Abbott (NYSE:ABT) this week accused a former marketing executive of purloining the marketing playbook for its neuromodulation business on his way out the door to a marketing job at competitor Nevro Corp. (NYSE:NVRO). In a lawsuit filed in the U.S. District Court for Northern Illinois, Abbott alleged that former neuromodulation global marketing product manager Blayne […]
Getinge’s Atrium Medical deals biosurg biz to SeCQure Surgical parent
Getinge (PINK:GETI B) subsidiary Atrium Medical said today that it agreed to deal its biosurgery business to the parent company of SeCQure Surgical for an undisclosed amount. Göteborg, Sweden-based Getinge acquired the biosurgery unit, which makes soft tissue reinforcement devices, in the $680 million deal for Atrium back in 2011. Today Getinge said it agreed to sell the business, which […]
Fresenius plunges on missed prelims, guidance cut
Fresenius (NYSE:FMS) shares closed down some $17% yesterday after it cut its outlook for the rest of the year on lower-than-expected third-quarter results. The German dialysis giant released preliminary figures for the three months ended Sept. 30, saying it expects to report profits of €285 million on sales of €4.06 billion. Analysts were looking for sales of €4.12 billion. […]
Boston Scientific closes $600m Augmenix buyout
Boston Scientific (NYSE:BSX) said yesterday that it closed the $600 million acquisition of Augmenix and its SpaceOar device. The deal for Bedford, Mass.-based Augmenix, announced in September, called for $500 million in up-front cash and another $100 million pegged to sales-based milestones. “This close marks the third completed acquisition in 2018 for the company’s urology & […]
Abbott slips on narrowed earnings guidance
Abbott shares slipped in pre-market trading today after the company narrowed its earnings outlook for the rest of the year, after just meeting both its own forecast and the consensus Wall Street outlook. The Chicago-area healthcare giant’s profits for the three months ended Sept. 30 were off -6.6% at $563 million, or 32¢ per share, […]
ReWalk Robotics dips on Q3 prelims, registers $15m offering
ReWalk Robotics (NSDQ:RWLK) shares took a hit today after the rehabilitation exoskeleton maker posted preliminary third-quarter sales that missed the mark on Wall Street, even as the company revealed plans for a $15 million public offering. The Yokneam, Israel-based company also registered a $14.8 million offering of stock and other securities. ReWalk said it expects […]
CryoLife gains on Q3 prelim beat
CryoLife Inc. (NYSE:CRY) shares ticked up today after it announced preliminary third-quarter sales numbers that beat the consensus forecast on Wall Street. Kennesaw, Ga.-based CryoLife said it expects to post sales of roughly $64.6 million, 4.5% ahead of The Street’s forecast for a $61.8 million top line. “Our third-quarter revenue results were driven by continuing […]
Appeals court overturns Stryker win in retaliatory filing case
A federal appeals court yesterday overturned a lower court’s decision to toss a retaliatory filing case against Stryker (NYSE:SYK) after finding conflicts within the company’s testimony. Plaintiff Kelley Donley sued the orthopedics giant in June 2015 after Stryker fired her, allegedly for taking compromising pictures of an important vendor – but also shortly after she […]
Johnson & Johnson’s Q3 numbers top estimates
Third-quarter sales and earnings for Johnson & Johnson (NYSE:JNJ) topped the consensus forecast, prompting the healthcare giant to raise its outlook for the rest of the year. New Brunswick, N.J.-based J&J posted profits of $3.93 billion, or $1.44 per share, on sales of $20.35 billion for the three months ended Sept. 30, for a bottom-line […]
ConvaTec CEO steps down amid lowered outlook
ConvaTec (LON:CTEC) shares lost a third of their value today after the British wound care giant said the CEO that took it public two years ago is stepping down and lowered its outlook for the rest of the year. Chief executive Paul Moraviec, who led ConvaTec to a $1.8 billion initial public offering in October 2016, […]
Abbott promotes Ford to COO | Personnel Moves – October 15, 2018
Abbott (NYSE:ABT) said today that it promoted the head of its medical device division, the healthcare giant’s largest segment, to be its new operations chief. In naming former medical devices VP Robert Ford as COO, Abbott said Ford oversaw the integration of St. Jude Medical and was instrumental in the debut of Abbott’s FreeStyle Libre […]
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