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AN IRISH MEDTECH firm that treats stroke patients has been bought by a subsidiary of pharmaceutical colossus Johnson & Johnson.
It was announced today that Galway-based Neuravi has been bought by DePuy Ireland, an affiliate of J&J’s neurosurgery firm, Codman Neuro.
The price tag for the buyout has not been disclosed, although it has been reported in the Irish Times that the deal could be worth hundreds of millions of euro.
Founded in 2009, Neuravi makes a medical device that is used to retrieve clots following a stroke and restore blood flow to the brain.
The firm’s EmboTrap device is used in the treatment of acute ischemic strokes, which are caused by blockages in vessels supplying blood to the brain and accounts for the vast majority of all strokes.
“Rapid restoration of flow is of utmost importance when treating stroke patients,” said Shlomi Nachman, chairman of J&J’s medical devices unit.
He said the EmboTrap was “designed to address this critical need” and said pooling Neuravi’s research with Codman Neuro would speed up ”innovation in acute ischemic stroke treatment”.
FDA submission
J&J’s Codman Neuro last year acquired another medtech firm, Pulsar Vascular, which makes a technology to treat complex brain aneurysms.
Neuravi’s device is already commercially available in Europe and has been used to treat more than 3,000 patients throughout the continent.
It is available in the US for investigation purposes only. The firm is planning to make a submission to the American Food and Drug Administration later this year.
Neuravi was founded by Eamon Brady, David Vale and John O’Shaughnessy and has raised more than €25 million in funding.
The trio were executives at another Galway-based medical device firm called MedNova, which was bought by Abbott Laboratories in 2005.
Neuravi Ltd reported a loss of more than €7 million in the financial year ended 31 December 2015. Accumulated losses snowballed to more than €15.5 million during the 12-month period.
According to the World Heart Foundation, 15 million people suffer a stroke every year. It is the second leading cause of death for people over the age of 60.
In the US alone, the economic burden of stroke is estimated to be $33 billion annually, including the cost of healthcare, medications and lost productivity, according to the Centres for Disease Control.
Written by Conor McMahon and posted on Fora.ie
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Shane Ross…Another George Lee
@James Fox: pretty simple really, and he knows that.
The judge in question is a former member of the oireachtas. The golf society organising the outing has in its members current and former oireachtas members. Any member of the society who paid the 140 euro had a valid reason to be there, leaving aside the covid issue.
Ross knows all that, but he likes his publicity.
@John Mulligan: Seamus Woulfe was not a member of the Oireachtas (TD or Senator)….he was AG which is a position in the government.
@John Mulligan: “The judge in question is a former member of the oireachtas” – no, he has never been a member of the Oireachtas.
@Earth Traveller: If he was a member of the Oireachtas perhaps you could remind us which constituency he was elected to represent?
A man who judges others for a living who clearly has no ability to judge his actions
@William Bryan: maybe the judge was just there to pop up in the background of a photo op?
Oh, no wait, ……
@William Bryan: or perhaps judged the virus not to be of significant concern to him?
Part and parcel of how things have been run in Ireland.. Sure its not first and won’t be last time. That judges, politicians and bankers party together. They will just do it in secrecy going forward…
@LITTLEONE: all at their private members clubs too. The more secretive club The Kildare Street club is where you’ll find the judges
@Anna Anna: Any club which charges a membership fee is a Private Members Club. I used to be a member of a Div 2 Rugby club. The bar was reserved for members and guests. It was (and is!) a Private Members Club.
@LITTLEONE: There are literally thousands of private members clubs in Ireland. Most are sporting organisations and usually anyone can join. Your problem seems to be with the fact that certain private clubs require significant means in order to be able to join. The right of private association is constitutionally protected.
The separation of powers in respect of Judges only relates to the exercise of their judicial functions which they discharge without fear or favour as we can witness in recent judgements. There is no requirement for politicians and members of the judiciary to isolate themselves from other in perpetuity. Nor would it be desirable. This is a free society. People should be free to mix at all levels. At least we don’t have the army council running things.
Jealous much Shane… No picture opportunity for you..
Feeling left out Shane , click click
Lol! Shane Ross trying to reinvent himself in some political version of a Madonna like transformation, into the anti establishment outsider questioning the activities of the ruling elite!
While his face is still wet from the feeding trough, in which he had his head firmly stuck beside them all for the last few years…this is not journalism, its comedy at it’s finest!
He’s right but it’s just difficult to accept coming from a former Minister for Sport whose funding priorities were to gift €2.9m to plush golf clubs last year under pressure from requests from his party colleagues, gifting cash to private schools and Wes’ hockey pitch, dishing money out to lawn tennis clubs while struggling soccer clubs in some areas were trying to buy a lawnmower. He’s part of this “set”. It’s difficult to take his faux outrage seriously when he rubs shoulders with the other untouchables.
The pot and kettle come to mind here
Shane Ross has made a career out of seeking reform for the politically biased way judges are appointed in this country and yet in the moment when he was in power as a minister he did absolutely nothing to prevent the cronyism involved in appointing Máire Whelan to the court of appeal.
@Rochelle: hear hear. Maire Whelan in return for a Garda Station
‘is behaving as might have been expected by many judges with the profession’s sense of entitlement, a detachment from reality and an elitist outlook.’ .Just substitute the word judge for the word politician , it works !
Just part of the Irish cartel. I’m not surprised he was there
@Shaun Gallagher: he was hiding in the 18th hole, ready to pop up for a photo.
Were are never supposed to know.
Brian Hayes and his guests?
We ain’t supposed to know.
Move along
Nobody cares what Shane Ross has to say anymore.
@Ian O Hara: or ever did
@Colm Lawlor: Or ever will.
