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Zynex CEO clears out board | Personnel Moves

January 20, 2014 by Chris Walker

Zynex CEO Thomas Sandgaard downsizes the company's board of directors as part of a larger strategy to restructure the company.


Zynex (OTC:ZYXI) CEO Thomas Sandgaard has cleared the path to reshape the company after cutting its board in half.

Sandgaard asked for the resignations of board members Mats Wahlstrom, Mary Beth Vitale, Kevin Smith and Taylor Simonton, to add board members who share Sandgaard's vision for the rehab devices maker.

Synergetics closes Penn. facility, announces layoffs amid narrowed profits

October 3, 2013 by Arezu Sarvestani

Missouri medical device maker Synergetics reports a shrinking bottom line and employee reductions as it closes a Pennsylvania manufacturing facility.

Synergetics reports narrowed earnings, closure of Penn. facility

Synergetics (NSDQ:SURG) is closing a King of Prussia, Penn., manufacturing facility that employs 24 workers, transferring production to an office in O'Fallon, Miss.

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Abbott's board approves AbbVie pharma spinout | Wall Street Beat

November 29, 2012 by MassDevice staff

Abbott's board approved the spinout of its branded pharmaceuticals division as AbbVie, planning to issue 1 AbbVie share for each ABT share. Wall Street Beat

Abbott (NYSE:ABT) said its board of directors approved the spinout of its branded pharmaceuticals business as AbbVie Inc. in which Abbott's shareholders will receive an AbbVie share for each ABT share they own.

The distribution is slated for Jan. 1, 2013, for shareholders of record as of Dec. 12, according to a press release.

Device tax spurs Hill-Rom to lay off 200 | Wall Street Beat

March 28, 2012 by MassDevice staff

Hill-Rom Holdings says it plans to lay off 200 workers, or 3% of its workforce, in part due to the looming medical device tax; also, AngioDynamics drops $5M on Microsulis; Kips Bay switches NASDAQ markets; Luna Innovations, Intuitive Surgical extend pact; Asahi Kasei begins $2B bid for Zoll; CRO Cetero files for bankruptcy after FDA probe; NASDAQ warns NeuroMetrix; the 6 players that dominate the EMR market; Intuitive Surgical, GE, Hitachi, Philips win federal contracts; plus a Funding Roundup and analysts' ups and downs. Wall Street Beat

Hill-Rom Holdings (NYSE:HRC) said it will lay off about 3% of its workforce, or roughly 200 workers, as it maneuvers to confront the medical device tax set to go into effect next year.

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Sorin's 2011 sales stay flat, profits soar | Earnings Roundup

March 15, 2012 by MassDevice staff

Italian medical device maker Sorin Group posts flat sales for 2011, but boosts profits by more than 48%; also, Dräger Medical's 2011 sales dip 2%; Sanuwave's 2011 sales rise, losses narrow; Aastrom's 2011 sales soar, losses mount; Sales tick up, profits soar for American Shared Hospital Services; Atrion's 2011 sales, profits rise; Sales rise, losses narrow for BioMimetic Therapeutics; InVivo Therapeutics' losses rise 340%; Sales, earnings up for Synergetics during Q2; Utah Medical's sales rise more than 50% in 2011; and Zynex logs 2011 profit growth of 347%.

Sorin Group

Sorin Group (BIT:SRN) reported flat sales but strong profit growth for 2011, saying it raised earnings by 48.3% and revealing that the cardiac rhythm management slump has made its way across the pond.

The Italian medical device maker posted net income of €58.0 million (~$75.2 million) on sales of €743.4 million (~$963.4 million) for the year ended Dec. 31, 2011. That compares with profits of €39.1 million (~$50.7 million) on sales of €745.8 million (~$966.5 million) during 2010.

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Ortho stocks up on strong Q2 prelims for Biomet | Earnings Roundup

December 20, 2011 by MassDevice staff

Orthopedics bellwether Biomet's 2nd-quarter preliminary sales numbers are up 4%, sending other ortho stocks up on Wall Street; also, quarterly results for Analogic; Angeion; Cantel Medical; Cyberonics; Hamilton Thorne; LED Medical; Mauna Kea Technologies; Mazor Robotics; Optos; Rectractable Technologies; Sectra; SeraCare; Sirona Dental; Solos Endoscopy; Synergetics; Synovis; and World Heart Corp.


Shares of orthopedic device makers are up this morning after bellwether Biomet Inc. reported preliminary sales numbers indicating 3.8% growth for its fiscal second quarter.

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