Boston Scientific Archives - Page 5 of 19

Boston Scientific cuts back former Preventice workforce in Houston

Boston Scientific (NYSE:BSX) is reducing operations at a Houston facility it acquired as part of its $1.225 billion purchase of Preventice Solutions.

A layoff notice filed with the Texas state government in February says 120 jobs are affected, with the reductions starting on April 23 and continuing through June 25.

In a statement shared with MassDevice, the company said it is moving some of the work performed in Houston to its facility in Arden Hills, Minnesota. The transferred operations support the company’s mobile cardiac health tech.

The statement continued:

“This change will help us meet anticipated market demand for the products. Transferring work among our facilities helps us align our products, capabilities, technologies and resources to support our business strategies, and deliver value to our customers as well as life-changing medical solutions to patients. We initially informed employees of the intent to transfer this work i…

The biggest cardiology tech stories from ACC.23

Medtronic, Abbott, iRhythm and more presented new data at a major cardiology conference, ACC.23. [Images courtesy of Medtronic, Abbott and iRhythm] Major medtech players presented a range of intriguing studies at a gathering of some of the biggest names in the cardiology tech space.

Some of the hottest topics were covered this past week at the American College of Cardiology’s Annual Scientific Session Together With the World Congress of Cardiology (ACC.23/WCC) in New Orleans.

Ablation, cardiac implants, monitors and imaging technology represented a handful of the technologies on display. Medtronic, Abbott, Boston Scientific, Edwards and more offered new data on their innovative technologies in these areas.

Here are some of the biggest stories that came out of the cardiology conference.

Excitement builds around using pulsed-field ablation to treat AFib

Medtronic, Boston Scientific and Johnson & Johnson MedTech’s Biosense Webster all released new…

How these engineers make DeviceTalks Boston go!

We love engineers of all types — here are a just a few you’ll meet at DeviceTalks Boston.

We love engineers here at DeviceTalks.

It’s obvious why. Engineers are the straw that stirs medtech’s drink (apologies to Reggie Jackson). Nothing happens — financing, manufacturing, approval, help for patients — without a well-conceived product.

And engineers often transcend their typical design roles. They grow into business leaders, technology evangelists, startup CEOs, and yes, some stay to lead ground-breaking research and development groups.

So I’m thrilled to be bringing engineers of all types into the agenda of DeviceTalks Boston. We’ll have engineers from Abbott, ZimVie, Philips, Boston Scientific, Stryker and many other companies on hand to talk about being an engineer.

But we’ll also hear from engineers who have followed their careers into other parts of the medical device industry.

In this column, we’ll walk you through some of their …

Boston Scientific promotes from within for chief medical officer

Dr. Ken Stein, Boston Scientific’s global chief medical officer [Image courtesy of Boston Scientific]Boston Scientific’s new global chief medical officer is already well-known in cardiovascular device space circles.

Dr. Ken Stein joined Boston Scientific in 2009 as SVP and chief medical officer of its Rhythm Management business. He became chief medical officer for the entire company on Feb. 13.

Stein takes over for Dr. Ian Meredith. CEO Mike Mahoney announced during an October 2022 earnings call that Meredith would retire from the global CMO job this April. Mahoney thanked Meredith — who has been global CMO since 2017 — for his “dedication to patients, clinical science and meaningful innovation, and his great sense of humor.”

As he takes over the global CMO post, Stein remains excited about pulsed-field ablation and the company’s Farapulse system.

“The emerging field of PFA has shown promise in improving both the s…

New medtech to watch for in 2023: boosting health outcomes

[Image from Pixabay]As earnings season is upon us, we’re receiving a clearer view of what new medtech could be launching this year in the medical device space.

Companies still feel hamstrung by macroeconomic pressures, supply chain issues and more. However, many pointed out that 2023 has plenty to look forward to. Several quarterly reports and earnings calls included positive outlooks for the year ahead, with plenty of companies banking on significant revenue growth and other successes.

For many, that comes down to some new medtech product launches. Here are a few picked out from earnings calls and other announcements that you might want to look out for:

Abbott

On Abbott’s earnings call last month, CEO Robert Ford pointed to product launches as a major part of its outlook for 2023.

Abbott said it expects to log adjusted EPS of between $4.30 and $4.50. Excluding COVID-19-related sales, the company expects high-single-digit revenue growth.<…

FDA clears single-use ureteroscope system from Boston Scientific

The LithoVue Elite system. [Image courtesy of Boston Scientific]Boston Scientific (NYSE:BSX) announced today that it received FDA 510(k) clearance for its LithoVue Elite single-use ureteroscope system.

Marlborough, Massachusetts-based Boston Scientific plans a limited U.S. launch for the digital, flexible ureteroscope system in the coming weeks.

The company said in a news release that it’s the first ureteroscope system that can monitor intrarenal pressure in real-time. Its built-in pressure sensor allows urologists to make informed, pressure-related clinical decisions.

“Multiple studies have shown the importance of understanding intrarenal pressure during ureteroscopy procedures to mitigate potential complications, but until now, urologists have lacked an easy way to measure pressure in real-time,” said Dr. Ben Chew, associate professor, University of British Columbia. “This device represents an important and needed advancement in si…

5 reasons you should feel good about medtech companies in 2023

[Image from Pixabay]“Macroeconomic headwinds” is a phrase repeated a lot these days, but a string of positive medtech company earnings reports this week should cheer medical device industry insiders.

