MASSDEVICE ON CALL — The 2012 list of the world’s most ethical companies included a handful of medical device makers and group purchasing organizations, according to the research-based Ethisphere Institute.
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Covidien confirms superDimension buyout
Covidien (NYSE:COV) confirmed that it’s agreed to acquire medical device maker superDimension, saying it will pay about $300 million plus possible earnouts in a deal expected to close during the 2nd quarter.
The Mansfield, Mass.-based medical products giant said it plans to integrate superDimension, which makes the i-Logic pulmonology device, into its medical device segment’s endomechanical portfolio.
Sanofi snags hydrogel maker Pluromed for an undisclosed amount
French health care giant Sanofi (NYSE:SNY) signed a definitive agreement to acquire hydrogel maker Pluromed for an undisclosed amount.
Sanofi plans to commercialize Woburn, Mass.-based Pluromed’s LeGoo polymer plug, an injectable gel used during surgical procedures in place of a clamp or snare.
Sorin’s 2011 sales stay flat, profits soar | Earnings Roundup
Sorin Group (BIT:SRN) reported flat sales but strong profit growth for 2011, saying it raised earnings by 48.3% and revealing that the cardiac rhythm management slump has made its way across the pond.
The Italian medical device maker posted net income of €58.0 million (~$75.2 million) on sales of €743.4 million (~$963.4 million) for the year ended Dec. 31, 2011. That compares with profits of €39.1 million (~$50.7 million) on sales of €745.8 million (~$966.5 million) during 2010.
MassDevice.com +3 | The top 3 med-tech stories for March 15, 2012.
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.
Sorin’s 2011 sales stay flat, profits soar
Sorin Group (BIT:SRN) reported flat sales but strong profit growth for 2011, saying it raised earnings by 48.3%, also revealing that the cardiac rhythm management slump has made its way across the pond.
The Italian medical device maker posted net income of €58.0 million (~$75.2 million) on sales of €743.4 million (~$963.4 million) for the year ended Dec. 31, 2011. That compares with profits of €39.1 million (~$50.7 million) on sales of €745.8 million (~$966.5 million) during 2010.
Standard & Poor’s gives Medtronic an A+ | Wall Street Beat
Standard & Poor’s Ratings Services affirmed Medtronic’s (NYSE:MDT) long-term debt’s “A+” rating yesterday, after the med-tech titan announced another debt offering.
The rating agency said its view of Medtronic’s senior unsecured notes and its stable rating outlook “reflect the company’s ‘strong’ business risk profile and ‘modest’ financial risk profile.”
Study: Heart hole closure no better than meds for preventing stroke | MassDevice.com On Call
MASSDEVICE ON CALL — A catheter-based procedure to close holes in patients’ hearts proved no better at preventing recurrent strokes than medication alone, according to a study published today in the New England Journal of Medicine.
Researchers compared use of NMT Medical’s StarFlex septal closure system with drug therapy against drug therapy alone, concluding that there were no statistically significant differences in stroke prevention between the 2 options for patients with patent foremen ovale, a hole between the upper chambers of the heart.
The power of observational studies
My colleage Gary Schwitzer at HealthNewsReview.org has a post today questioning the validity of observational studies (where epidemiological researchers look at selected variables in large populations to see if there is a relationship between a cause and effect).
Medtronic prices $1.1B senior notes offering
Med-tech titan Medtronic (NYSE:MDT) priced a debt offering worth $1.07 billion, saying it plans to use the funds for "general corporate purposes, which may include repayment of its indebtedness."
The Fridley, Minn.-based device maker offered $675 million in 3.125% senior notes due 2022 and $400 million of 4.5% senior notes due 2042, according to a press release.
Report: Covidien to acquire superDimension for $350M | Wall Street Beat
Covidien (NYSE:COV) is set to close a $350 million buyout of Israeli lung diagnosis firm superDimension by the end of the week, according to Israeli business journal Calcalist.
Founded in Tel Aviv by Pinchas Gilboa, Minneapolis-based superDimension, which employs about 120 people worldwide, also has offices in Dusseldorf, Germany.