Medtronic To Pay $55M In HeartWare Investor Suit
Device-giant Medtronic has agreed to pay $54.5m to settle a class-action suit filed by investors in HeartWare, which Medtronic bought in 2016. The plaintiffs say HeartWare misled investors about the safety of a miniaturized heart pump under development.
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The deal gives Medtronic its first ventricular-assist devices and gives struggling HeartWare a needed boost.
HeartWare is counting on its established HVAD technology to carry it through a difficult period as it struggles to relaunch the clinical trial of the MVAD miniaturized ventricular assist device.
Radiofrequencies from the incontinence-sensing devices may interfere with other medical equipment in a hospital setting.