The medical device industry may once again prove that it’s an economically resilient space.

“While 2022 brought its share of supply chain and inflationary pressures, directionally, many companies note easing within the supply chain, lessening inflationary impacts, healthy capital demand, and improving procedural recovery. We think as these dynamics take shape through 2023, MedTech’s outlook and subsequent sector performance in the market will improve,” BTIG analyst Ryan Zimmerman told MassDevice via email.

Investors are finally looking past a lot of the macro challenges, according to Mike Matson, a senior research analyst at Needham & Co.

“While the medtech industry isn’t out of the woods yet, things have started t…

Boston Scientific hit with $42M verdict in drug-eluting stents IP case

[Image from Pixabay]Boston Scientific (NYSE:BSX) must pay $42 million in unpaid royalties to TissueGen and the University of Texas, a federal jury in Delaware has ruled.

The jury verdict yesterday came after the finding that Boston Scientific’s Synergy BP drug-eluting stents infringed on TissueGen and the university’s IP.

The patent under question arose out of research that TissueGen co-founder Kevin Nelson, PhD, conducted at the University of Texas Arlington in the late 1990s. Filed in 2000, the patent was for a “drug-releasing biodegradable fiber implant.”

The amended lawsuit complaint explained how Nelson came up with the idea:

“Though the industry believed otherwise, Dr. Nelson believed in the commercial viability of a drug-eluting stent based on biodegradable polymer fibers capable of controlled release of sensitive therapeutics. Dr. Nelson came up with the idea for his drug-eluting stent innovation while investigating wa…

Boston Scientific posts Q4 EPS miss despite massive bottom-line gain

Boston Scientific (NYSE:BSX) shares rose before the market opened today on fourth-quarter results that came in mixed compared to the consensus forecast.

Shares of BSX were up more than 1% at $46.97 apiece by midday trading today. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose more than 11%.

The Marlborough, Massachusetts–based company posted profits of $140 million. That amounts to 9¢ per share on sales of $3.242 billion for the three months ended Dec. 31, 2022.

Boston Scientific registered a 48.9% bottom-line gain on sales growth of 3.7%. The company’s MedSurg business reported 4.4% revenue growth, while its Cardiovascular arm grew by 6.4%.

Adjusted to exclude one-time items, earnings per share came in at 45¢. That fell 2¢ shy of expectations on Wall Street. The company attributed a negative impact of 4¢ on adjusted EPS to unplanned reserves established for Italian g…

DeviceTalkers assemble for the final Newsmakers of 2022

In this episode, your diligent team of DeviceTalkers assembled to review our Top 10 events, trends and newsmakers of 2022.

Executive Editor Chris Newmarker, Pharma Editor Brian Buntz, Managing Editor Jim Hammerand, Senior Editor Danielle Kirsh and Associate Editor Sean Whooley joined me, DeviceTalks Editorial Director Tom Salemi, for the latest DeviceTalks podcast.

We’ve got some highs — robots, diabetes — and some lows — supply chain, recalls — and a whole lot of interesting things in between. All-in-all, we’re bullish on what’s to come in 2023! And we only mentioned COVID-19 once.

Companies mentioned in our wide-ranging discussion include Abbott, Abiomed, Ambu, Becton Dickinson, Boston Scientific, CMR Surgical, Dexcom, embecta, Intuitive, Johnson & Johnson Medtech, Medtronic, Neuralink, Philips, Senseonics, Stryker, Synchron, Vicarious Surgical, Zimmer Biomet, ZimVie and many more.

You can listen to other DeviceTalks Podcast Network shows at…

The top 10 cardiac device stories of 2022

[Image from Pixabay]From pulsed-field ablation to non-invasive monitoring, this was an exciting year for cardiac device tech.

Here are the top 10 cardiac device stories from MassDevice and its sister sites:

10. Medtronic to pay Acutus $17M following EU MDR submission of left-heart access portfolio

Earlier this year, Acutus agreed to sell its left-heart access portfolio to Medtronic for $50 million.

9. Abbott confirms first implants of its dual-chamber leadless pacemaker system

The company designed its i2i technology to provide beat-by-beat communication between two leadless pacemakers, with one positioned on the right ventricle and the other in the right atrium.

8. Boston Scientific completes $1.75B Baylis Medical acquisition

The deal expanded Boston Scientific’s electrophysiology and structural heart product portfolios to include the radiofrequency (RF) NRG and VersaCross transseptal platforms. It also gained a family of guidewires, sheaths an…

Boston Scientific to acquire majority stake in interventional tech developer Acotec

Boston Scientific (NYSE:BSX) announced that it intends to make a partial offer to acquire a majority stake in Acotec.

Marlborough, Massachusetts-based Boston Scientific’s offer could add up to a maximum of 65% of Acotec’s shares. Its proposed price totals HK$20 per share. That amounts to approximately $523 million for the 65% stake at current exchange rates.

Acotec, a Chinese medical technology company offers solutions for a range of interventional procedures. Its offerings include drug-coated balloons (DCBs) for treating vascular and other diseases. The company launched the first peripheral DCB in China in 2016. It also offers radiofrequency ablation technologies and thrombus aspiration catheters, along with more than 20 other products in various development stages.

According to a news release, Acotec generated approximately $53 million in sales for the 12-month period ended June 30, 2022.

“Acotec is a profitable, fast-growing c…