Inogen (Nasdaq: INGN), which specializes in respiratory products for homecare, announced a change in the corner office today. The company’s board of directors has named Kevin Smith as Inogen’s new president and CEO, effective immediately. Smith succeeds Nabil Shabshab, who started as CEO in 2021. Smith has over two decades of experience in the medical […]
Olympus has more warnings over bronchoscopes
Olympus has initiated a voluntary field corrective action following reports of endobronchial combustion incidents involving bronchoscopes. The field corrective action — announced Nov. 9 — is taking place after incidents occurred during medical procedures utilizing high-frequency therapy equipment in environments rich in oxygen, according to the company. The warnings are separate from Olympus’ July field […]
Acutus Medical is laying off more than half of its workers
Acutus Medical (Nasdaq:AFIB) announced today that it will lay off 65% of its workforce as part of a major restructuring. The Carlsbad, California–based company’s most recent annual report lists 225 workers at the end of 2022, which means the layoff could involve roughly 146 workers. Restructuring will involve winding down Acutus Medical’s EP mapping and […]
Inspire Medical Systems revenue misses in Q3
Inspire Medical Systems (NYSE: INSP) reported third-quarter revenue that missed the Wall Street analysts consensus. However, the Minneapolis-based implantable sleep therapy device company also upped its full-year guidance. Investors appeared to focus on the downside after Inspire’s Q3 earnings report yesterday evening. By midday trading today, INSP shares were down more than 16% to $134.90 […]
ICU Medical stock falls on Q3 revenue miss
ICU Medical stock is down today after a third-quarter earnings report that included a revenue miss. ICUI shares were down more than 15% to $86.68 apiece by midday trading today. MassDevice‘s MedTech 100 Index was down slightly. San Clemente, California–based ICU Medical — maker of infusion systems, infusion consumables and critical care products — announced […]
Cordis has a new CEO
About two months after former Spectranetics CEO Scott Drake became executive board chair at Cordis, he’s moved into the corner office at the cardiology and endovascular devices company. Drake replaces Shar Matin, who has stepped down as CEO, the company announced yesterday. Hunter Philbrick, Hellman & Friedman partner and company board member, noted in a […]
Cooper Companies spends $300M on some Cook Medical product lines
Cook Medical today agreed to sell some reproductive health and otolaryngology product lines to Cooper Cos., the companies announced. The purchase price was $300 million. The products in the sale represent about 2.5% of Cook Medical’s sales. Manufacturing will get transferred to Cooper Cos. over a two-year period. The news comes about three months after […]
ResMed is cutting its workforce as it seeks to refocus
ResMed announced that it is reducing its workforce by about 5% as part of a restructuring it plans to complete in the present quarter. The San Diego–based maker of CPAPs and other respiratory devices listed a headcount of 8,160 in its most recent annual report, which means roughly 400 workers could be affected. “Decisions like […]
Integer scores a big Q3 earnings beat, closes tuck-in acquisition
Medtech contract manufacturing giant Integer saw its stock jump more than 14% in value today on Street-beating third-quarter earnings and upped guidance. Plano, Texas–based Integer also announced that it has spent $42 million to acquire certain assets of InNeuroCo to boost its neurovascular catheter capabilities. The deal, which closed Oct. 1, will add $5 million […]
Edwards Lifesciences says TAVR drove 12% sales growth in Q3
Edwards Lifesciences reported third-quarter results that met Wall Street expectations, with solid sales growth keeping it on track to boost revenue by up to 13% this year. Investors may have expected more from the maker of catheter-delivered heart implants, including transcatheter aortic valve replacement systems and transcatheter mitral and tricuspid therapies. The morning after the […]
Boston Scientific executive is Day Zero Diagnostics’ new board chair
Day Zero Diagnostics — which seeks to harness whole-genome sequencing and AI in the fight against antibiotic-resistant infections — has a Boston Scientific executive as its new board chair. Jeff Mirviss is presently EVP and president of the Peripheral Interventions Division at Boston Scientific. He was already an independent director on Boston-based Day Zero Diagnostics’ […]