Marlborough, Mass.-based medical device company Boston Scientific is 1 of the Emerald Isle’s largest employers, with a 4,500-employee workforce there.
BSX’s Irish operations reported revenues of $5.37 billion for the 12 months ended Dec. 31, according to the newspaper, up 2% compared with 2011. The pre-tax profit increase represents 272% growth over the prior year, the Times reported.
BSX logged a net loss of $725 million, or 52¢ per share, on sales of $1.74 billion for the 3 months ended Sept. 30. That represents a 7.4% top-line slide. Adjusted EPS were 16¢, just topping the 15¢ consensus on Wall Street.
Warburg Pincus tapped Goldman Sachs to broker the deal, according to the magazine, citing "2 two people with knowledge of the matter."
Warburg Pincus bought the Rochester, N.Y.-based company for $3.7 billion in September 2007 after a damaging recall of 1 of its contact lens solutions.
Harvard Bioscience gains 15% on subsidiary’s spinout
Harvard Bioscience shares are up more than 15% today after the company announced the planned spinout of its Harvard Apparatus Regenerative Technology unit.
HBIO shares were trading at $4.34 apiece as of about 1:50 p.m. today, up 14.6%.
sBioMed seeks $5M in private placement
SBioMed, the sterilization product maker led by former Stryker CEO Stephen MacMillan, is seeking to raise $5 million in a private placement, MacMillan told MassDevice.com in an email.
MacMillan said the placement includes "many" current investors and "strong interest" from other backers in the medical industry.
"The opportunities in front of us are almost endless, from both a product and market perspective, so a clear short-term goal is prioritizing sales and product development needs. The near-term sales opportunities are very large just within hospital and healthcare facilities generally, but we’re also seeing a big opportunity within pharmaceutical and clean room manufacturing, as Steriplex is stronger and much ‘greener’ and less toxic than currently available products. A sporicidal disinfectant without [volatile organic compounds] is a clear winner," he told us.
- Innovative Trauma Care raises nearly $4M in Series A round
- Grove Instruments oversubscribes 1st tranche of Series B round
- BioCision brings in nearly $3M
- DNA Medicine Institute lands $1M NIH grant
- Abbott (NYSE:ABT): JP Morgan reiterates “neutral” rating, $72 price target; Morgan Stanley reiterates "equal-weight" rating.
- Align Technology (NSDQ:ALGN): Goldman Sachs initiates coverage at “neutral” rating, $28 price target.
- Baxter (NYSE:BAX): Leerink Swann reiterates "outperform" rating, $74 price target.
- Cynosure (NSDQ:CYNO): Leerink Swann maintains "outperform" rating, $31 price target.
- Edwards Lifesciences (NYSE:EW): Leerink Swann reiterates “outperform” rating, $100 price target.
- Hill-Rom (NYSE:HRC): Goldman Sachs upgrades from “neutral” to “buy” rating, raises price target from $30 to $39.
- Hospira (NYSE:HSP): Goldman Sachs downgrades from “neutral” to “sell” rating.
- Intuitive Surgical (NSDQ:ISRG): Cantor Fitzgerald maintains “hold” rating, raises price target from $475 to $525.
- NuVasive Inc. (NSDQ:NUVA): Leerink Swann maintains "market perform" rating, $16 price target.
- Smith & Nephew (FTSE:SN, NYSE:SNN): Investec raises from “hold” to “buy” rating.
- Spectranetics (NSDQ:SPNC): Benchmark Co. reiterates "buy" rating, $7 price target.
- Stryker (NYSE:SYK): Bank of America Merrill Lynch reiterates "buy" rating, raises price target from $57 to $67; Goldman Sachs raises from "neutral" to "buy" rating, raises price target from $55 to $68.
- Teleflex (NYSE:TFX): Leerink Swann maintains "market perform" rating, ~$72 price target.
- Varian Medical (NYSE:VAR): Cantor Fitzgerald reiterates "hold" rating, raises price target from $63 to $70.
- Volcano (NSDQ:VOLC): Credit Suisse Group downgrades from "outperform" to "neutral" rating, lowers price target from $32 to $27; Leerink Swann reiterates "outperform" rating, $32 price target.
- Zimmer (NYSE:ZMH): Goldman Sachs upgrades from “sell” to “neutral” rating, raises price target from $58 to $70.