St. Jude profit falls in Q4; expects '08 to rise Jan 24, 2008
St. Jude said sales of implantable defibrillators were up 19 percent to $637 million for the quarter. About $20 million in revenue was linked to doctors switching to St. Jude products after the recall, the company said. (Twin Cities Business Journal, MN)
Radio Ablation Cuts Need for Heart Shocks Dec 28, 2007
Treating heart attack victims with radio waves helps reduce the likelihood that implantable defibrillators will need to jolt ailing hearts into beating properly, researchers reported on Wednesday. The radiowave technique involves sending a probe into the heart, finding scar tissue from an earlier heart attack, and using radio waves to destroy the portion of that scar that can catastrophically disrupt the heartbeat. (Newsmax)
IRobot settles 2 lawsuits on patent infringement Dec 22, 2007
5 million in attorneys' fees, resolves 2,682 claims over battery defects in implantable defibrillators. Medtronic doesn't admit any wrongdoing in the settlement, the company said. (Boston Globe)
St. Jude devices have wire problems Nov 13, 2007
MINNEAPOLIS - Wires from St. Jude Medical implantable defibrillators have perforated patients' hearts in four cases, a medical journal reported yesterday, less than a month after rival recalled its own similar wires ... Implantable defibrillators are meant to jolt the heart back to its proper rhythm. (Boston Globe)
St. Jude slips after journal report Nov 13, 2007
Leads connect implantable defibrillators to hearts. Little Canada-based St. Jude said it has submitted a response to the journal editorial that will be published in December. (Twin Cities Business Journal, MN)
Effect on Mass. unclear as Boston Scientific cuts 2,300 jobs Oct 18, 2007
At the same time, Boston Scientific's other main business, implantable defibrillators that help regulate the heart, has been hurt by a series of recalls, making doctors and patients more cautious about using them. Boston Scientific acquired the cardiac rhythm management business, which includes defibrillators and related products, when it bought last year. (Boston Globe)
Defib Wire Warning Shouldn't Worry Most Users Oct 17, 2007
MONDAY, Oct. 15 (HealthDay News) -- On Monday, Medtronic -- a leading maker of implantable defibrillators -- voluntarily stopped distribution of Sprint Fidelis electronic leads for the devices, because it said the wires could fracture, potentially triggering cardiac events. The news may have hundreds of thousands of Americans with implanted defibrillators wondering what to do next. (MEDLINEplus)
Report: Boston Scientific to cut up to 3,400 jobs Oct 17, 2007
Questions about the safety and benefits of stents, and recalls on implantable defibrillators have taken a toll on the company's bottom line. The company held $8. (Albany Business Review, NY)
Heart patients sue Medtronic over recalled device Oct 17, 2007
Medtronic has acknowledged that Sprint Fidelis wires connecting its implantable defibrillators to patient hearts break more often than it expected. It says five deaths may be linked to them. (FOX23.com, OK)
Analysts expect thousand of layoffs worldwide for Boston Scientific Corp., the Massachusetts medical device maker, Oct 16, 2007
The market for implantable defibrillators, which help regulate the heart, has been hurt by a series of recalls by Guidant and rival Medtronic, including one by Medtronic announced yesterday - making some doctors think twice about recommending them. In the second quarter, Boston Scientific said, defibrillator sales fell 1 percent. (Boston Globe)
Medtronic Pulls Defibrillator Wires, Shares Drop Oct 16, 2007
(AP) WASHINGTON Recalls had already battered the heart device industry when Medtronic warned doctors on Monday that the wires connecting a patient's heart to its implantable defibrillators break too often ... It was a major setback for Medtronic and its efforts to improve growth for its implantable defibrillators and pacemakers ... Sales of implantable defibrillators were once a source of rapid growth for Medtronic and competitors Guidant (now part of Boston Scientific Corp.) and St. Jude... (WCCO.com, MN)
Medtronic suspends sale of heart device Oct 16, 2007
The product suspension is the latest setback for Medtronic, which is already suffering from weaker-than-expected sales of implantable defibrillators, where it competes with Boston Scientific Corp. and St. Jude Medical Inc.. Sales of such devices have declined dramatically since 2005 following a wave of product recalls, mostly by Guidant Corp. which was later acquired by Boston Scientific. (San Diego Union-Tribune -- Business)
Women less likely to get lifesaving device Oct 3, 2007
Two to three times as many men receive implantable defibrillators ... Implantable defibrillators are pacemaker-like devices that can detect lethal heart rhythms and shock the heart back into proper rhythm, saving patients from sudden death. (MSNBC -- Health)
Study: Women, blacks less likely to get heart devices Oct 3, 2007
In late 2004, Medicare greatly expanded coverage of implantable defibrillators for primary prevention of sudden cardiac death in patients who have had a heart attack and have either cardiomyopathy or heart failure ... Medicare covers implantable defibrillators for heart failure patients whose ejection fraction is below 35 ... The American College of Cardiology/AHA guidelines regarding implantable defibrillators came out in August 2005, the Heart Failure Society of America's in January 2006. (USA Today -- News)
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)
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)
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)
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)
