U.S. TAXPAYERS PAID MILLIONS TO DESIGN A LOW-COST VENTILATOR FOR A PANDEMIC: INSTEAD, A ROYAL PHILIPS N.V. SUBSIDIARY IS SELLING VERSIONS OF IT OVERSEAS.
By Patricia Callahan, Sebastian Rotella and Tim Golden ProPublica Five years ago, the U.S. Department of Health and Human Services tried to plug a crucial hole in its preparations for a global pandemic, signing a $13.8 million contract with a Pennsylvania manufacturer to create a low-cost, portable, easy-to-use ventilator that
By Larry Storer The great medical technology companies of our time start and develop in a variety of ways. Some start with a product or idea and built a market around it. Some start as spinoffs from existing successful companies. But Venclose started by determining the unmet needs
Covidien LP, the developer and promoter of radiofrequency vein ablation, has agreed to pay $17,477,947 to resolve allegations that it violated the False Claims Act by providing free or discounted practice development and market development support to physicians located in California and Florida to induce purchases of Covidien’s vein ablation
A federal judge in Boston accepted a plea deal from Medtronic neurovascular subsidiary ev3 in an off-label marketing case, according to court documents released at the end of January. U.S. Magistrate Judge Judith Dein granted the motion, which included the forfeiture of $6 million and an additional $11.9 million in
Medtronic has agreed to pay the U.S. Department of Justice $50.9 million to resolve three claims against Covidien and ev3, two companies Medtronic acquired in 2015. One payment is for $13 million and settles the DOJ’s investigation of the STRATIS Registry, which was designed to assess clinical outcomes of Covidien’s