I dug a little bit on the internet and found myself back in the Cove!
"Medical Grade" is a loose definition. Apparently it refers to testing to USP Class VI, which is not the same thing as the battery of ISO 10993 test which may be required.
http://elsmar.com/Forums/showthread.php?t=16152
That makes sense to me, since "medical grade" can take on different meanings depending on on whether the device has skin contact, bone contact, blood contact, etc and correspondingly the required ISO 10993 tests are different.
So the short answer is "no" they are not the same thing.
As far as how you proceed, I cannot say what is best for you. What happened to us is we got a deficiency letter because we had not demonstrated biocompatibility in our 510(k). Rather than spend the $10,000 or whatever to get it done, we simply added a caution in the labeling to wear clothing. You can try submitting it and see what happens. If you get a deficiency letter you can add the caution. Maybe in the future if you submit a modification you can change your polymer to one where the supplier has done the testing and can give you a datasheet.