LivaNova (NSDQ:LIVN) shares slumped in early trading today after the medical device company reported lower-than-expected third-quarter revenues, despite a swing to black ink and a health beat on earnings. London-based LivaNova posted profits of $32.1 million, or 66¢ per share, on sales of $268.6 million for the three months ended Sept. 30. That compares with losses […]
TransEnterix pursues reverse split, share prices plunge
TransEnterix (NYSE:TRXC) said today that it plans to pursue a reverse stock split that could see it exchange a single share for as many as 40 shares. Companies often use reverse splits to buoy their share prices. Research Triangle Park, N.C.-based TransEnterix, which makes the Senhance robot-assisted surgery device, set the range on the proposed split […]
General Electric jumps on Street-beating Q3 results, raised earnings outlook
General Electric (NYSE:GE) shares got a bump in pre-market trading today after the industrial conglomerate posted third-quarter results that beat the consensus forecast and raised its earnings outlook for the rest of the year. Boston-based GE reported losses of -$9.47 billion, or -$1.08 per share, on sales of $23.36 billion for the three months ended Sept. […]
Medtronic wins FDA breakthrough nod for fully implantable LVAD
Medtronic (NYSE:MDT) said today that it won breakthrough device designation from the FDA for its fully implantable heart pump. The Fridley, Minn.-based medical device giant said its left ventricular assist device is designed to be fully implanted inside the body, with no driveline extending outside the body. Medtronic said the device is still in the […]
Pixarbio CEO Reynolds convicted in $13m investor fraud case
Pixarbio founder & CEO Frank Reynolds reportedly faces two decades behind bars after a jury yesterday convicted him of defrauding investors of nearly $13 million. Federal authorities arrested Reynolds, longtime friend and Pixarbio employee Jay Herod and PixarBio CIO Kenneth Stromsland in April 2018 on securities fraud charges, claiming they misled investors about the opioid substitute […]
Siemens Healthineers closes $1B Corindus Vascular Robotics buy
Siemens Healthineers said it today completed its $1.1 billion buyout of Corindus Vascular Robotics and its robot-assisted device for coronary and peripheral vascular procedures. Last week Corindus shareholders approved the merger, in which the German firm put up $4.28 per common share and $85.60 per Series A convertible preferred share. Today Siemens Healthineers said former […]
BD inks deal to keep Georgia sterilization plant open
Becton Dickinson (NYSE:BDX) said today that it inked a deal with the state of Georgia to keep open a medical device sterilization plant there. Georgia is seeking a temporary restraining order to close the plant in Covington, Ga., where a leak of 54.5 lbs. of ethylene oxide gas went undetected for eight days last month. BD pledged in […]
Natus Medical gains on Q3 swing to black
Natus Medical (NSDQ:NTUS) swung from red to black with its third-quarter results and raised its earnings outlook for the rest of the year, sending its share price up on Wall Street. The Pleasanton, Calif.-based company posted profits of $8.5 million, or 25¢ per share, on sales of $123.5 million for the three months ended Sept. […]
Philips slumps on wider-than-forecast Q3 profit slide
Shares in Royal Philips (NYSE:PHG) took a hit in New York and Amsterdam this morning after the Dutch healthcare giant’s third-quarter profits declined even more than expected. Philips, which earlier this month predicted net income of €210 million ($233.1 million), today reported profits of €208 million ($230.9 million), or 0.23 per share (56¢). Sales for […]
Titan Medical prices offering for up to $25m for Sport robot-assisted surgery device
Titan Medical (TSX:TMD;OTC:TITFX) today priced an offering it hopes will bring in as much as $25 million, cash it desperately needs to resume development of its Sport robot-assisted surgery device. Earlier this month, shares in the Toronto-based company lost nearly half their value when Titan suspended the timeline on the Sport single-port surgery platform. The company […]
Life Spine, execs agree to $6m settlement in kickbacks case
Life Spine and its two top executives agreed to collectively pay nearly $6 million to settle charges that they ran an illegal kickbacks scheme to promote the use of its orthopedic implants. The case dates back to February 2018, when a quartet of anonymous whistleblowers filed a False Claims Act suit alleging that the Huntley, […]