latest comment at the never ending “People of the Eye” blog thread Sonova’s Shares Shake and AG Bell Quakes or Rattles and Rolls?
(ADDED at bottom of this entry – a comment that Dan S posted in the Sonova’s Shares Shake thread in addition to the Breaking News comment he posted too just in case folks want to see it and not have to scroll down past the 450 + comments there – i know it loads wickedly slow. His other comment is important and has some links that might be informative)
BREAKING NEWS: Advanced Bionics lays off
150100 + employees in the wake of the FDA Recall, including longtime field support staff. Details to be posted as they become available
11:15 PM January 14, 2011
UPDATE 1: We have received additional reports after the first one received Friday 11:00PM that the number of layoffs is “slightly over 100.”
There is an UPDATE 2 at www.thehearingblog.com about an Advanced Bionics audiologist dissing the editor of that site and saying his claim of the layoffs is “absolutely false” and some other crash crap.
The editor Dan Schwartz has kinda been attacked by a commenter and now an audiologist. Fun fun fun. Aint free speech grand!? Dan’s response is: wow wee if Sovona is lying and covering up these layoffs – ohhhh are they in trouble with the Zurich Exchange
so its a bit of a drama there folks. Not sure what is what but we will see see – shall we?
UPDATE MORE: Wall Street Journal just confirmed that job cuts are happening at Advanced Bionics as a result of the CI recall
go to The Hearing Blog http://thehearingblog.com/ to see the full update and for more past information with primary documents and live links about the most recent recall of Sovona Advance Bionic’s HiRes 90K due to failing hot
Advanced Bionics (a US based Cochlear Implant co.) has had a rocky history and been shuffled around to various companies with various key players.
Advanced Bionics has had SEVERAL recalls and a past lawsuit on behalf of the FDA which resulted in Advanced Bionics being fined over one million dollars and their CEO $75,000 due to their CI having a sealant leak resulting in shocks (see link below)
It also produced a CI with a positioner which contributed to some meningitis cases post surgery resulting in serious illnesses, complications, and deaths (see link below)
Before Thanksgiving Sovona (the current owner of Advanced Bionics) released a press notice to business outlets alerting them to the most recent recall in an attempt to allay fears and not see shares be affected – to no avail.
See Wall Street Journal Sonova Shares Tumble on Hearing Implant Recall
See 2008 Lawsuit article New York law firm Weitz & Luxenberg files suit against bionic ear manufacturer
Now the latest news is Advanced Bionics is laying off
150 100 employees?
A person very familiar with recalls, prosthesis industries, safety, reliability and lawsuits once told me “if a hip replacement or pacemaker company had as many problems as Advanced Bionics has had, they would be CLOSED DOWN BY NOW.”
Stay tune folks.
We shall see what we shall see.
Dan S. thanks for the comment with the latest breaking news and for covering this very important situation.
ADDED (copied and pasted from the Sonvona Share’s thread)
I’m Dan Schwartz, Editor of The Hearing Blog and author of Failing Ugly: Advanced Bionics cochlear implant circuit goes haywire and
Failing Ugly II: More on the Advanced Bionics Recall, and I’d like to bring all of you up to date on our investigation of the Advanced Bionics HiRes-90k implanted electronics module failures.
Right now, just bits and pieces are trickling in, as AB has pretty much gone into lockdown. However, one piece of manufacturing information has been divulged that is absolutely stunning: The lack of any completed unit burn-in.
What is burn-in, why is it important; and most saliently, how it could have prevented this recall.
Since my third article in the series is “in the typewriter” I’m going to be lazy tonight and simply give you the wikipedia article on burn-in, as it’s pretty close:
Also, the article references a “bathtub curve” article which has a flaw:
The red “infant mortality” curve is correct, as is the yellow “wear out failures” at the end of the service life. However, the area in the middle is third should be much longer, as infant mortality is a matter of a week or two; and wear out is measured in years, even decades for CI implant electronics.
I’ll post here when the third article in the series is published.
Also, to the blogger who runs this site, please contact me either by leaving a comment on The Hearing Blog or via email at Dan at Snip period Net