Here are 20 news updates on gastroenterology and endoscopy company activity in the first half of this year.
1. Boston Scientific received FDA 510(k) clearance for its SpyGlass DS Direct Visualization System. The system is cleared for use in the diagnosis and treatment of pancreatico-biliary disease.
2. Boston Scientific signed a definitive agreement to acquire Xlumena, a device company that focuses on the development, manufacture and sale of minimally invasive devices for endoscopic ultrasound. Boston Scientific will pay $62.5 million upfront and an additional $12.5 million when the HOT AXIOS system receives FDA clearance.
3. EndoChoice named Scott Huennekens its chairman of the board.
4. EndoChoice closed its initial public offer and raised $94.9 million.
5. EndoChoice completed the refinancing of its outstanding debt. The company closed on a $58 million senior secured credit facility with Midcap Financial and Silicon Valley Bank.
6. Exact Sciences and Mayo Clinic, based in Rochester, Minn., announced a five-year extension and expansion of their collaboration. The new agreement focuses on Exact Sciences' relationship with Mayo Clinic gastroenterologist and co-inventor of Cologuard David Ahlquist, MD.
7. The Wisconsin Economic Development Corp. offered Madison, Wis.-based Exact Sciences $9 million in tax credits if the company creates at least 750 jobs and capital investment of $26 million by 2020.
8. Skiff Medical Center in Newton, Iowa, purchased new technology to update its endoscopy suite. The medical center purchased FUJIFILM technology.
9. Medigus was listed and began trading American depository receipts on the NASDAQ Capital Market under the ticker symbol MDGS.
10. Norgine and Arc Medical Design partnered to distribute the ENDOCUFF VISION device. The ENDOCUFF VISION is a single-use, sterile endoscopic overtube designed to improve extubation and visualization during colonoscopy.
11. Seven patients were infected with carbapenem-resistant Enterobacteriaceae after undergoing ERCP at UCLA Ronald Reagan Medical Center in Los Angeles. Olympus, the manufacturer of the scopes used in these cases, now faces lawsuits from five of these patients.
12. In letters dated March 26, Olympus sent updated, validated manual reprocessing instructions for its TJF-Q180V duodenoscopes. The FDA reviewed the new reprocessing instructions and validation data as part of the ongoing review of the scopes 510(k) process.
13. Olympus launched a new guarantee program for its surgical business that will provide next-day replacements for surgical equipment at no additional charge.
14. PENTAX Medical named David Woods, previously the company's president of the Americas, its new chief marketing officer, effective April 1. Christopher Burton will succeed Mr. Woods as the company's president of the Americas.
15. Hoya Group PENTAX Medical launched its Splash M-Knife, designed for endoscopic submucosal dissection.
16. Physicians Endoscopy and four gastroenterologist partners officially opened the Greater Gaston Endoscopy Center in Gastonia, N.C.
17. Physicians Endoscopy acquired a majority interest in the Philadelphia Gastroenterology Consultants Endoscopy Center of Excellence.
18. Physicians Endoscopy acquired the Endoscopy Center of West Central Ohio in Lima. On April 1, Physicians Endoscopy and Gastro-Intestinal Associates finalized the joint venture.
19. Physicians Endoscopy acquired a minority interest in Garden State Endoscopy Center in Kenilworth, N.J. The company now has 40 centers.
20. US Endoscopy released its Histolock Resection Device. The device has a stiff monofilament wire. It is designed to resect flat lesions during difficult polypectomy procedures, such as endoscopic mucosal resection,