Guidant settles with states over faulty defibrillators Sep 2, 2007
Florida is one of 35 states that have reached a settlement with over defective implantable defibrillators. Guidant will pay $16. (Tampa Bay Business Journal, FL)
Stent firm in talks to sell 2 units Aug 17, 2007
WASHINGTON -- is considering selling two surgical tools businesses to cut costs as sales decline for its main products, drug-coated stents and implantable defibrillators. The company, the world's second-largest maker of heart devices, is in talks with "several potential buyers" for the cardiac and vascular surgery units and expects any transactions to take "a number of months," according to a statement yesterday. (Boston Globe)
Boston Scientific's credit sinks to junk status on debt concerns Aug 4, 2007
In addition to the expected cost-cutting moves, efforts to improve the company's heart stent and implantable defibrillators businesses should contribute to a stronger financial position, Donovan said. Piper Jaffray analyst Tim Nelson said in an interview that the ratings cuts will certainly increase their incremental borrowing costs. (San Diego Union-Tribune -- Business)
Boston Scientific won't spin off unit Aug 3, 2007
Boston Scientific has been hurt by falling sales of implantable defibrillators, and orders for heart stents plummeted after they were linked to higher risks of potentially fatal blood clots. "It's too early to speculate about any of the details of the plan," spokesman Paul Donovan said. (Boston Globe)
Defibrillators Can Control Dangerous Heart Condition Jul 26, 2007
TUESDAY, July 24 (HealthDay News) -- Implantable defibrillators can reduce the risk of sudden death in high-risk patients with hypertrophic cardiomyopathy, a genetically linked thickening of heart muscle ... Implantable defibrillators (ICDs), which terminate these dangerous rhythm disturbances, have become routine over the past few years in high-risk patients with hypertrophic cardiomyopathy. (MEDLINEplus)
Medtronic to pay $75M to settle suits Jul 22, 2007
The settlement will also resolve about 2,000 claims over battery defects in Medtronic's implantable defibrillators ... A Medtronic (NYSE: MDT) accord would be the second big settlement in the past week by a manufacturer of implantable defibrillators. (Memphis Business Journal, TN)
Boston Scientific plans cuts Jul 21, 2007
Sales of implantable defibrillators, the high-tech heart-starting devices it acquired by buying Guidant last year, were $377 million , down slightly from $383 million a year ago. The company's stock dropped yesterday to its lowest closing price since early April. (Boston Globe)
Boston Scientific swings to 2nd-quarter profit, but revenue falls Jul 21, 2007
The company also saw losses in another key area, implantable defibrillators, which regulate heart beats. Second-quarter sales fell to $377 million, down from $383 million from the year-ago quarter and $398 million from this year's first quarter. (San Diego Union-Tribune -- Business)
Guidant Agrees to Settle Heart Defibrillator Cases, People Say Jul 15, 2007
The settlement will resolve more than 4,000 claims filed over Guidant's implantable defibrillators, which customers contend short-circuited from faulty insulation, Boston Scientific officials said in a statement today ... The case is In Re: Guidant Corp. Implantable Defibrillators Products Liability Litigation, MDL No. 05-1708, U.S. District Court, District of Minnesota (Minneapolis). (Bloomberg)
Guidant owner OKs $195M settlement Jul 14, 2007
The settlement will resolve more than 4,000 claims filed over Guidant's implantable defibrillators, which customers contend short-circuited from faulty insulation, Boston Scientific officials said in a statement Friday. The settlement means Guidant, formerly based in Indianapolis, won't have to face a first trial over its defibrillators, which had been scheduled for July 27 in Minneapolis. (Indianapolis Star)
Waterway Owner Once Toiled On Its Docks Jun 17, 2007
" The state retains authority to regulate waterways for the common good, so Lorton can't block or fill the Port Tampa slip on a whim. Lorton is building a new bulkhead at the Port Tampa slip to help attract businesses and reduce the annual dredging required to maintain the slip's 34-foot depth. The 62-year-old began working on the waterfront as a ship repair helper in the early 1960s. He said he remembers repairing vessels at Port Tampa when few others would travel to the slip, which lacks dry... (Tampa Bay Online, FL -- News)
Medtronic Profit Paced by Cardiac Implants May 23, 2007
