, California-based company develops a single-use, 4K visualization system that serves as an alternative to more costly equipment like surgical microscopes, endoscopes and exoscopes. Viseon said that the technology makes high-quality visualization more accessible to surgeons.

“After initially cutting our teeth in minimally invasive spine surgery, we are now expanding the clinical applications for our enabling technology, a 4K advanced digital visualization (4K-ADV) company, with clinical and economic utility across several surgical areas of opportunity,” CEO Jeffrey Valko said in a news release. “We have demonstrated over 30% sales growth YTD 2023 over YTD 2022, as our surgeon users have consistently cost-justified their adoption of this enabling technology across multiple procedure types. Our surgeon …

How Intuitive plans to continue its surgical robotics leadership

Companies large and small have sought to take on Intuitive in soft-tissue surgical robotics, but it has maintained its dominance.

Intuitive President Dave Rosa will explain how Intuitive plans to continue maintaining distance from its competitors — and much more, during DeviceTalks West next week. Register here for the event, which is Oct. 18–19 in Santa Clara, California.

Rosa has been at Intuitive for nearly 30 years; the company promoted him to the president role in May. Working with CEO Gary Guthart, Rosa’s responsibilities include overseeing core business, driving product, digital and commercial excellence, and delivering on strategies and goals.

Rosa has said that he’s especially excited about two technological opportunities that are going to advance surgical robotics and minimally invasive surgery in a major way: improved visualization for surgeons and focal therapy.

“How can we help surgeons see more about what they’re doing? …