Hillrom (NYSE:HRC) today reported fourth-quarter results that exceeded the consensus forecast on Wall Street, and company officials foresee stronger-than-expected earnings in the coming months. The Chicago-based maker of hospital beds, patient monitoring and diagnostic equipment and more reported profits of $42.4 million, or 63¢ per share, on sales of $705.3 million for the three months ended […]
Stryker to complete Wright Medical acquisition on November 10
Stryker (NYSE:SYK) announced today that it has cleared all regulatory hurdles standing in the way of its planned $4.7 billion acquisition of Wright Medical (NSDQ:WMGI). The Kalamazoo, Mich.–based orthopedic device giant plans to complete the tender offer at its expiration, which is scheduled to take place at 5 p.m. Eastern time on Nov. 10, 2020. The news […]
Medtronic has a Class I recall involving balloon catheters to treat heart defects
FDA today designated a Medtronic recall of Rashkind balloon septostomy catheters as Class I, its most serious level. The balloon catheters create an atrial septal defect or to enlarge an existing atrial septal defect in order to treat congenital heart defects. Medtronic (NYSE:MDT) initiated a recall of the Rashkind balloon septostomy catheters in late August after […]
BREAKING: Stryker clears U.S. regulatory hurdle to buy Wright Medical
The Federal Trade Commission announced today that it plans to allow Stryker (NYSE:SYK) to proceed with its planned $4.7 billion acquisition of Wright Medical (NSDQ:WMGI), provided that Stryker divest certain assets to Colfax (NYSE:CFX)/DJO Global. Stryker had proposed selling assets to DJO Global about two months ago as a way to allay FTC concerns that the deal would […]
Coloplast sees revenue growth accelerating in 2021, acquires Nine Continents Medical
Coloplast (CPH:COLO-B) announced today that it was able to boost its annual earnings even as the COVID-19 pandemic held down sales growth — with the Danish medical device giant expecting a stronger 2021. Also today, Coloplast announced that it has completed its acquisition of Nine Continents Medical, an early-stage company pioneering an implantable tibial nerve stimulation […]
Siemens Healthineers expects revenue to grow again in 2021
Siemens Healthineers (ETR: SHL) announced today that its sales tick down during its fiscal year ended Sept. 30, 2020 — but company officials expect revenue growth to return. The Erlangen, Germany–based medtech giant reported profits of €432 million ($484 million) on sales of €3.88 billion ($4.34) during Q4, with the bottom line –15% and the top line […]
Baxter has a serious infusion pump recall
Baxter (NYSE:BAX) has issued an urgent device correction involving hundreds of thousands of Sigma Spectrum infusion pumps in which it warns that improper cleaning could cause corrosion around the batteries. So far, Baxter has received 16 reports of serious injuries related to the problem. FDA has labeled the recall as Class I, its most serious level. […]
LivaNova stock up on Street-beating Q3, CFO departing
LivaNova (NSDQ:LIVN) posted third-quarter results today that beat the consensus forecast on Wall Street, though the company still expects full-year sales between –7% and –17% on a constant-currency basis. LivaNova also announced that CFO Thad Huston will leave his position by Oct. 31 — after serving three and a half years with the company. Alex Shvartsburg, […]
Teleflex reports better-than-expected Q3, will acquire Z-Medica for $500M
Teleflex (NYSE:TFX) posted third-quarter results today that beat the consensus forecast on Wall Street, with CEO Liam Kelly reporting an encouraging pace of recovery in the U.S. The Wayne, Pa.–based medtech company also announced that it plans to pay $500 million upfront to acquire Z-Medica and its QuikClot, Combat Gauze and QuikClot Control kaolin-impregnated gauzes […]
GE stock up on better-than-expected Q3 results
Shares of General Electric (NYSE:GE) shot up today after the multinational industrial company reported adjusted Q3 profits that beat The Street, where analysts predicted a loss. Boston-based GE reported earnings of –$1.195 billion, or –13¢ per share, on sales of $19.417 billion for the three months ended Sept. 30, 2020. The company saw even wider losses […]
FDA clears Abiomed compact cardiopulmonary bypass system
Abiomed (NSDQ:ABMD) announced today that FDA has granted a 510(k) clearance for its Breethe OXY-1 system — which among other things could help treat people with severe cases of COVID-19. The Abiomed Breethe OXY-1 system is an all-in-one, compact cardiopulmonary bypass system. It provides cardiopulmonary bypass support for people whose lungs are no longer able to […]