Abbott secures conditional EU OK for $25B St. Jude Medical deal | Offering pulls in $15.1B for Abbott | Zimmer Biomet, IUIH team up on affordable musculoskeletal care
November 28, 2016
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Abbott secures conditional EU OK for $25B St. Jude Medical deal
Abbott Laboratories' acquisition of St. Jude Medical, valued at $25 billion, has obtained approval from the European Commission on the condition that Abbott will sell two cardiovascular treatment devices. Abbott has committed to divest its Vado business and the global vessel closure devices business of St. Jude Medical to address the commission's competition concerns.
Medical Devices Business Review (U.K.) (11/25),  Reuters (11/23) 
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Business & Market Trends
Offering pulls in $15.1B for Abbott
A public offering of senior notes has brought in $15.1 billion for Abbott, according to a regulatory filing. The company intends to use the net proceeds to fund its acquisition of St. Jude Medical.
Seeking Alpha (free registration) (11/23) 
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Zimmer Biomet, IUIH team up on affordable musculoskeletal care
Zimmer Biomet has partnered with the Indo UK Institute of Health to enhance patient access to affordable musculoskeletal health care in India under the institute's Medicity program. The 20-year collaboration calls for Zimmer Biomet to provide and distribute large joint implants, trauma products and small fixation devices for replacement surgery, as well as to invest in IUIH's parent company, UK Global Healthcare Limited.
MassDevice.com (Boston) (11/23) 
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New president, CEO named by DJO Global
Brady Shirley, the former president of surgical business at DJO Global, has been tapped to serve as president and chief executive officer at the company. Shirley will replace Mike Mogul, who will stay in his post until the end of the year.
Healio (free registration)/Orthopedics Today (11/25) 
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Collagen Matrix appoints new chief financial officer
Oystein Valberg, who has over 20 years of experience in corporate finance, has been tapped to serve as chief financial officer at Oakland, N.J.-based Collagen Matrix. Valberg previously served as chief financial officer and vice president of finance, strategy and business development at Medtronic's surgical technology business unit.
NJBIZ (New Jersey) (11/23) 
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Science & Health
Study shows positive results for Boston Scientific's HeartLogic system
A 900-patient study presented at the American Heart Association's Scientific Sessions showed positive results for HeartLogic, a system of sensors developed by Boston Scientific for tracking vital signs, connecting to defibrillator devices and providing doctors with alerts on symptomatic patients. Researchers from the Penn State College of Medicine reported that the system detected 70% of heart failure events at about 34 days before an event, with the number of false positives occurring within "an acceptable range."
Med Device Online (11/23) 
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Emerging Technologies
EU OKs micro-ultrasound system from Exact Imaging
European regulators have given Exact Imaging CE mark approval for its ExactVu micro-ultrasound platform for prostate imaging and biopsy guidance. The device comes with an operating frequency of 29 MHz and provides real-time, high-resolution imaging of the prostate, allowing for improved biopsy performance and enhanced viewing of abnormalities.
FDAnews (11/28),  AuntMinnie.com (free registration) (11/23) 
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Hot Topics
Government & Regulatory
Senate Dems hope for changes to 21st Century Cures bill despite GOP deal
Republican leaders in Congress said they have reached an agreement on the 21st Century Cures Act, which contains provisions that would expedite FDA review of breakthrough medical devices and drug-device combinations, among others, and now expect the bill to be approved by year's end. A Senate health committee senior aide, however, said Senate Democrats are still negotiating and hope to make changes to the legislation, which will be up for vote in the House on Wednesday.
STAT (11/27) 
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Xtant Medical's expandable interbody system cleared by FDA
Belgrade, Mont.-based Xtant Medical has obtained clearance from the FDA for its Xsert Lumbar Expandable Interbody System, a titanium expandable interbody device intended for facilitating insertion techniques while offering implant height adjustability. The device, which comes in various sizes and lordotic angulations, is cleared to be used with allograft bone graft or autograft.
BeckersSpine.com (11/23) 
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FDA authorizes emergency use of Abbott's Zika assay
Abbott has obtained emergency use authorization from the FDA for its RealTime Zika assay, which is intended for the detection of Zika RNA in human serum, urine and EDTA plasma. The RT-PCR assay allows nucleic acids to be isolated from a sample and be purified using the Abbott mSample Preparation System that runs on an authorized instrument, such as the Abbott m2000sp instrument.
GenomeWeb Daily News (free registration) (11/23) 
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