November 27, 2010 |
A prominent Chicago spine surgeon serving as an advisor in the Department of Veterans Affairs is under scrutiny from congressional Republicans over his relationship with a medical device maker that paid him millions in consulting fees before he joined the government. Stephen Ondra, former director of spine surgery and professor of neurological surgery at Northwestern University, got more than $3.7 million in royalties and consulting fees from Medtronic in the six months ending in June 2008, about 11 months before he became the VA's senior policy advisor for health affairs.
July 4, 2009 |
Zapping the brain with a mild electrical current appears to help patients with a difficult-to-treat form of cerebral palsy, French researchers said Wednesday. Patients in the study were implanted with pacemaker-like devices known as deep-brain stimulators made by Medtronic Inc., which helped fund the study. After a year, eight out of the 13 people had improvements in motor symptoms, the researchers reported in Lancet Neurology.
May 20, 2009 |
Medtronic Inc. is warning that 37,000 of its pacemakers may have wiring defects that can cause them to malfunction. The Minneapolis company says in a letter to physicians that the defect affects a subset of its Kappa and Sigma pacemakers, causing them to run out of battery power or not respond. About 1.7 million of the pacemakers have been implanted since 1997, the company estimates. Medtronic says it has received two reports of patient deaths where the pacemakers may have played a role.
February 24, 2009 |
Medtronic Inc. announced two acquisitions Monday that would expand the company's heart valve business at a price of more than $1 billion. Medtronic, the world's largest medical device maker, said it would pay $700 million for Corevalve Inc. in Irvine and $325 million for Israeli firm Ventor Technologies Ltd. Both companies make replacement heart valves.
May 7, 2008 |
Medtronic Inc. said it would eliminate about 1,100 jobs this year, or almost 3% of its workforce, in businesses where growth has slowed, including its flagship heart rhythm device unit. The company said it also would consolidate certain manufacturing and research-and-development operations as part of a realignment of its global workforce. As part of the restructuring effort, Minneapolis-based Medtronic will move its endovascular manufacturing operations to Galway, Ireland, from Santa Rosa, Calif.
November 21, 2007 |
Medtronic Inc. has agreed to pay about $130 million to settle claims that it hid defects in heart defibrillators, adding $55 million to an amount proposed in July, three people with direct knowledge of the deal said. The extra money will allow Medtronic to resolve about 2,600 claims, 600 more than were envisioned in the $75-million initial settlement, the people said. The company agreed to the higher amount last month after more claims were filed over the devices than expected, the people said.