Category: Invacare Corp.
The Healthcare Supply Chain Assn. names 45 medical device companies it says are shifting the cost of the 2.3% federal excise tax, among them Allergan and Invacare.
Medical devices made a lot of headlines in 2012, and the word "layoffs" was in many of them.
The medical device industry had a lot of big stories during the last year, including tales of recalls, lawsuits and CEO swapping, but the single factor that drove more big headlines than any other was news of layoffs.
Some of the biggest companies in the industry announced significant cuts in 2012, amounting to about 7,000 reported layoffs, by some estimates.
Medical device maker Invacare lays of nearly 150 from an Ohio manufacturing facility, citing a "decline in production" following an injunction agreement with the FDA.
Elyria, Ohio-based medical device company Invacare (NYSE:IVC) cut 143 employees from its local manufacturing facility, citing a "decline in production."
The decline is the result of manufacturing limits related to an FDA injunction that was approved last week, according to a press release.
Medical device maker Invacare reports that it plans to pass on the estimated $1.5 million burden of the medical device tax onto its customers.
Updated at 11:30 a.m. with additional comments from Invacare.
Home healthcare products maker Invacare (NYSE:IVC) doesn't expect to see too hefty a hit to its bottom line once the medical device tax take effect in January, and it expects to shift that cost onto the market, the company announced today.
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.
Campbell Rogers, the chief scientific officer for Johnson & Johnson's Cordis Corp., leaves after nearly 6 years to join HeartFlow as its chief medical officer.
Campbell Rogers is leaving his post as chief scientific officer for Johnson & Johnson's (NYSE:JNJ) Cordis Corp. – a role created for him in July 2006 – to take the chief medical officer job at startup HeartFlow.
Edwards Lifesciences is down in after-market trading, despite reporting Street-beating profits for the 4th quarter and full year; also, medical systems fuel CareFusion's Q2 results; Kensey Nash posts Q2 surge; Invacare slides to Q4, 2011 red; Allergan swings to Q3 black; and sales rise, profits fall for Vascular Solutions.
Shares of Edwards Lifesciences (NYSE:EW) are down more than 6% in after-market trading despite a Wall Street-beating 4th quarter and full year.
Edwards posted profits of $63.1 million, or 53 cents per diluted share, on sales of $430.2 million during the 3 months ended Dec. 31, 2011, representing a sales increase of 9.6% but a bottom-line decline of 2.6%. Excluding 1-time items, EPS reached 62 cents, 3 pennies ahead of expectations on The Street.