Medical-device heavyweight Medtronic Inc. (MDT) on Tuesday reported a 10% increase in fiscal fourth-quarter earnings that reflected some improvement in the company's biggest business, implantable defibrillators, as well as favorable currency exchange rates. The market for the heart devices, known as ICDs, has been rocky since industry recalls in 2005, but recent first-quarter reports from Medtronic competitors Boston Scientific Corp. (BSX) and St. Jude Medical Inc. (STJ) indicated some... (SmartMoney)
Report: Boston Scientific may sell noncore assets May 4, 2007
Boston Scientific's implantable defibrillators (ICDs) unit -- it's second largest business -- isn't going anywhere. LaViolette said that despite industry-wide disappointment in ICD sales after product recalls in 2006, he sees organic, double-digit growth in that sector over time. (Twin Cities Business Journal, MN)
Boston Scientific Profit Falls 64 Pct. Apr 24, 2007
62 billion in the year-ago period -- a result boosted in part by the addition of Guidant's implantable defibrillators and pacemakers to diversify a Boston Scientific product portfolio that had been overly dependent on heart stents to prop open coronary arteries. That result narrowly beat the consensus estimate of analysts surveyed by Thomson Financial, who expected sales of $2. (Sunspot.net -- Business)
Net drops 64% at Boston Scientific Apr 24, 2007
Demand for heart stents fell 26 percent from a year earlier, and sales of implantable defibrillators dropped 5 percent. Orders for drug-coated stents have been sliding since researchers reported increased risks of deadly blood clots. (Boston Globe -- Business)
Guidant deal looking better with time Apr 23, 2007
Stent exposure could be lower still, except for the key problem that's faced Guidant and its chief competitors, and St. Jude Medical Inc., over the last year: a much slower-than-expected market for implantable defibrillators. The devices for patients with fragile hearts, known as ICDs, once experienced rapid growth that was expected to resume last year. (Boston Globe -- Business)
FDA lifts a Boston Scientific alert, clears way for new products Apr 17, 2007
factory where Guidant made implantable defibrillators ... Boston Scientific, and many analysts, had predicted robust growth for implantable defibrillators, which can save the lives of patients at risk of sudden heart stoppage and cost more than $25,000. (Boston Globe)
Life Sciences 25 Apr 16, 2007
Boston Scientific recalled a small number of implantable defibrillators; Biogen said a one-year study showed its multiple sclerosis drug was more cost-effective than other treatments. LAST. (Boston Globe)
Implantable Defibrillators Offer Heart Patients a Better Quality of Life Apr 13, 2007
Recipients report high level of satisfaction with the devices. Wednesday, April 11, 2007. (MEDLINEplus)
Heart Test Shows Who Needs Implantable Defibrillators Mar 27, 2007
"We need more studies that are confirmatory before we start excluding patients from implantable defibrillators," she stressed ... However, implantable defibrillators are hardly cheap themselves: by one estimate, they can cost $90,000 over a lifetime. (MEDLINEplus)
Daily Briefing Mar 3, 2007
Boston Scientific faces more than 1,175 individual and class-action lawsuits over recalls and safety warnings issued in 2005 and 2006 involving Guidant's implantable defibrillators and pacemakers, the company said in an annual filing made after markets closed Thursday. Bayer to cut 6,100 jobs, 1,000 in U.S.. (Atlanta Journal-Constitution -- Business)
Legal Liability Mounts For Boston Scientific Mar 3, 2007
Boston Scientific faces more than 1,175 individual and class-action lawsuits over recalls and safety warnings issued in 2005 and 2006 involving Guidant's implantable defibrillators and pacemakers, the company said in an annual filing made after markets closed Thursday ... Boston Scientific faces more than 1,175 individual and class-action lawsuits over recalls and safety warnings issued in 2005 and 2006 involving Guidant's implantable defibrillators and pacemakers, the company said in an annual... (WCCO.com, MN)
Women Suffer Differently Feb 27, 2007
For example, more women than men die of heart disease, but women receive 33 percent of all angioplasties, stents and bypass surgery; 28 percent of implantable defibrillators; and 36 percent of open heart surgeries, according to the National Coalition for Women With Heart Disease. Only 62 percent of women survive their first heart attack, compared with 75 percent of men, according to the American Heart Association. (The Ledger)
Medtronic 3Q Profits Rise 6 Percent Feb 21, 2007
