Former Stimwave CEO defrauded investors out of $41M; Philips recalls MRI system due to explosions

Welcome to the MassDevice Fast Five medtech news podcast, the show that keeps you up-to-date on the latest breakthroughs in medical technology. Here’s what you need to know for today, December 22, 2023. Check out the show notes for links to the stories we discussed today at MassDevice.com/podcast. Insulet has applauded guidance from NICE on hybrid closed loop insulin delivery systems. Fast Five hosts Sean Whooley and Danielle Kirsh talk about what the guidance recommended and why it is important for Insulet. J&J's Acclarent won an FDA nod for its pediatric ear tube balloon dilation system ahead of its acquisition by Integra Lifesciences. Hear what the balloon dilation system is and what the company designed it for exactly. ResMed is warning on updates to sleep therapy masks with magnets. Learn about the warning, which masks are affected and what it recommends users do. Philips recalled some MRI systems due to the risk of explosion. Whooley shares the issue with the systems and what Philips is doing to rectify the problem. The Securities and Exchange Commission alleged that the former Stimwave CEO defrauded investors out of $41 million with a fake neuromodulation implant. The Fast Five hosts talk about what the SEC is alleging and what the agency is looking for in terms of injunctions.