Category: Asahi Kasei Corp.
Despite tighter rules of proof for inequitable conduct, Becton Dickinson logs a win in a lawsuit filed by Abbott subsidiary Therasense; also, shareholder lawsuits declined last year in the life sciences but nobody told Zoll's investors; Meridian Cos. wins LipoLaser suit; LifeWatch Services settles Medicare fraud case for $19M; smelling a rat: FCPA prosecutions depend on flipping firms; and the Federal Circuit overturns DePuy Spine win in patent spat with USC.
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.
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.
Zoll soars on news of $2.2B Asahi Kasei acquisition, judge doubles down on $20M jury award to Boston Scientific in Cordis spat, survey shows that jobs and R&D are likely sacrifices in the face of tax burden, White House clears user fee proposal, U.K. docs call for ban on metal-on-metal hips, FDA clears new silicon implant despite consumer protests and senators introduce bi-partisan medical device bill.
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Zoll revels in Wall Street love on news of a $2.2B buyout, VCs press Senate on "IPO On Ramp" bill and the FDA clears a news breast implant maker despite consumer protests.
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This feature of MassDevice.com's coverage highlights our 3 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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ZOLL shares spike 24% on news of a $2.2 billion buyout by Japan's Asahi Kasei Corp., which promises to keep the current management team, business units and operations intact.
Zoll Medical (NSDQ:ZOLL) is winning a lot of Wall Street love this morning on the news of a $2.21 billion cash offer from Asahi Kasei Corp. (TYO:3407).
ZOLL shares jumped 23.5% to $92.74 in morning trading today, after the Chelmsford, Mass.-based resuscitation device maker said it reached an agreement to merge with Asahi.