Medical device maker Medtronic Inc. says millions of people need implantable defibrillators, and it's a market that should grow at 10 percent a year or more, eventually ... Because of the weakness for sales of implantable defibrillators, Medtronic tempered its expectations for full-year revenue to a range of $12. (Sunspot.net -- Business)
Cardiovascular Disease in Women Feb 10, 2007
28% of implantable defibrillators; and. 36% of open-heart surgeries. (Suite101.com)
Experts' plan to cut heart deaths Feb 6, 2007
More patients with heart problems should be given implantable defibrillators to reduce the risk of sudden death and discharge arrangements for hospital patients with heart failure should be improved. Professor Keith Fox of Sign said: "These guidelines bring together the most robust and up-to-date scientific evidence and the very best clinical expertise to detail how we can save thousands of people from developing and suffering the complications of heart disease. "The result will be thousands of... (BBC News -- UK)
Boston Scientific lost $3.6b in '06 due to Guidant deal Feb 3, 2007
In a conference call with investors yesterday, chief financial officer Lawrence Best said he believed the market had "bottomed out" for stents, and for implantable defibrillators made by Guidant. "I don't think anybody in Wall Street is going to believe us," said Best, "but internally we actually think our best year on drug-eluting stents is ahead of us, not behind us.". (Boston Globe)
One Liberty Square sold to Dallas realty company Jan 9, 2007
Boston Scientific to cut 500-600 jobs in Minnesota , the number two maker of implantable defibrillators, said it will cut 500 to 600 research and development jobs at its electronic heart device plant in St. Paul. Most of the employees to be dismissed work at the campus of the former , which Boston Scientific acquired for $27. (Boston Globe -- Business)
State St. Financial Center sold to Pa. REIT for $889m Jan 3, 2007
Firm reports 2-chamber heart pacing is superior , the second-biggest maker of electronic heart devices, reported that implantable defibrillators capable of speeding up two chambers of the heart benefited patients more than those that speed up only one chamber. The study, in the January issue of the journal Circulation, reported on 1,530 patients at 108 hospitals who received special defibrillators that act as part-time pacemakers to maintain healthy blood flow while standing by to restart hearts... (Boston Globe -- Business)
Investors rediscover drug-coated heart stent business Dec 29, 2006
Boston Scientific became a major player in implantable defibrillators and reduced its dependence on Taxus, its blockbuster drug-coated heart stent, with its acquisition last spring of Guidant. But Taxus still accounts for well over 25 percent of sales and an even larger share of profits. (International Herald Tribune -- Business)
Medtronic: Still Beating Dec 12, 2006
that's the challenge facing the leader in implantable defibrillators and other devices for managing out-of-step hearts. Investors cheered when the company showed renewed growth in its latest quarterly sales, lifting Medtronic () shares almost 10% in the past couple of weeks, to 53. (SmartMoney)
Medtronic to spin off external defibrillator unit Dec 5, 2006
Medtronic Chairman and Chief Executive Art Collins said the spin-off would allow the company to reallocate resources into areas with greater growth potential, such as implantable defibrillators and neurology, spinal and diabetes products. Revenue from the external defibrillator business was projected to grow 8 percent to 12 percent annually over the next five years, based on current funding levels, Collins said. (ABC News -- Wire)
Defibrillator Implants Pace Medtronic Nov 22, 2006
Medtronic's quarterly sales of implantable defibrillators, or ICDs, rose 4% to $764 million. The company also noted that ICD sales jumped 14% sequentially over last quarter. (SmartMoney)
What It Takes To Succeed Nov 21, 2006
Yet as they experimented with the properties of their powders, Bi and Kambe realized their novel batteries released charge fast--ideal for implantable defibrillators, less so for consumer devices like cell phones. Jenks was hunting for other applications for the powders, too. (Forbes -- Technology)
Seven-point system gauges seriousness of heart failure in elderly Nov 10, 2006
The points system may steer doctors toward considering more aggressive treatments such as implantable defibrillators and pacemakers for those at low risk of death. However, elderly patients with a high risk may want to avoid stressful and unnecessary medical intervention and may benefit most from palliative or hospice care. (EurekAlert!)
