The Food & Drug Administration grants ev3 Inc. an expedited review of the pre-market approval application the company filed in May for its Pipeline cerebral aneurysm treatment.
One of Covidien plc's (NYSE:COV) pending acquisitions won some good news from the Food & Drug Administration after it granted ev3 Inc. (NSDQ:EVVV) an expedited review of its Pipeline embolization treatment for cerebral aneurysms.
Plymouth, Minn.-based ev3 said the FDA agreed to consider the pre-market approval application it filed May 18 for the device, which is designed to treat large, giant and wide-necked brain aneurysms. The federal watchdog agency granted the company an expedited review and processing of the PMA.
Covidien plc agrees to pay $250 million in cash to acquire oximetry device maker Somanetics Corp. at $25 per share.
Covidien plc (NYSE:COV) continued to streamline its medical device operations with the latest acquisition in a series of buys and sells: a $250 million cash buyout of oximetry equipment maker Somanetics Corp. (NSDQ:SMTS).
The Mansfield, Mass.-based medical products conglomerate agreed to pay $25 per share, or $250 million, for Troy, Mich.-based Somanetics.
Covidien plc restates its first-quarter and second-quarter financials as it re-classifies its specialty chemicals business as a discontinued operation.
Covidien plc (NYSE:COV) restated its financial results for the past two quarters after it re-classified its specialty chemicals business, sold to New Mountain Capital LLC last month, as a discontinued operation.
The Mansfield, Mass.-based medical products conglomerate had posted first-quarter sales of $2.75 billion during the three months ended Dec. 25, 2009. But after deducting $105 million in discontinued sales, the company is reporting Q1 sales of $2.64 billion, down 3.8 percent.
Not that there's anything wrong with that. The IN3 Investor's conference reveals a new breed of venture capitalists, who see lean as the new black.
The new mantra of the venture capitalist is capital efficiency.
I must have heard that six or seven times while attending the IN3 investor's conference in Boston this week. The event, put on by Elsevier Business Intelligence, brings together startups, established companies and venture capitalists; three interdependent partners with competing interests. After all, the startups want to get the VCs' money, who don't want to give it to them. The VCs want to sell their companies to the big companies, who don't want to give them the valuations they want. And everyone wants to sell their company to Boston Scientific Corp. (NYSE:BSX) or Covidien plc (NYSE:COV).
Covidien plc expands its peripheral vascular footprint with a $2.6 billion acquisition of ev3 Inc.
Covidien plc (NYSE:COV) agreed to acquire ev3 Inc. (NSDQ:EVVV) for about $2.6 billion in cash in a move that substantially expands its footprint in the peripheral vascular market.
Covidien plc sells its specialty chemicals business to New Mountain Capital L.L.C. for $280 million in cash.
Covidien plc (NYSE:COV) sold its specialty chemical unit to New York-based private equity firm New Mountain Capital LLC for $280 million in cash.
The sale involves the J.T. Baker and Mallinckrodt Laboratory Chemicals brands, which are based in Phillipsburg, N.J. Covidien said it expects the deal to close by the end of fiscal 2010.