ResMed (NYSE:RMD) said today that it closed the $750 million acquisition of MatrixCare and its post-acute-care software. The San Diego-based respiratory care giant said it funded the buyout, which represents a 25x EBITDA multiple, using its credit facility. Bloomington, Minn.-based MatrixCare put up sales of $122 million last year, ResMed said. “We’re all excited to have quickly closed this important […]
Wall Street Beat
Losses widen in Q3 for DJO Global
DJO Global‘s third-quarter losses widened on low-single-digit sales growth as the orthopedics company nears the end of a second year of restructuring. San Diego-based DJO, which is privately held, posted losses of -$29.5 million on sales of $294.1 million for the three months ended Sept. 29, marking a red ink expansion of 30.0% on sales […]
NeoChord raises $21m
NeoChord has raised $20.6 million in a new round of equity financing, according to a recently posted SEC filing. The St. Louis Park, Minn.-based company offered Series D preferred stock in the round, with the first sale noted on October 31, according to the filing. A total of 27 anonymous investors have joined in the […]
BTG invests $20m in Veran Medical’s thoracic guidance tech
BTG (LON:BTG) said this week that it invested $20 million in Veran Medical Technologies and its thoracic navigation system. Veran’s thoracic navigation system is designed to help lung specialists diagnose lung cancer earlier, enabling a smooth transition between an endobronchial and transthoracic approach. The technology is also used to localize and mark lung nodules in […]
Vapotherm prices $56m IPO
Vapotherm yesterday priced an initial public offering, aiming to raise $56 million for its respiratory device. Exeter, N.H.-based Vapotherm developed the Precision Flow line of devices to provide high-velocity heated, humidified and oxygenated air to treat patients with conditions such as pneumonia, chronic obstructive pulmonary disease, asthma and heart failure. Some 1,200 of the devices have […]
Xeris Pharmaceuticals touts data for glucagon auto-injector
Xeris Pharmaceuticals (NSDQ:XERS) touted data this month for its ready-to-use glucagon auto-injector, highlighting the device’s efficacy and usability. The Chicago-based company’s rescue pen is under review for approval by the FDA as a treatment for severe hypoglycemia in people with diabetes. Get the full story at our sister site, Drug Delivery Business News.
Valeritas inks Middle East distro deal for V-Go insulin delivery device
Valeritas (NSDQ:VLRX) said today that it signed an exclusive distribution deal with Julphar for the commercialization of its V-Go wearable insulin delivery device in the member states of the Gulf Cooperation Council. Valeritas has deals in place to bring its V-Go device to 14 countries and territories, including Australia, Slovenia and Puerto Rico. The company is […]
Abiomed shares slide despite Impella CP trial success
Abiomed (NSDQ:ABMD) shares fell approximately 13.1% yesterday despite the company announcing positive results from a pilot trial of its Impella CP heart pump that will clear the way for a pivotal that could nearly double the device’s total addressable market. The company announced on Sunday that a pilot study of its Impella CP, used to […]
Report: GE could put more of GE Healthcare on the table in spin out, IPO
General Electric (NYSE:GE) may be looking to put more of its healthcare business on the table in a planned upcoming spin-off and initial public offering, growing from a previous announcement of 20% to as much as 49.9% of the division, according to a Boston Business Journal report. CEO Larry Culp reportedly made remarks suggesting that an […]
Philips launches below-the-knee PAD trial for drug-coated balloon
Philips (NYSE:PHG) said yesterday that it enrolled the first patient in a U.S. investigational device exemption trial for its Stellarex drug-coated balloon. The 354-patient Illumenate Below-the-Knee study is designed to assess the device’s safety and effectiveness compared to percutaneous transluminal angioplasty in people with critical limb ischemia. Get the full story at our sister site, Drug […]
Nemaura develops predictive algorithms for continuous glucose monitor
Nemaura Medical (NSDQ:NMRD) said today that it successfully developed predictive algorithms to support alarm functions in its sugarBeat continuous glucose monitoring system. The England-based company touted that its device’s alarm functionality can predict a user’s glucose level five minutes in advance with 98% accuracy, 10 minutes in advance with 95% accuracy and 15 minutes in advance with 90% accuracy. […]