As taxes on medical device and drug companies continue to increase, many are finding loopholes to avoid paying. President Barack Obama recently had choice words for these companies, which now include orthopedic and spine market giant Medtronic.
Spinal Tech
The global orthopedic trauma fixation devices market is expected to grow to $9.3 billion by 2020, according to a Transparency Market Research report.
Nextremity Solutions, a Warsaw, Ind.-based orthopedic device company focused on small bone implants, was recognized as on of the "2014 Indiana Companies to Watch."
K2M reported a short interest increase during July, according to a Mideast Times report.
NuVasive reported total revenue in the second quarter of 2014 increased 15.1 percent to $190.7 million, making it the third-largest company in the global spine market.
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The global medical robots market is expected to reach $3.7 billion by 2018, according to a MarketsandMarkets report.
Intellijoint Surgical has obtained clearance from the U.S. Food and Drug Administration for its flagship product — Intellijoint HIP.
Medtronic completed its acquisition of Visualase, a Houston-based company that markets and develops an MRI-guided laser and image guided system for minimally invasive neurosurgeries.
Exactech reported a 6 percent increase in second quarter revenue, which reached $63.9 million.
The FDA granted Medtronic approval for the Prestige LP Cervical Disc System to treat single-level cervical disc disease.