St. Jude Medical‘s (NYSE:STJ) largest investor boosted its stake by more than 30%, to some 27.2 million shares, or about 10% of the medical device maker.
MFS Investment Management, which claims to have invented the mutual fund in 1924, owned about 20.9 million shares, or an 8% stake, as of March 23. In a YY regulatory filing, MFS said it now owns about 27.2 million shares, according to regulatory filings.
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With STJ shares trading at $37.88 apiece as of about 11;40 today, Boston-based MFS’s stake is worth about $1.03 billion.
The company’s next-largest backer, Capital Research Global Investors, stood pat at 23.7 million shares, or about 7.4% of St. Jude’s outstanding stock, worth about $898.7 million.
Smith & Nephew (FTSE:SN, NYSE:SNN) said its ortho-biologics joint venture with Essex Woodlands, Bioventus, has fledged the nest as a stand-alone company.
The Durham, N.C.-based spinout, which employs about 500 workers, originated as Smith & Nephew’s biologics & clinical therapies division in 2008. It posts annual sales of about $240 million, according to a press release.
Smith & Nephew said Bioventus employees outside the U.S. will stay on with the parent company, which will distribute Bioventus products until the business can be transferred to Bioventus. The company sells the Exogen ultrasound bone healing system, the Supartz hyaluronic acid therapy for knee osteoarthritis and the Durolane joint fluid treatment.
"Bioventus will be aggressively seeking to expand its product portfolio, focusing on the orthopedic biologics space," according to the release.
Smith & Nephew also said it acquired negative-pressure wound therapy maker Kalypto Medical for an undisclosed amount.
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