Medtronic Takes Aim At Implantable Device Infections With TYRX Buy
The $160 million cash acquisition fits with the firm’s efforts to fashion itself into a health care services and solutions company, rather than a pure device firm. TYRX makes anti-bacterial envelopes for implanted devices, and has FDA clearances for use of its products with cardiac implantable electronic devices and spinal cord neurostimulators.
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Value is a concept that is increasingly embraced by providers and payers, as well as medtech manufacturers. Leading providers are organizing around value, changing their models and thereby inviting medtech manufacturers to adapt to the post fee-for-service era. Some, like Medtronic, are at the head of the game.
Stryker’s acquisition of Patient Safety Technologies was a small tuck-in for a company with $8.7 billion in revenues, and the acquired product somewhat mundane. Patient Safety Technologies’ subsidiary SurgiCount Medical Inc. makes a surgical sponge counting system to make sure surgeons don’t leave sponges inside patients by mistake, but the small size of the deal belies its importance as an example of how medical device companies must change to meet the demands of our changing health care system.
FDA announces the formation of a new Program Alignment Group, made up of center directors and other officials, and schedules an workshop on intraocular lenses. The agency’s Circulatory System Devices panel will review CardioMEMS’ pulmonary monitoring system again and Medtronic devices. CMS opens coverage analysis for hepatitis C screening. More news.