Originally Published MX November/December 2004
BUSINESS NEWS
Uncertain PerformanceA recent report by the Government Accountability Office says that limited data will make it difficult to determine whether FDA will meet its performance goals under the Medical Device User Fee and Modernization Act of 2002. The report is available on-line at www.gao.gov/cgi-bin/getrpt?gao-04-1022.
Citing increasingly challenging business conditions in the sector, St. Jude Medical (St. Paul, MN) will discontinue its Symmetry bypass system aortic connector product line, effective December 31, 2004.
Afferent Corp. (Providence, RI), an early-stage medical device company focused on treating chronic neurological dysfunction, has secured more than $2.2 million in research grants from the National Institutes of Health and has raised $4 million in Series A financing.
New Science Ventures (New York City) led the funding round.
The Restore Access to Mobility Partnership (RAMP), a coalition of powered wheelchair manufacturers, says that industry and the Centers for Medicare and Medicaid Services have made progress toward new pricing codes for powered wheelchairs.
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