In a growing trend among device makers, Biomet Inc. announced that it’s exploring strategic options to spin out its 3i dental devices division.
The company is just testing the waters and a split isn’t guaranteed, but if completed the move will follow in some notable footsteps.
Privately owned Biomet expects to spend several months working on structure, management, governance and other matters related to a potential separation, and doesn’t intend to comment on the evaluation until a decision is made, according to a regulatory filing.
"In our view, evidence is building across healthcare that smaller, more focused companies can perform better than their diversified peers," Goldman analysts wrote last month.
Delcath shareholders OK new stock issue
Delcath (NSDQ:DCTH) shareholder approved a 125% increase in the company’s capital stock from 80 million to 180 million shares in order to raise the number of authorized common stock from 70 million to 170 million shares.
- ConvaTec snags ostomy care devices maker Trio Healthcare International
- Orthofix closes $157.5M acquisition of Breg
Premier awarded Masimo (NSDQ:MASI) with a new 33-month contract for its pulse-oximetry and acoustic monitoring devices. Premier also announced a deal for speciality distribution in imaging and radiation oncology equipment with National Healthcare Distribution.
Novation awarded a contract to IRadimed Corp. for its MRI infusion pump systems, effective Sept. 1.
- Medtronic up for $17M grant for artificial pancreas research
- Abbott and Medtronic participate in $50M funding round for Israel’s Rainbow Medical
- Internal Fixation Systems sells $7.5M worth of common stock to Hyde Park
- Endologix sells $35.1M in common stock to Piper Jaffray
- Becton Dickinson & Co. (NYSE:BDX): Standard & Poor’s Ratings Services raises short-term rating to A-1+
- Delcath (NSDQ:DCTH): Canaccord Genuity decreases price target from $8 to $5
- Edwards Lifesciences (NYSE:EW): Goldman Sachs downgrades to "buy" rating
- Intuitive Surgical (NSDQ:ISRG): Stifel Nicolaus raises price target to $570
- Medtronic (NYSE:MDT): Barclays Capital reinstates "equalweight" rating; UBS AG maintains "buy" rating
On June 4-5, DeviceTalks Minnesota is taking over the Twin Cities medtech industry with one of the most anticipated conferences of the spring.
Join leaders from 3M, Abbott, Bigfoot Biomedical, Boston Scientific, Cardionomic, CMF Solutions, Cyient, Google Mayo Clinic, Medical Alley, Medtronic, NxThera, Opus College, Relievant Medsystems, University of Minnesota, Star Tribune, Smith & Nephew, Spry Health, Zimmer Biomet and many more when you register today.
Use the code "DTWeb" to save 15% on the cost of registration.