Hologic's CEO praises its activist investor
August 4, 2014 by Arezu Sarvestani
Hologic CEO Steven MacMillan offered a glowing review to major stakeholder Carl Icahn, saying that activist investor is "not into our shorts at all."
MacMillan joined Hologic late last year amid something of a tremulous time, with activist investor Icahn nabbing up more than 12.6% of the company and demanding changes. Read more
Report: Lantheus spikes IPO plans
July 31, 2014 by Brad Perriello
Lantheus Medical Imaging reportedly spiked an initial public offering it hoped would raise $125 million, citing "poor market conditions," Renaissance Capital reported.
Lantheus, which makes imaging agents and other diagnostic products, deals primarily in radiopharmaceutical and contrast agents. Read more
Ex-CEO Pignatelli backs down, but not out, in spat with Biolase
August 1, 2014 by Arezu Sarvestani
Former Biolase CEO Federico Pignatelli agreed this week to withdraw his lawsuit against the dental devices maker, but he’s still pursuing his personal investigation into the company’s recent conduct.
Pignatelli’s lawyer confirmed that he had backed down from his legal complaint, but maintained that “the decision to dismiss the limited action in Delaware should not be seen as any indication that Mr. Pignatelli will not continue to combat the improper actions of the Biolase board of directors.” Read more
Symmetry Medical sells its OEM biz to Tecomet for $450M
August 4, 2014 by Arezu Sarvestani
Symmetry Medical’s going through some big changes, selling off its orthopedics components division and spinning out its surgical business.
Symmetry agreed to divest its OEM solutions business to contract manufacturer Tecomet for $450 million, saying the move will help it stay ahead of a predicted wave of consolidations in the OEM solutions competitive market. Read more
Report: Valeant's hostile takeover hopes fade as Allergan war continues
August 6, 2014 by Arezu Sarvestani
Aesthetics devices maker Allergan threw another punch in the ongoing war with hostile buyer Valeant Pharmaceuticals, calling out alleged problems with Valeant’s latest earnings report.
The ongoing war between the aggressive buyer and uninterested device maker has taken a toll on Valeant, and some negative sentiments from shareholders may signal the downfall of the unrequited $53 billion offer, one analyst said. Read more