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Five cardiovascular firms and a blood substitute company to gather in nearly $300 million
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GAITHERSBURG, Maryland - The Medical Device Dispute Resolution Panel convened in April for the second time since December - the first meeting being Acorn Cardiovascular (St. Paul, Minnesota - and this gathering was to referee a dispute between the agency and Cardima (Fremont, California) over the outcome of clinical trials for the Revelation TX microcatheter, which is designed to treat paroxysmal atrial fibrillation (PAF) in patients who have not responded to treatment with at least two drugs.
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UK venture capital firm Scottish Equity Partners (SEP) led a $17 million investment in Heartscape Technologies (Columbia, Maryland), which recently launched a device for the early diagnosis of heart attacks in emergency department (ED) patients.
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Medically speaking, this may be - borrowing a line from poet Robert Frost - "the road less traveled." This particular road is the human esophagus, and the traveler is the Hickey Cardiac Monitoring System (HCMS), being developed by emerging med-tech company Scivanta Medical (Spring Lake, New Jersey).
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Biotel (Minneapolis) reported that its board of directors voted to decline the previously reported proposal of Arrhythmia Research Technology (ART; Fitchburg, Massachusetts) to acquire it for $4 a share in cash or 0.154 shares of ART's common stock.
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NMT Medical (Boston) has received FDA permission to enroll half as many patients in its CLOSURE I patent foramen ovale (PFO)/stroke and transient ischemic attack (TIA) trial as originally required.
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Health organizations in the state of Nevada have partnered with Cardiac Science (Bothell, Washington) to form Nevada Project Heartbeat (Reno, Nevada), which they term the first statewide Public Access Defibrillation (PAD) program in the U.S. Cardiac Science has been selected as the program's preferred manufacturer, providing the program with Powerheart AEDs.
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The Centers for Medicaid & Medicare Services in early May issued a decision not to expand the patient pool which will be reimbursed for carotid artery stenting (CAS) procedures, expansion of CAS issued in a proposed National Coverage Decision in February.
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David Weber, PhD, has been named COO of Abiomed (Danvers, Massachusetts). Weber most recently held the position of general manager of GE Security's aviation and transportation business. Abiomed makes products that provide circulatory support for acute heart failure patients.
