Innovation, influence and business in America's medical cities.

Mobile cardiac monitoring firm CardioNet Inc. logs a win in a shareholder lawsuit accusing it, its CEO and CFO of misleading investors over its prospects for high Medicare reimbursement.CardioNet Inc. (NSDQ:BEAT) won a lawsuit filed against it by shareholders last year, accusing the mobile cardiac monitoring firm of misleading investors about Medicare reimbursement.Judge Stewart Dalzell [...]

Boston Heart Lab Corp. completes a $10 million equity and options-based funding round.Boston Heart Lab Corp. closed a $10 million funding round, according to a Securities & Exchange Commission filing.The Framingham, Mass.-based heart disease tests began the sale of equity and options July 26.According to thefiling, a total of 46 investors were involved in the [...]

A shareholder of struggling Angeion Corp. (Nasdaq: ANGN) blasted the company for poor performance and seeks to rally other shareholders in an effort to oust the Minnesota device company’s board.Danville, California-based BlueLine Partners, which owns 7.2 percent of Angeion’s outstanding shares, is attempting to gather signatures from other shareholders in an effort to remove all [...]

CareFusion Corp. (NYSE:CFN) posted bottom-line declines for both the fourth quarter and its first year as a public company, prompting the medical device maker to slash its workforce by 4.7 percent despite positive top-line growth.San Diego-based CareFusion reported profits of $52 million, or 23 cents per diluted share, on sales of [...]

Nearly four years after the Food & Drug Administration warned Boston Scientific Corp. (NYSE: BSX) that it was on thin ice, the medical device maker says the federal watchdog agency granted absolution on all issues raised in a 2006 warning letter.In January of that year, the FDA sent then-CEO James Tobin [...]

Zeo Inc. raised $1 million of a proposed $1.5 million debt financing round.The company, formerly known as Axon Labs, opened the round July 30, with three investors participating, according to a Securities & Exchange Commission filing.The filing lists board members Ronald Chwang of iD Ventures America, Peter Meekin of Trident Capital [...]

Every week MedCity News highlights the best of its MedCitizens: syndication partners and MedCity News readers who also contribute to MedCityNews.com. This week, you asked whether Republicans caused obesity, whether the MinuteClinic’s time had come, the future of 510(k) and more.

Expanded earnings filings with the Securities and Exchange Commission show Boston Scientific Corp. trimming estimates of lost sales by $200 million.Officials at Boston Scientific Corp. (NYSE:BSX) revealed that a snafu with the U.S. Food & Drug Administration, which led to a month-long suspension of ICD sales last spring will cost the company $300 million in [...]

The Centers for Devices and Radiological Health released a list of “best practices” for medical device companies performing animal studies as a precursor to human trials.The purpose of the report, which has been in the works for some time, is to “provide a reference of best practices for the approach, conduct, [...]

The shareholders of cardiovascular technology firm ATS Medical (NASDAQ: ATSI) voted in favor of the company’s $370 million sale to neighboring device giant Medtronic Inc. (NYSE: MDT).About 79 percent of the company’s outstanding shares were voted, with about 95 percent of those in approval of the $4-per-share deal, according to a statement from Plymouth, Minnesota-based [...]