Admedus (ASX:AHZ) dealt its biologic patch business to LeMaitre Vascular (NSDQ:LMAT) in a deal worth up to $24.6 million to focus on the transcatheter aortic valve replacement market. The A$36.2 million buyout of the CardioCel and VascuCel patches called for LeMaitre to put up $14.2 million up front, with another $1.4 million due in a pair […]
3M closes $6.7B Acelity buyout
3M (NYSE:MMM) last week closed the $6.7 billion buyout of wound care giant Acelity from the private equity consortium that took the company private back in 2011. San Antonio, Texas-based Acelity, which had registered for an initial public offering a month before 3M floated its offer, was formed after Apax Partners and a pair of Canadian pension […]
Johnson & Johnson gains on Q3 beats
Shares in JNJ gained this morning after the healthcare giant beat expectations for its third-quarter sales and earnings and raised its outlook for the rest of the year. New Brunswick, N.J.-based J&J posted profits of $4.83 billion, or $1.81 per share, on sales of $20.73 billion for the three months ended Sept. 30, amounting to […]
SEC settles insider trading cases
The U.S. Securities & Exchange Commission said this week that it settled the case against the final five defendants in an insider trading scheme involving involving large corporate mergers. In August 2017, U.S. authorities accused seven individuals of reaping more than $5 million in illicit profits based on tips from Daniel Rivas, whose work at Bank […]
Philips plunges as Q3 prelims disappoint
Shares in Dutch healthcare giant Royal Philips (NYSE:PHG) took a hit today after the company’s preliminary third-quarter sales missed the consensus forecast due to blowback from the trade war between the U.S. and China. Amsterdam-based Philips said it expects group sales to reach nearly €4.7 billion ($5.2 billion), for comparable sales growth of about 6% compared […]
Baxter shifts $2B in pension obligations to insurer
Baxter (NYSE:BAX) this month moved to shift more than $2 billion in pension obligations to some 17,000 retired and former employees off of its books by inking an annuity plan with Prudential Insurance. The Chicago-area healthcare giant said it plans to use assets from the ex-workers’ plan, which it split last year from the existing pension […]
Livongo jumps on federal employee benefits deal
Livongo Health (NSDQ:LVGO) shares jumped yesterday after the company landed a two-year deal with the Federal Employees Health Benefits Program that could add as much as $30 million a year to its top line. Mountain View, Calif.-based Livongo developed a digital health platform to manage chronic diseases, selecting diabetes as its first target. Yesterday the […]
Integer adds US BioDesign’s braided biomedical biz for $15m
Integer (NYSE:ITGR) said yesterday that it acquired US BioDesign‘s braided biomedical business for a minimum of $15 million. The Quakertown, Pa.–based operation makes complex braided and formed biomedical structures for the cardiovascular, neurovascular and general surgery markets. The company also offers product development, materials testing and post-processing services including electropolishing and packaging. The deal calls for […]
Delaware Supremes uphold IDEV founders’ loss in suit against VC backers
The Delaware Supreme Court last week upheld the dismissal of a lawsuit brought by the founder and an executive of Abbott (NYSE:ABT) acquisition IDEV Technologies against venture capital shops they accused of violating their fiduciary duties by diluting their economic and voting interests. The plaintiffs in the case were Jeffrey Sheldon, who co-founded IDEV in […]
Obalon pays off its long-term debt
Obalon Therapeutics (NSDQ:OBLN) said yesterady that it retired the remaining $5 million of its long-term debt facility with Pacific Western Bank. The San Diego-based company, which produces an FDA-approved swallowable, gas-filled intra-gastric balloon for weight loss, had previously cut its debt to Pacific Western Bank from $20 milllion to the remaining $5 million in July, while […]
Frequency Therapeutics prices $84m IPO
Frequency Therapeutics said yesterday that it priced its initial public offering at roughly $84 million. The 6-million-share offering priced at $14 per share and includes a 30-day underwriters option on another 900,000 shares that’s worth $12.6 million, the Woburn, Mass.-based company said. Get the full story at our sister site, Drug Delivery Business News.
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