Biomet announces IPO plans
March 7, 2014 by Brad Perriello
Biomet is planning to put itself back on the public market after a 7-year run under private equity ownership, the orthopedics giant said today.
A group of private PE players including the Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts and TPG acquired Biomet for $11.4 billion in 2007, placing medtech veteran Jeffrey Binder at the helm. Read more
Siemens, GE named among worst-performing device makers of the year | MassDevice.com On Call
March 12, 2014 by Arezu Sarvestani
MASSDEVICE ON CALL — Medtech giants have seen Wall Street bumps so far this year, but several of the company’s in the industry’s top 40 haven’t been so fortunate.
Medtech and diagnostics supplier QMed unveiled its list of the 5 worst-performing companies among the top 40, based on stock prices, and tried to illuminate why the firms may be struggling. Read more
TriVascular Tech aims for $100M IPO
March 11, 2014 by Arezu Sarvestani
California medical device maker TriVascular Technologies is looking to raise as much as $100 million through its initial public offering, the details of which have yet to be finalized.
The stent graft maker said in registration documents that it plans to use the funds to repay a $3.5 million promissory note, plus interest, to medtech titan Boston Scientific (NYSE:BSX). Additional funds will go toward sales & marketing efforts, expanded R&D and general corporate operations. Read more
Layoffs continue for Analogic; shares sink following Q2 earnings report, flat outlook
March 7, 2014 by Arezu Sarvestani
Massachusetts imaging systems maker Analogic missed Wall Street’s mark for another quarter, but the company expects to improve its bottom line as previously planned closures and layoffs begin to bear fruit, even as its market prospects remain flat.
Analogic made progress on restructuring plans announced last year, including closure of a Colorado manufacturing plant and the winding down of another facility in Vancouver, Canada. The measures, tied to a merger with Ultrasonix Medical, resulted in layoffs of about 140 workers, Analogic said at the time. Read more
Semler Scientific closes IPO with more than $10M raised
March 3, 2014 by Arezu Sarvestani
Oregon-based Semler Scientific closed its initial public offering with just over $10 million raised.
The company earlier this month lowered its IPO projection from $15 million to $10 million, anticipating fewer proceeds. Semler ultimately sold about 1.4 million shares of common stock at $7 apiece. Read more