Boston Scientific: FDA will lift warning in '07 Oct 19, 2006
Sales of both of the company's flagship products, drug-coated stents and implantable defibrillators made by Guidant, have been hurt by news in the past year. Guidant's defibrillators suffered a series of recalls and high-profile malfunctions, while drug-coated stents have come under scrutiny recently from doctors worried about the long-term clotting they appear to cause in some patients. (Boston Globe)
St. Jude Warns Doctors of Pacemaker Software Glitch Oct 17, 2006
St. Jude's pacemaker problem comes as heart devices undergo increased scrutiny after a number of high-profile recalls of implantable defibrillators by Guidant Corp., which is now owned by Boston Scientific Corp. ... No other St. Jude pacemakers or implantable defibrillators are affected. (MEDLINEplus)
DAILY DIGEST Sep 28, 2006
The companies sought Guidant's lucrative line of implantable defibrillators, electronic heart devices that prevent sudden and fatal cardiac arrest. Defibrillators are seen as one of the most promising growth markets in the medical-device business. (San Francisco Chronicle -- Business)
Johnson & Johnson sues Boston Scientific over Guidant bid Sep 27, 2006
The companies sought Guidant's lucrative line of implantable defibrillators, electronic heart devices that prevent sudden and fatal cardiac arrest. Guidant is the country's number-two maker of defibrillators, which were seen as one of the most promising growth markets in the medical-device business. (Boston Globe)
Boston Scientific earnings far below analyst projections Sep 23, 2006
The company said that during the quarter, it experienced a softening market for some of its key products, including drug-eluting stents and implantable defibrillators. "While the third quarter was challenging, we made progress on a number of fronts, most notably the integration of Guidant and our quality initiatives," said Jim Tobin, president and chief executive officer of Boston Scientific. (Albany Business Review, NY)
Bonds Have More Fun Sep 23, 2006
Boston Scientific () saw its ailments multiply in the wake of the costly Guidant acquisition, as its implantable defibrillators and drug-coated stents lost market share to rivals, forcing management to reel in profit and sales targets. In contrast, AT() shares continued to rally, its 4% dividend made more attractive by the 10-year Treasury yield's decline to a seven-month low of 4. (SmartMoney)
Boston Scientific sees Q3 results below Street Sep 22, 2006
He said the shortfall was across all the company's most important businesses: stents, implantable defibrillators and pacemakers. Weinstein said the projected Taxus sales figures were $30 million to $60 million shy of his estimates and $55 million to $75 million short of Wall Street consensus expectations. (ABC News -- Wire)
Boston Scientific says sales of key products slowing Sep 22, 2006
said last night that sales of its two key products, stents and implantable defibrillators, were slowing down and were likely to drag its third-quarter profit well below Wall Street expectations. The Natick company estimated total third-quarter sales would be about $2 billion, compared to analysts' expectations of $2. (Boston Globe -- Business)
New Treatments for Congestive Heart Disease Sep 19, 2006
Implantable defibrillators have "radically changed the survival rate for heart failure patients," Yarlagadda says. And for a group of patients, whose ailing hearts beat out of synchronization, a new type of pacemaker can force the right and left sides of the heart to work together to pump life-sustaining blood to the organs more efficiently. (The Ledger)
Bristol-Myers Said Signals Possible Sale Sep 15, 2006
Cornelius shepherded the company through a protracted recall of thousands of pacemakers and implantable defibrillators into a heated bidding war where Boston Scientific Corp. triumphed over Johnson on Inc. this year. Cornelius has also stated he will not consider a permanent appointment. (ABC News -- Wire)
