General Electric (NYSE:GE) shares took a hit today after the industrial conglomerate missed the consensus forecast for its second-quarter sales, despite topping the earnings forecast and raising its outlook on the rest of the year. Boston-based GE posted losses of -$61.0 million, or -1¢ per share, on sales of $26.79 billion for the three months ended […]
SentreHeart touts first-in-human Lariat procedures with EpiRail
SentreHeart yesterday touted the first-in-human procedures involving its Lariat left atrial appendage closure device to reduce the risk of stroke in patients with atrial fibrillation. The initial nine procedures, performed by Drs. Kryzstof Bartus and Randy Lee at Krakow, Poland’s John Paul II hospital, used the EpiRail vacuum stabilization system for an epicardial-only, percutaneous approach […]
VapoTherm registers $57m offering
VapoTherm (NYSE:VAPO) yesterday registered a stock offering worth up to $57 million for the maskless, noninvasive ventilation device it’s developing. Exeter, N.H.-based VapoTherm said it plans to float 2.6 million shares at an unspecified price, listing the maximum amount of the offering at $57.4 million. The offering is also slated to include a 30-day underwriters option […]
Smith & Nephew gains on Q2 results, raised sales outlook
Shares in Smith & Nephew (NYSE:SNN) gained today in London and New York after the medical device giant posted strong first-half results and raised its revenue outlook for the rest of the year. London-based Smith & Nephew posted profits of $309 million, or 35.2¢ per share, on sales of $2.49 billion for the six months […]
Zimmer Biomet fights below-market mini-tender
Zimmer Biomet (NYSE:ZBH) is advising its stockholders not to pick up a below-market mini-tender offer from TRC Capital, that firm’s latest attempt to pick up a medtech stock on the cheap. TRC is offering to buy up to 1 million ZBH shares at $115.35 apiece – 4.4% lower that their $120.60 closing price the day before […]
Medpace jumps on Q2 beats
Medpace (NSDQ:MEDP) shares surged today after the contract research organization posted second-quarter numbers that topped the consensus forecast. Cincinnati-based Medpace reported profits of $27.5 million, or 73¢ per share, on sales of $214.1 million for the three months ended June 30, representing a bottom-line gain of 65.7% on sales growth of 25.8% compared with Q2 […]
Veramorph lands spot in Delaware accelerator
Veramorph Materials landed a spot in a Delaware business accelerator backed by DuPont to develop its hydrogel-based oral drug delivery platform. Veramorph and MCET Technologies (which is developing wearable sensor technology) won their spots in the Delaware Innovation Space via the DuPont FastPass competition. The companies get a year of free access to the accelerator, including […]
Cantel Medical puts up $775m for dental instrument maker Hu-Friedy
Cantel Medical (NYSE:CMD) said today that it put $775 million on the table to acquire dental instruments maker Hu-Friedy. Chicago-based Hu-Friedy, which makes dental instruments and systems used to reprocess them, put up adjusted EBITDA of roughly $48 million on $214 million in sales during the twelve months ended May 31. The deal calls for Little […]
Feds sue Medtronic for disability discrimination
The U.S. Equal Employment Opportunity Commission yesterday sued Medtronic (NYSE:MDT) for disability discrimination, alleging that the company illegally fired a South Carolina employee because of a disability. April Jackson worked as a temporary forklift driver at a Medtronic facility in Greenwood, S.C., from Oct. 3, 2016, until she was fired Feb. 10, 2017, according to […]
Sterifre Medical adds $8m for desktop sterilizer
Sterifre Medical said today that it raised $8 million in a Series B round for the Aura desktop sterilization device it’s developing for handheld devices. Kirkland, Wash.-based Sterifre said that it’s raised $20 million to date, including a $12 million Series A round in 2017. “Proceeds from the Series B financing will fund our initial […]
ResMed reveals tentative $40m settlement with feds
ResMed (NYSE:RMD) last week revealed a tentative, $40 million settlement with the U.S. Justice Dept. to resolve a three-year probe into its resupply business. The San Diego-based respiratory company said it set aside $41.2 million to cover the $39.5 million settlement and any legal and administrative costs. In July 2016 the Justice Dept. subpoenaed ResMed for […]
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