Medtronic has agreed to pay $4.4 million to settle a lawsuit filed by the federal government accusing the company of selling medical devices made in China and Malaysia to the U.S. military.
Medical-device maker St. Jude Medical’s first-quarter net income rose almost 12 percent, helped by higher sales of its implantable defibrillators and devices that treat a type of irregular heartbeat. The company said four new product approvals in the U.S. will boost sales in the second half of the year and gave guidance within range of analyst expectations.
The University of Minnesota is recruiting students for a new master’s program in medical device innovation. The program is under the Technological Leadership Institute, part of the university’s College of Science and Engineering.
A tax on pacemakers and other medical devices made in Minnesota may be going away. Since January there’s been a 2.3 percent tax on medical device sales with the revenues earmarked to help pay for the new national health care reform law.
The Food and Drug Administration says it will collaborate with medical device manufacturers on a public-private partnership designed to speed up the development of new medical technology.
South Dakota officials plan to attend an event in Minnesota next week as part of an effort to attract companies that make medical devices.
President Obama signed into law an FDA Reauthorization bill on Monday that includes three key provision crafted by Sen. Al Franken.
Endo Pharmaceuticals Holdings Inc. said Monday it is buying urology and pelvic health company American Medical Systems Inc. for about $2.6 billion.
Medtronic, the world’s largest medical device maker, said Tuesday it will lay off up to 2,000 workers as part of a restructuring effort to make up for anemic sales of its implants.