Category: Orthopedics
MFS Investment Management, which invented the mutual fund, adds 7 million shares to its stake in St. Jude Medical, taking its share to 10% of the medical device maker; also, Smith & Nephew's Bioventus ortho-biologics JV fledges, Kalypto deal closes; Kerberos Proximal Solutions puts Rinspiration on the auction block; NeuroLogica helps develop 1st mobile stroke ambulance; Xtend Medical gets into the entertainment game; plus, a Funding Roundup and analysts' ups and downs.
St. Jude Medical's (NYSE:STJ) largest investor boosted its stake by more than 30%, to some 27.2 million shares, or about 10% of the medical device maker.
The FDA warns Extremity Medical for failure to report device malfunctions, insufficient product surveillance and mis-branded surgical screws that aren't agency-approved for marketing in the U.S.
The FDA filed a formal warning against New Jersey-based orthopedics maker Extremity Medical for failures in device surveillance and malfunction reporting.
The federal watchdog agency noted 2 instances of device malfunction "that may have caused or contributed to a death or serious injury" and which were not reported to the FDA within the 30-day window.
Extremity filed a response but it was not reviewed because it was not received within 15 days of the FDA's initial inspection report, according to the warning letter.
Investors sent shares of Zimmer (NYSE:ZMH) down 5% this morning in pre-market trading after the orthopedic device maker reported sales and earnings in-line with Wall Street's expectations, but lackluster sales of hip and knee implants.
Zimmer Holdings shares slide 5% ahead of its 1st-quarter results showing Street-meeting earnings but lackluster sales of hip and knee implants.
Investors sent shares of Zimmer (NYSE:ZMH) down 5% this morning in pre-market trading after the orthopedic device maker reported sales and earnings in-line with Wall Street's expectations, but lackluster sales of hip and knee implants.
The Warsaw, Ind.-based company posted profits of $209.6 million, or $1.17 per diluted share, on sales of $1.14 billion for the 3 months ended March 31.
The European Commission clears Johnson & Johnson's $21.3 billion buyout of orthopedics giant Synthes after J&J agrees to ditch its DePuy trauma operation to Biomet; also, Intuitive Surgical CEO Guthart practices the Buffett rule; Biolase exits Henry Schein deal; SeraCare shareholders OK $81M Linden Capital buyout; Visium boosts stake in Syneron; Derma Sciences closes MedEfficiency buyout; plus, a Funding Roundup and analysts' ups and downs.
Johnson & Johnson's (NYSE:JNJ) move to ditch its DePuy trauma business mollified EuroZone anti-trust regulators enough to win their approval for its $21.3 billion buyout of Synthes Inc.
Investors add 1% to Stryker Corp. shares after the orthopedic device maker's 1st-quarter sales beat expectations and earnings fall in line with Wall Street's forecasts.
Investors added about 1% to shares of Stryker (NYSE:SYK) today after the orthopedic device maker's 1st-quarter sales beat Wall Street's expectations and its earnings meet consensus forecasts.
Kalamazoo, Mich.-based Stryker posted profits of $350 million, or 91¢ per diluted share, on sales of $2.16 billion for the 3 months ended March 31, for a bottom-line gain of 14.0% and top-line growth of 7.2%.
DePuy ASR recall takes $271M from J&J's Q1 bottom line, St. Jude slumps along with its CRM sales and Abbott's Q1 device sales slump on Boston Scientific stent royalty losses.
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