The FDA awarded 510(k) clearance to a couple of medtech companies this week while others received tax breaks and incentives, including a local tax break for a $154 million Stryker R&D facility planned in Michigan. Here are some medtech stories we missed this week but thought were worth mentioning.
1. FirstRay wins FDA 510(k) clearance for extended Stealth staple line
FirstRay announced that it received FDA clearance for new additions to its Stealth Staple System product line, according to a March 15 news release. The company already had clearance for its standard size implants that were made from titanium alloy. The new clearance covers standard size implants manufactured from PEEK, small implants manufactured from titanium alloy and PEEK and Mini size implants made from titanium alloy.
2. CorVascular inks distribution deal with Novarix for IV-eye
CorVascular Diagnostics, a company that designs and distributes advanced peripheral vascular diagnostic solutions, announced this week that it has reached a distribution deal with Novarix, a company that makes innovative medical devices in Intravenous therapy, according to a March 15 news release. The Novarix-developed IV-eye is a near infrared vein imaging device that helps healthcare professionals find good veins for cannulation and venipuncture. CorVascular will market it IV-eye to national and large regional distributors and will introduce it to resellers in the healthcare segments in the U.S. markets.
3. Stryker wins tax break for $154M Michigan facility
Stryker Instruments announced that it has won a tax break from Portage, Mich., for its research and development facility plans in the city. Construction could begin as early as May, according to a March 15 news release. The facility is estimated to cost $154 million and be 485,000 sq. feet. The Portage City Council unanimously approved the tax break on March 14. The discount on the building will take effect upon completion in 2019.