Diabetes: Asante Solutions sets IPO terms
January 23, 2015 by Brad Perriello
Asante Solutions today set the terms for its initial public offering, saying it plans to offer 3.5 million shares at $13 to $15 apiece.
At the midpoint of the range, the flotation would fetch $49 million. Asante makes a modular insulin pump called the Snap that’s designed to use pre-loaded insulin cartridges. Read more
Stryker CEO Lobo: M&A is our top priority for cash
January 28, 2015 by MassDevice
The chief executive officer of Stryker, recently rumored to have been preparing a bid for British rival Smith & Nephew, said yesterday that acquisitions are his top priority for spending cash, but he gave no hint that any sort of deal was imminent.
The timing of acquisitions is unpredictable, Stryker CEO Kevin Lobo said during the company’s 4th-quarter earnings conference call. Read more
Abiomed surges on Q3 numbers, FDA nod
January 28, 2015 by Brad Perriello
Abiomed shares surged to an all-time high today after the heart pump maker crushed expectations for its fiscal 3rd quarter and raised its outlook on the rest of the year.
Danvers, Mass.-based Abiomed posted profits of $12.7 million, or 30¢ per share, on sales of $62.0 million for the 3 months ended Dec. 31, 2014, marking a bottom-line gain of 188.7% on sales growth of 34.2% compared with Q3 2014. Read more
Credit agencies lower Medtronic's rating post-Covidien merger
January 28, 2015 by Brad Perriello
Credit agencies this week kept their promises to downgrade their ratings on Medtronic’s debt now that its blockbuster $50 billion acquisition of Covidien is a done deal.
Standard & Poor’s Ratings Services, Moody’s Investors Service and Fitch Ratings all either demoted Medtronic’s debt or the Covidien debt it assumed in the deal – although, interestingly, Moody’s did raise its rating on Covidien’s debt. Read more
