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Surgical Specialties to shutter Pennsylvania plant

March 24, 2015 by Brad Perriello

Surgical Specialties plans to shutter a plant in Reading, Pa., meaning layoffs for about 254 workers.

Surgical Specialties to shutter Pennsylvania plant

Surgical instruments maker Surgical Specialties is planning to permanently shutter a plant in its hometown of Reading, Pa., this spring, meaning layoffs for roughly 254 workers.

Bidding war for Carestream heats up | Wall Street Beat

March 29, 2013 by Brad Perriello

Private equity players Bain Capital, Carlyle Group and KKR & Co. are in the hunt for medical device company Carestream, said to be on the auction block for up to $3.5 billion. Wall Street Beat

At least 5 major private equity players are vying for medical device company Carestream Health, including Bain Capital, Carlyle Group and KKR & Co., according to Reuters.

Onex Corp. is hoping to unload Carestream, formed in the 2007 spinout of Eastman Kodak Co.'s healthcare business, for up to $3.5 billion, the news service reported.

Angiotech hands $363M in interventional assets back to Argon Medical

March 26, 2013 by Arezu Sarvestani

Angiotech Pharmaceuticals sells its interventional products business back to previous overseer Argon Medical for $362.5 million, planning to use part of the funds to repay repay all of its outstanding debts.

Angiotech Pharmaceuticals logo
Argon Medical Devices logo

Angiotech Pharmaceuticals plans to retire all of its outstanding debt obligations with part of the $362.5 million it stands to gain through the sale of its interventional products business back to Argon Medical Devices.

Angiotech narrows losses following bankruptcy, restructuring

November 16, 2012 by MassDevice staff

Angiotech Pharmaceuticals cuts losses in half during its 3rd quarter after the company undertook restructuring measures after filing for bankruptcy last year.

Angiotech logo

Angiotech Pharmaceuticals unveiled its 3rd quarter results, demonstrating narrowed losses in the year following the company's bankruptcy and restructuring efforts.

Angiotech settles severance beef with former president & CEO for $6.5M

November 15, 2012 by MassDevice staff

Angiotech and former president & CEO William Hunter reach an agreement in principle following a year-long severance package dispute.

Angiotech logo

Angiotech Pharmaceuticals reached an agreement in principal with former president & CEO William Hunter to settle a matter regarding Hunter's termination payments, with Hunter receiving more than double the company's initial cash offer.

Gingrich's health consulting group goes under | Wall Street Beat

April 6, 2012 by MassDevice staff

Newt Gingrich's Center for Health Transformation files for Chapter 7 bankruptcy; also, device makers race to all-in-1 diabetes care; device tax is no big deal, say med-tech execs; Bioject's independent accountant resigns amid uncertainty; Gabelli puts some skin into Zoll; Hologic lands DoD contract worth up to $98 million; Angiotech sells Quill tech to J&J; MiMedx beats Q1 sales goals; EnteroMedics signs exclusive distribution with Bader Sultan & Bros.; Merck buys into VirtualScopics to the tune of up to $9 million; MTBC acquires GlobalNet; GE completes SeqWright acquisition; Elron subsidiaries near close on merger; American CryoStem and Protein Genomics join forces for wound healing; Hypertension Diagnostics gets building code violation; Abbott and Kensey Nash hit 52-week highs Wall Street Beat

The Center for Health Transformation, a health care think tank launched by GOP presidential hopeful Newt Gingrich, filed for Chapter 7 bankruptcy this week, listing liabilities of between $1 million and $10 million that it says it can't repay.

The organization's assets, which it listed in court filings at between $50,000 and $100,000, will be liquidated and the business may subsequently close.