The FDA has announced the Medical Device Innovation Consortium (MDIC) which aims to help medical device companies get their products to market faster. See FDA, Private Groups Team Up to Speed Device Approval.
The term Regulatory Science is used 12 times on the single page MDIC Web site so it must be important. The FDA has been using regulator science in other health related areas since early 2010: see Advancing Regulatory Science.
This consortium is part of a much broader strategy (see the strategic plan) to improve both innovation and safety in FDA-regulated products. The MDIC site talks about subcommittees and projects but it's unclear what specific medical device topics will be addressed. It will be interesting to follow their growth and progress.