The top three medical device stories for August 11, 2011.
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This latest feature of MassDevice.com's coverage highlights our three biggest and most influential stories from the day's news to make sure you're up to date on the headlines that continue to shape the medical device industry.
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Covidien announces a $2 billion share repurchase progam after posting a stellar quarter with a 47 percent bump in earnings.
Covidien Plc.'s (NYSE:COV) board of directors approved a $2 billion stock repurchase program today.
"The board's approval of this share repurchase program reflects its confidence in the continued growth of Covidien's business, our sustainable free cash flow and our commitment to enhance shareholder value," president & CEO José Almeida said in a press release.
Covidien begins patient enrollment of studies aimed at expanding use of its Visi-Pro and Protege stent systems.
Covidien Plc. (NYSE:COV) enrolled the first patients into its two Iliac stent trials, Durability and Visibility.
The trials will each enroll 75 patients at up 20 centers in Europe and the U.S. in order to test the safety and effectiveness of Mansfield, Mass.-based Covidien's Iliac stent systems for patients with peripheral arterial disease.
Both studies have started in Belgium, enrolling patients at AZ St-Blasius in Dendermonde and Imelda Hospital in Bonheiden.
Covidien tells a crowd of med-tech executives in Boston that the company plans to beef up its overseas workforce, but not at the expense of jobs at home.
Covidien Plc. (NYSE:COV) will likely beef up its overseas workforce, CEO Joe Almeida told attendees at a Boston meeting of medical device executives today.
"Slightly less than half of our revenues come from outside the U.S., so we need more people in places like the UK and Singapore," Almeida said.
Almeida insisted that the jobs overseas were not taking away from jobs domestically, saying "It's not about fewer workers here, it's about more workers overseas."
Covidien Plc. CEO Joe Almeida calls the Institute of Medicine report calling for dismantling of the 510(k) program a disappointment
Covidien CEO Joe Almeida at the MassDevice Big 100 Regional Roundtable, July 11, 2011
The new CEO for Covidien Plc. (NYSE:COV) took the recently released study of the FDA's 510(k) program to task this morning, saying the institute failed to deliver on what it was tasked with doing when hired by the FDA nearly two years ago.
Premier inks its fifth deal this week, this time for creatinine hand-held analyzers.
Hospital purchasing organization Premier Inc. announced a fifth contract this week with news that the Charlotte, N.C.-based GPO would begin providing creatinine hand-held analyzers to certain levels of its membership.
The devices, which are used to assess renal function at bedside, are developed by Nova Biomedical Corp. of Waltham, Mass.
Premier signs two agreements for blood gas analyzers with Siemens and Instrumentation Lab.
Premier Inc. announced two new deals today, bringing them to four contracts this week alone.
The hospital group purchasing organization signed contracts with Deerfield, Ill.-based Siemens AG (NYSE:SI) and Instrumentation Laboratory of Bedford, Mass.