Not a word mentioned by Shane Ross (Former Minister for Transport) about Phil Hogan being caught on the Phone while driving.
The veils are dropping for the public to see the reality.
Politicians, media figures and judges. A cosy little cartel. Are you trying to say these type of functions didn’t happen while you were part of the last government? Pull the other one Shane.
It was very good of Shane Ross to write this Shane Ross article for the benefit of Shane Ross and to try and point out why Shane Ross was right.
That’s the big issue back in my home country, Poland . Current government is trying put a way of making judges account for they doings and take out all unnecessary privlages … Yet we been called by whole eu as we are not rule of law country anymore… Its an issue in whole world now. Elytarism is fighting to keep in they better class people
@michal heba: No, that is not what is happening in Poland. Your government wants to control “troublesome” members of the judiciary who are not willing to follow their line. Your government has no interest in or respect for civil rights.
@Diarmaid Mac Aonghusa:
And again the Irish populus knows better what is happening in Poland while their own politically appointed judgues, polititians and leaders have no understanding of their own policies and regulations…?
@michal heba: Rubbish. In Poland the populist right wing arch-Catholic Government is trying to control the judiciary as well as ostracise and denigrate members of the gay community and anyone who does not agree with their particular narrative. That is not happening in Ireland and to conflate the two issues is preposterous. The separation of powers has nor been breached in Ireland. Judges here routinely find against the Government and are being threatened with the sack for doing so or being accused of being members of the opposition party.
Boom Shane Ross is back baby! Great hurling from the ditch, dropping bombs of criticism and shouts for accountability, what a man. I remember when he last played this part of lip service in the Sindo every week, imagine if he got into the halls of power surely he would be a reformatory caped crusader in government and referee from the pitch not just shouting from the sidelines….. no way, what did he achieve other than photo bombing victorious sports stars at a ratio only bettered by Indah Kinny. Not that Ross is incorrect in this op ed, it is just a familiar return to his shouting from the sidelines, and I think his words are even more hollow and disingenuous than his last stint as what really amounts to a gossip columnist spouting hot air.
@Martin: Ross is incorrect in his OpEd. As he is in most things.
Bankers Judges and Politicians should not be this close, corruption is systemic in this generation of FFG…
Next up is tribunals like Moriarty that all these guys cooked up to suit..
“Power Corrupts and Absolute Power corrupts Absolutely “ – Lord Acton.
We have a system that has been highlighted to be deeply flawed. Look at the GRECO report on Irish judiciary.
@Chancer freelancer journal: No. tell us what it said. Did it criticise their independence? Irish judges are clearly independent and are seen internationally as independent.
Shane Ross is asking a VERY good question.
Shane, can you not just retire – the time for your bombastic comments is now well and truly over … time to get out of the saddle and off your high horse!
An A banker
Shane Who?
Says the man who questioned nothing as a tad and only interested in penalizing the public.
You are not gone that long from your cosy spot having destroyed the culture in rural Ireland
What on Earth was Shane Ross doing as a minister? that’s an even harder question to answer!!!
Why was Sean ORourke at it. Was it a thank you for easy interviews or sticking to a certain agenda on his programs with regard to the elite. I doubt Jon Snow or Jeremy Paxman would do the same, but hey this is Ireland, its all a big click, dont tell the little people.
Egg in the nest ROSS
The really amazing thing here is an Irish politician ‘falling on his sword” – that is the most rare of species.
The real question is what was an attention seeking inept individual like Shane Ross doing in government?
Why? Seriously, why do we still have to listen to Shane Ross??
Playing golf and having pints. Clearly
What on earth was Shane Ross doing as Transport Minister while he held the portfolio, could just as easily be the headline and article here.
What on earth is Shane Ross doing writing on this for the Journal
Ah your just jealous that you weren’t there for the group photo
The really amazing thing here is an Irish politician ‘falling on his sword” – that is the most rare of species. An if Hogan gets away with it, the most short lived and endangered of them all.
Like you never stuck yourself somewhere you shouldn’t have been. Muppet
Maybe Shane Ross should stay out of it
Given that it followed sporting event, I think Shane Ross is annoyed that he wasn’t pictured with the winner.
Back to writing Opinion pieces for Newspapers, Shane well I’m not interested in your Opinion, never will read what you have to say.
When’s is the last time an overseas judge was hired? Never (not in the click)
I think Shane Ross is upset that he didn’t get an invite, poor baby
Judges should not be socialising with politicians However, as long as they are politically appointed that will be the case.
All Judges are appointed to their positions by what ever political party
is in Government, then we have the farcil spectacle that there is the
separation of powers, there is not, and to subsequently to rely on the
doctrine that the Justice System is independent is nothing short of
ridiculous, the Cliften spectacle has finally exposed what really goes
on behind the backs of the Citizens of this Republic, it is just the tip
of the iceberg on the way Ireland has been run, could we please have
Mr Woulfe’s resignation, and never mind the smoke screen of a
inquiry by Susan Denham, she has no legal investigative powers, only
the Civil Power has and that is the Guards, and are they not already
investigating the Cliften incident.
Having a privileges good time Shane
You know what? There’s much too much of a ‘kick Shane Ross’ party going on here. So I’m going to start reserving judgement on him.
I don’t care who or what it is but if Shane Ross is against, I’m for!
Another thought? What was that clown Ross ever doing in politics. What did he ever do for those who voted for him?. The pot and the kettle springs to mind?
Eating dinner?
I think its time to start ignoring Mr Ross
He is turning out like the other 2 “journalists ”
Gemma and John
The electorate gave their verdict on”shane” even after he got the phantom Garda Stn reopened…enough…time for him to go back to be a newspaper hack..spouting about how to “do it” he got his shot at it …too many “spouting” little achieved..say goodnight shane…
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