Increased dietary fish oil may prevent many deaths Sep 14, 2006
Kottke's team estimates that implantable defibrillators would lower the cardiac death rate by 3. 3 percent, still not as much as the 6. (Scientific American)
Media Alert: Cardiac Contractility Modulation (CCM) Data to Be Presented at the 2006 Heart Failure Society of America's 10th Annual Scientific Meeting Sep 9, 2006
Unlike signals delivered by other cardiac devices, likes pacemakers and implantable defibrillators, the CCM signals do not initiate a heart beat. Rather, CCM signals are intended to modify heart cell function in a manner that affects the contractility of the heart muscle. (PR Newswire)
Fish Oils May Be Lifesavers Sep 6, 2006
In a third scenario, people who needed implantable defibrillators because of heart failure got those devices ... 3% for implantable defibrillators, and less than 1% with easy access to AEDS, the study shows. (Yahoo News -- Heart Disease & Cardiovascular Disorders)
Is IC business stuck in lull or slowdown? Aug 26, 2006
On the emerging medical front, Medtronic reported weaker than expected shipments of implantable defibrillators (ICDs), which could impact chip makers like Microsemi Corp.. "Microsemi's 15 percent revenue exposure to ICD chips could be concerning to some investors, though we believe this end market weakness is reasonably well known," Berger said. (EETimes)
Medtronic to spend up to $100M on defibrillator campaign Aug 24, 2006
will spend up to $100 million on a number of initiatives geared toward jump-starting sales of its implantable defibrillators. Although Medtronic's total earnings soared more than 80 percent in the first-quarter, the med-tech firm's implantable defibrillators business has been in decline recently. (Twin Cities Business Journal, MN)
Movers: The best may be over in junk bond market Aug 14, 2006
There are 477 individual lawsuits and 72 class action suits related to Guidant's implantable defibrillators, Boston Scientific, based in Natick, Massachusetts, said last week in a filing with the U.S. Securities and Exchange Commission. The majority of suits seek compensation for medical monitoring and anxiety, not injury, according to the filing. (International Herald Tribune -- Business Asia)
Boston Sci. faces 549 lawsuits from Guidant recalls Aug 12, 2006
In a securities filing, Boston Scientific (NYSE: BSX) said there are 477 individual lawsuits and 72 product liability class-action suits related to Guidant's implantable defibrillators ... Guidant's cardiac rhythm management unit, which makes implantable defibrillators, is based in Arden Hills. (Twin Cities Business Journal, MN)
Boston Scientific Corp. sets aside $381 million for legal costs connected to faulty heart devices made by Guidant Corp. Aug 10, 2006
Guidant, a leading manufacturer of implantable devices that keep the heart beating smoothly, recalled more than 200,000 implantable defibrillators and pacemakers before being acquired by Boston Scientific, of Natick. At least seven deaths have been attributed to Guidant device malfunctions, and tens of thousands of patients are faced with a decision over whether to have a removal operation, or to live with the risk that their device may not deliver its lifesaving charge when needed. (Boston Globe)
Taking wireless to heart Aug 5, 2006
Use of implantable defibrillators has risen from about 21,000 in 1995 to more than 250,000 last year. With such high numbers involved, some doctors worry whether they've got enough staff and time to process the influx of data home monitoring systems can provide. (USA Today -- News)
Boston Scientific, St. Jude Medical settle some cases Aug 1, 2006
The companies also agreed to put limits on continuing litigation in two other cases over implantable defibrillators and cross-licensed an unspecified number of patents, both companies said. Neither side will have to pay royalties on the licenses. (Boston Globe -- Business)
Pending Medicare Change Worries Hospitals Jul 31, 2006
