Stryker (NYSE:SYK) said today that it closed the $190 million acquisition of Invuity (NSDQ:IVTY), adding the San Francisco-based company’s single-use surgical instruments and illumination devices to its portfolio. The $7.40-per-share deal represented a 28.7% premium over the $5.75 closing price for IVTY shares Sept. 10, the day before the deal was announced. “The combination of Stryker’s established leadership […]
Invuity
Stryker puts up $190m for Invuity
Invuity (NSDQ:IVTY) said today that it agreed to a buyout proposal from Stryker (NYSE:SYK) worth about $190 million in cash. The $7.40-per-share price is a 28.7% premium over yesterday’s closing price for IVTY shares of $5.75 apiece; news of the pending merger sent the stock up 27.8% to $7.35 apiece this morning in pre-market trading. San […]
Invuity launches PhotonGuide Adapt vaginal surgical illuminator and retractor system
Invuity (NSDQ:IVTY) said yesterday it launched the PhotonGuide Adapt system featuring a flexible illuminator and retractors for vaginal surgical procedures. The devices are designed for use in procedures including pelvic organ prolapse repairs and vaginal hysterectomies, the San Francisco-based company said. The PhotonGuide Adept’s waveguide is designed to conform to different sizes and shapes of retractors […]
Invuity prices $22m offering
Invuity (NSDQ:IVTY) today priced an upcoming offering, looking to raise approximately $21.7 million, with an additional $2.1 million possible through a 30-day underwriter’s option. The San Francisco-based company said it is looking to float 6.2 million shares of common stock at $3.50 per share. The offering also includes a 30-day underwriters option to purchase an additional 600,000 […]
Invuity prez & CEO Sawyer steps down, Flora in as interim | Personnel Moves – March 13, 2018
Invuity (NSDQ:IVTY) said late last week that its president and chief executive officer Philip Sawyer has resigned and will be replaced by board member Scott Flora on an interim basis. Flora has served as a member of the board since last November, and has held positions as prez, CEO and director of Omniguide. He has also held […]
Sterilis taps ex-Nanosphere CEO McGarrity as chief exec | Personnel Moves – November 1, 2017
Medical sterilization company Sterilis said yesterday it tapped former Nanosphere (NSDQ:NSPH) chief exec Michael McGarrity as its new CEO. McGarrity held the CEO position at Nanosphere from February 2013 to last June when he oversaw the company’s $76.9 million acquisition by Luminex (NSDQ:LMNX). Prior to his time as head of Nanosphere, McGarrity held positions in sales, marketing […]
Invuity closes $10m tranche from MidCap loan facility
Invuity (NSDQ:IVTY) said today it drew a $10 million tranche from a term loan with MidCap Financial, its 2nd to date. The loan facility with MidCap requires the company meet certain net revenue requirements, which the San Francisco-based company said it has adjusted in an amended agreement. The company received the 1st tranche of $20 million from […]
Invuity is back with its PhotonBlade
Invuity has reintroduced its PhotonBlade to the market, more than three months after it recalled the minimally invasive surgery light due to “unintended energy discharge” during procedures. The new and improved PhotonBlade includes what Invuity officials describe as enhancements to improve energy delivery and provide optimized illumination performance. The new PhotonBlade will ship to customers […]
Invuity shares fall on Q2 earnings miss, lowered outlook
Shares in Invuity (NSDQ:IVTY) fell today after the medical device maker missed expectations on Wall Street with its 2nd quarter earnings results. The San Francisco, Calif.-based company posted losses of $10.4 million. or 61¢ per share, on sales of $9.8 million for the 3 months ended June 30, seeing losses grow 2.5% while sales grew 18.8% compared […]
Invuity recalls PhotonBlade
Invuity (NSDQ:IVTY) said today that it recalled its PhotonBlade minimally invasive surgery light, after a few customers reported “unintended energy discharge” during procedures. The PhotonBlade device, which won 510(k) clearance from the FDA in August 2016, was in a limited market release that began in March, Invuity said. Customer feedback, gathered to inform improvements to the […]
Invuity shares lift on Street-topping Q4, FY2016 prelims
Invuity (NSDQ:IVTY) today released preliminary Q4 and full year 2016 earnings, topping the Street’s estimates and sending its shares up slightly in mid day trading. The San Francisco-based company said it expects to see revenue of between $9.1 and $9.3 million for the final quarter of 2016, above the $8.6-8.7 million analysts expected to see from […]