Here are eight things for spinal surgeons to know for June 22, 2017.
Stryker to acquire Canadian imaging technology company for $701M
Stryker purchased Canada-based NOVADAQ Technologies for $701 million. NOVADAQ develops fluorescent imaging technology for blood flow visualization in vessels and tissue perfusion related to cardiac, cardiovascular, gastrointestinal, plastic, microsurgical and reconstructive procedures. Under the agreement, Stryker will pay $11.75 per share, with a net purchasing price of $654 million and approximately $47 million in cash, totaling around $701 million.
Congress of Neurological Surgeons gives out Paper of the Year
The Congress of Neurological Surgeons granted Paper of the Year awards to highlight the best original science published in Neurosurgery over the past year. The top paper of the year was "PUFS Trial: Long-term Clinical and Angiographic Outcomes Following PED Treatment of Complex ICA Aneurysms: Five-year Results of the Pipeline for Uncoilable or Failed Aneurysms (PUFS) Trial." Read about other recognized papers here.
Mazor Robotics up against class action lawsuit
Mazor Robotics is facing a class action litigation suit in the United States District Court for the Southern District of New York. On June 8, the company reported Israeli Securities Authority conducted an investigation in May, searching offices and questioning officers. The investors allege Mazor violated the Securities Exchange Act of 1934. Read more about the case here.
CMS proposal to update MACRA: Changes to benefit physicians, small practices
On June 20, CMS issued a proposed rule to update the Medicare Access and CHIP Reauthorization Act of 2015's second year quality payment program, largely focused on simplifying the reporting process and relaxing requirements. The MACRA quality payment program has two tracks, including the Merit-based Incentive Payment System and Advanced Alternative Payment Models. Healthcare providers are able to choose which track they participate in. Read about the proposed changes to MIPS here.
Jon Stryker is Michigan's top philanthropist, donating $336M in the state since 2000
Jon Stryker, an heir to the Kalamazoo, Mich.-based medical device giant Stryker Corp., is the top philanthropist in the state of Michigan since 2000. Mr. Stryker has donated around $336.3 million to charitable endeavors in the state, primarily focused on the Arcus Foundation, which he founded in 2000. Read more about Mr. Stryker here.
Vertos Medical completes $28M financing round
Aliso Veijo, Calif.-based Vertos Medical completed a $28 million financing round. The new investors for the most recent financing round include MVM Life Science Partners, which led the round. Vertos plans to use the financing round's proceeds to expand commercialization of mild, the company's procedure designed to remove the cause of spinal stenosis through a minimally invasive incision.
Dr. Gary Michelson launches intellectual property online course
Spine surgeon and entrepreneur Gary Michelson, MD, and his foundation Michelson 20MM Foundation, launched an online course focused on patents, trademarks, copyright and trade secrets. The course, hosted on Udemy.com, is titled "Intellectual Property: Inventors, Entrepreneurs and Creators." The course includes 3.5 hours of content, divided into 38 videos. The course has checkpoints, links and learning objectives outlined.
Powerhouse companies in the global MIS spine market
The global minimally invasive spine surgery market is expected to grow at a compound annual growth rate of 7.57 percent through 2020, according to an Absolute Report analysis. DePuy Synthes, Medtronic, NuVasive and Stryker Zimmer Biomet lead the pack in the MIS spine device market.