The strong dollar put a -7.3% hurt on Johnson & Johnson‘s (NYSE:JNJ) medical device sales during the 3rd quarter, the company said today, reporting a -29.3% hit to the bottom line on an overall sales decline of -7.4% compared with Q3 2014. Medical device sales were $6.09 billion during the quarter, off -7.3% despite U.S. revenue growth […]
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UPDATE: St. Jude Medical closes $3B Thoratec buy
St. Jude Medical (NYSE:STJ) yesterday closed its $3.3 billion buyout of Thoratec, a day after the implantable heart pump maker’s shareholders approved the $63.50-per-share deal. “St. Jude Medical is excited to bring together 2 companies that are considered heart failure therapy leaders and build on our established franchise that is now uniquely positioned to offer physicians and patients innovative solutions across […]
Cardiovascular Systems plunges on Q1 prelims
Cardiovascular Systems (NSDQ:CSII) shares plunged 19% today after the medical device company missed expectations with its preliminary fiscal 1st quarter numbers. St. Paul, Minn.-based Cardiovascular Systems said it expects to post net losses of -$13.1 million to -$13.9 million, or -41¢ to -43¢ per share, on sales of $43.9 million. Analysts were looking for losses per share of […]
Unilife taps CEO Shortall for loan to forestall default
Unilife (NSDQ:UNIS) yesterday said it tapped chairman & CEO Alan Shortall for a loan so it could avoid defaulting on its $60 million debt with OrbiMed. Wayne, Pa.-based Unilife said it borrowed $600,000 from Shortall so it could maintain the $5 million cash balance required by the OrbiMed loan and still make a payment on the loan. […]
Haemonetics slumps on lowered outlook
A week after revealing the departure of CEO Brian Concannon, Haemonetics (NYSE:HAE) yesterday lowered its outlook for fiscal 2016, saying it expects lower revenues from Russia and Japan and the slow uptake on its HaemoCloud software during the 2nd half of the year. Braintree, Mass.-based Haemonetics, which is slated to release its fiscal 2nd-quarter results Nov. 4, said […]
Sientra hits 52-week low on Brazil’s Silimed implant ban
Shares of Sientra (NSDQ:SIEN) plunged a further 20% today to a 52-week low after Brazilian regulator Anvisa last week suspended the production, sale and use of products made by Brazil’s Silimed, Sientra’s sole supplier of breast implants. The news follows a decision last month by the U.K.’s Medicines & Healthcare Products Regulatory Agency to suspend sales of Silimed implants, including breast, […]
Activist investor fights HeartWare’s $766m Valtech buy
Activist investor Engaged Capital, a recent backer of HeartWare International (NSDQ:HTWR), is trying to block the implantable heart pump maker’s $766 million buyout of Valtech Cardio. The deal for Valtech calls for an up-front payment of 4.4 million shares of HeartWare stock, plus potential milestones of 800,000 shares when Valtech’s Cardioband annuloplasty device wins CE Mark approval in […]
Hill-Rom raises outlook after $2B Welch Allyn buy
Hill-Rom Holdings (NYSE:HRC) today raised its earnings outlook for its fiscal 4th quarter and full year 2015, a little more than 2 weeks after closing its $2.05 billion acquisition of Welch Allyn. Chicago-based Hill-Rom said it now expects adjusted 4th-quarter EPS of 80¢ to 82¢, up from prior guidance of 76¢ to 79¢. Full-year adjusted EPS are now pegged at $2.55 […]
Sientra plummets on U.K. breast implant halt
Shares of breast implant maker Sientra (NSDQ:SIEN) plummeted some 53% yesterday after British medical regulators suspended sales of implants made by Sientra’s Brazilian supplier Silimed. The U.K.’s Medicines & Healthcare Products Regulatory Agency yesterday said it and other European regulators are testing Silimed’s products – which include breast, penile and testicular implants – after contamination was detected during an audit of […]
CEOs: The medtech investment climate is improving but getting tighter
By Scott Wooldridge The climate for investment in medical device companies is improving but getting tighter, as biotech and pharma horn in on the recovering economy, according to a pair of medtech CEOs speaking at last night’s DeviceTalks: Minnesota event. Entellus Medical (NSDQ:ENTL) CEO Bob White and Martha Shadan, president & CEO at Rotation Medical, spoke with LifeScience Alley CEO Shaye […]
Hansen Medical pulls the trigger on 1-for-10 reverse stock split
Hansen Medical (NSDQ:HNSN) this week pulled the trigger on a reverse 10-for-1 stock split in which HNSN shareholders received 1 share for every 10 they owned. The reverse split went into effect Sept. 22, according to a regulatory filing, sending HNSN shares down -13% to $4.35 apiece. The stock was trading at $4.26 per share in […]