Will Smith & Nephew split up too?
March 28, 2014 by Brad Perriello
Smith & Nephew shares gained in London and New York today on an analyst’s speculation that the British medical device maker is ripe for a spinout akin to the Baxter split announced this week.
Nicholas Keher, an analyst with Investec, said Smith & Nephew could unlock value for shareholders by splitting its 3 main divisions — advanced wound management, endoscopy and orthopedics — into independent companies. Read more
ACC 2014: Sapien XT bests CoreValve in small head-to-head study
March 31, 2014 by Brad Perriello
Edwards Lifesciences shares gained today after a small study showed that its Sapien XT replacement heart valve tops the CoreValve device made by Medtronic in terms of overall “device success.”
The 241-patient Choice trial of the 2 transcatheter aortic valve implants showed device success in 95.9% of patients implanted with the Sapien XT device, compared with 77.5% of patients in the CoreValve arm. “Device success was defined as “successful vascular access and deployment of the device and retrieval of the delivery system, correct position of the device, intended performance of the heart valve without moderate or severe regurgitation, and only 1 valve implanted in the proper anatomical location.” Read more
Terumo inks deal for Arterial Remodeling's bioresorbable stent
March 27, 2014 by Brad Perriello
Arterial Remodeling Technologies said it inked a deal with Terumo Corp. for its bioresorbable drug-eluting coronary stent that includes an exclusive buyout option.
The deal between Terumo and Paris-based Arterial Remodeling calls for the Japanese company to make a series of R&D investments in the coronary stent technology, according to a press release. ART said it will hold on to its bioresorbable scaffold technology for possible use in other indications. Read more
Baxter reveals plans to split pharma, medical products businesses
March 27, 2014 by Brad Perriello
Baxter said it plans to separate its medical products and pharmaceuticals businesses into independent companies, following in the footsteps of rivals Abbott and Covidien.
“Baxter has an established history of executing successful spinoffs, and we have continued to evaluate the separation of these two businesses in response to diverging business dynamics and the rapidly changing macro-environment,” said Robert Parkinson Jr., chairman & CEO of the Deerfield Park, Ill.-based healthcare titan, in prepared remarks. “This decision underscores Baxter’s commitment to ensuring its long-term strategic priorities remain aligned with shareholders’ best interests, while improving our competitive position and performance, enhancing operational, commercial and scientific effectiveness and creating value for patients, healthcare providers, and other key stakeholders.” Read more
Urologix still owes Medtronic $650k
March 28, 2014 by Brad Perriello
Urologix still hasn’t paid off the more than $650,000 it owes Medtronic in royalties for sales of its Prostiva RF device.
Minneapolis-based Urologix, which makes the Cooled ThermoTherapy and Prostiva RF devices to treat benign prostatic hyperplasia, said in January that it planned to lay off an unspecified number of workers as it sought to right the ship. Read more