For instance, companies like Medtronic and Boston Scientific's Guidant division charge $31,833 for implantable defibrillators that help resynchronize the heartbeat of heart failure patients. Under the Medicare proposal, the reimbursement to hospitals would be cut to $23,755 -- a loss of $8. (WCCO.com, MN)
Movers: Tire maker plans to sell portion to bank group Jul 28, 2006
A new recall last month of implantable defibrillators, which regulate heart rhythms, may hurt that strategy, analysts said. $@ - Avram Goldstein. (International Herald Tribune -- Business Asia)
Boston Scientific has $4.26B loss on Guidant purchase Jul 28, 2006
Sales of implantable defibrillators, which Natick, Mass. -based Boston Scientific (NYSE: BSX) acquired with the $27. (Twin Cities Business Journal, MN)
Routine ECGs for newborns would identify life-threatening heart condition Jul 13, 2006
This indicates that early treatment of LQTS would also prevent some deaths regarded as SIDS because, once detected, it can be successfully treated in most cases with medication by beta-blockers, or occasionally by sympathetic denervation[3] or the use of implantable defibrillators. Although the focus of the 45,000-infant study was to identify babies with LQTS, the research also unexpectedly revealed four cases involving two other life-threatening heart conditions coarctation of the aorta and... (EurekAlert!)
FDA Update Statement on Boston Scientific/Guidant Pacemakers and Defibrillators Jul 12, 2006
As part of the agency's continued commitment to keep the public informed of product safety issues, the Food and Drug Administration (FDA) today is providing this update on pacemakers and implantable defibrillators made by Guidant, a Boston Scientific company ... FDA met last week with Boston Scientific/Guidant to discuss the firm's recent announcement that several models of pacemakers and implantable defibrillators should be removed from hospital inventories because they have the potential to... (U.S. Food and Drug Administration)
Medtronic seeks to dismiss lawsuits involving defibrillator Jul 11, 2006
The issue at the heart of the lawsuits is whether Medtronic adequately informed medical professionals and the FDA when it learned of a potential shorting problem with one of its implantable defibrillators in 2003 ... Medtronic said in court that the FDA has special authority over lifesaving or life-sustaining medical devices, such as implantable defibrillators that shock a heart into normal rhythm. (Brainerd Daily Dispatch)
It could take a lot of time for medical stock blahs to run its course Jul 6, 2006
Consider of Natick and the troubled implantable defibrillators and pacemakers made by the company it recently acquired, Boston Scientific shares are down 33 percent this year, and the stock hit its lowest level in more than three years yesterday. But still other problems have dragged down some medical and healthcare stocks. (Boston Globe)
Loser in medical bidding war may be a winner Jun 29, 2006
And just two months later, it's issuing a massive recall of Guidant's faulty pacemakers and implantable defibrillators. advertisement. (MSNBC -- Business)
Defibrillator implants costly Jun 26, 2006
By Steve Sternberg, USA TODAY One of every 10 Medicare patients fitted with implantable defibrillators have complications that prolong hospital visits and add millions in costs, a new analysis shows. The study of 31,000 cases is the largest of its kind and the first to examine complication rates among the full range of doctors and hospitals that implant defibrillators, not just the top doctors and major medical centers that typically conduct research trials. (USA Today -- News)
Implantable Defibrillators Save Lives But May Increase Heart Failure Risk Jun 14, 2006
Posted: June 13, 2006. Implantable cardioverter defibrillators (ICDs) reduce the risk of sudden cardiac death but may increase the risk of subsequent heart failure in patients who live longer, according to a study published in Circulation: Journal of the American Heart Association. (Science Daily)
