Stryker (NYSE:SYK) shares are up after the orthopedics and hospital equipment giant posted preliminary financial results for the 4th quarter that narrowly beat the consensus forecast on Wall Street. The Kalamazoo, Mich.-based company said it expects a total revenue of $3.2 billion for Q4, up 16.3% from the same time last year. Analysts were looking for sales […]
The FDA today announced it has relabelled Stryker (NYSE:SYK) subsidiary Concentric Medical‘s Trevo mechanical thrombectomy devices as Class II. Concentric Medical submitted a request for reclassification of the Trevo ProVe and XP ProVue retrievers in October last year, according to the FDA. The federal watchdog reviewed the order, and said that on September 2 it issued an order […]
UPDATED Sept. 7, 2016, with comment from Stryker The FDA said today that it granted expanded approval to 2 of Stryker (NYSE:SYK) subsidiary Concentric Medical‘s Trevo clot retrieval devices, with new indications as initial therapy for strokes due to blood clots to reduce paralysis, speech difficulties and other stroke disabilities. The indications expand previous clearances for the devices, […]
MASSDEVICE ON CALL — Telemedicine may look like a future technology, but NASA has been using it to handle astronaut health care since the 1960s.
In a brief presentation at this year’s TEDMED conference, host Jay Walker told the audience how the 1st men who walked on the moon were wired with telemetric sensors that were monitored by mission control back on Earth.
Covidien plc (NYSE:COV) won FDA clearance for its Solitaire FR revascularization device for removing blood clots and restoring blood flow in the brains of patients suffering acute ischemic stroke.
The federal watchdog agency cleared the device, which physically removes blood clots from vessels, on the basis of data gathered during Covidien’s Swift study, the first of its kind to compare mechanical interventions for acute ischemic stroke, according to a press release.
Although it posted healthy sales and profit growth last year, Stryker Corp. (NYSE:SYK) was a penny shy of analysts’ forecasts for adjusted earnings per share, which usually sends investors into a selling spree.
But the Kalamazoo, Mich.-based device maker bucked the trend, as Wall Street sent SYK shares up 3.8%, to $54.94, in early-afternoon trading as of about 2 p.m. today.
Stryker posted $8.31 billion in sales for 2011, 13.5% more than the $7.32 billion it brought in during 2010.
The new CEO at Wright Medical Group Inc. (NSDQ:WMGI) will make $750,000 a year in base pay and have a shot at another $750,000 in performance bonuses, according to the terms of his deal with the orthopedic device maker.
Wright tapped Robert Palmisano, 67, to be its new chief executive earlier this week. He takes over for interim president David Stevens, who had kept watch since former CEO Gary Henley resigned suddenly after a kickbacks scandal last year.
SECURITIES AND EXCHANGE COMMISSION
Stryker Corp. (NYSE:SYK) is readying a $750 million debt offering of five-year senior notes, little more than a week after inking a $135 million deal to acquire Concentric Medical Inc.
The Kalamazoo, Mich.-based orthopedics giant issued another massive round of debt notes early last year, offering $500 million in 5-year notes and $500 million in 10-year notes.
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Stryker Corp. (NYSE:SYK) agreed acquire Concentric Medical Inc. for $135 million in cash in a deal expected to close by the end of the year.