Johnson & Johnson MedTech announced today that it completed the acquisition of left atrial appendage (LAA) device maker Laminar. The deal, which includes a $400 million upfront payment, adds Johnson & Johnson MedTech to the crowded LAA device space. Established devices like Abbott’s Amplatzer Amulet and Boston Scientific’s Watchman already exist within the market. Medtronic […]
Wall Street Beat
Neuralink raises another $43M for brain-computer interface
Elon Musk’s Neuralink brain-computer interface (BCI) venture recently filed an SEC Form D confirming the sale of $43 million in equity. The SEC filing shows a total of more than $323 million raised by the brain implant maker. After Musk announced in August that Neuralink brought in $280 million, the latest investment totals around $43 […]
Medtronic’s mid-single digit revenue growth continues
Medtronic today reported second-quarter results that beat the Wall Street analysts’ consensus, with the world’s largest medtech company reporting strength across businesses and geographies. Along with a raised full-year guidance, the news sent MDT shares up more than 4% to $78.74 apiece by afternoon trading today. MassDevice‘s MedTech 100 Index was up slightly. The positive […]
Boston Scientific closes Relievant Medsystems acquisition
Boston Scientific announced today that it completed its previously announced acquisition of Relievant Medsystems. In September, Boston Scientific announced plans to acquire Relievant for an upfront cash payment of $850 million. Additional payments are contingent on sales performance over the next three years. Minneapolis-based Relievant developed and commercialized the Intracept intraosseous nerve ablation system for […]
3M has a name for its healthcare business spinoff
3M today announced a name for its healthcare business spinoff, which the manufacturing giant expects to complete during the first half of 2024. What has been 3M Health Care will now be called Solventum. Here’s how 3M explained the name in its news release: “Solventum originates from two words: ‘solving’ and ‘momentum.’ ‘Solving’ captures the […]
Inari Medical closes LimFlow acquisition
Inari Medical announced that it completed its acquisition of chronic limb-threatening ischemia (CLTI) treatment maker LimFlow. The Irvine, California–based company earlier this month announced plans to acquire LimFlow for up to $415 million. The deal came just weeks after Paris-based LimFlow won FDA premarket approval (PMA) for its breakthrough CLTI treatment. Inari Medical intends to […]
Alcon stock dips on Q3 misses, tightened guidance
Alcon shares fell this morning on third-quarter results that missed the consensus forecast. Shares of ALC dipped 6.9% at $69.82 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 1%. The Geneva, Switzerland–based eye care device company posted profits of $204 […]
Vicarious Surgical has more layoffs, pushes back regulatory timeline for surgical robot
Vicarious Surgical (NYSE:RBOT) pushed back expectations on the timeline for its surgical robot as it trimmed its headcount for the second time this year. Shares of RBOT were down nearly 30% to 28¢ apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose […]
Senseonics posts mixed Q3, iCGM designation expected next year
Senseonics (NYSE:SENS) shares remained mostly unchanged today on third-quarter results that came in mixed compared to the consensus forecast. Shares of SENS dipped 0.3% at 51¢ apiece before the market opened today. The Germantown, Maryland-based implantable continuous glucose monitor (CGM) maker posted losses of $24.1 million. That equals 4¢ per share on sales of $6.1 […]
BD stock plummets on mixed Q4 results
BD shares took a hit this morning on fourth-quarter results that came in mixed compared to the consensus forecast. Shares of BDX fell 9.2% at $232.29 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — fell slightly. The Franklin Lakes, New Jersey-based company […]
Acutus Medical is laying off more than half of its workers
Acutus Medical (Nasdaq:AFIB) announced today that it will lay off 65% of its workforce as part of a major restructuring. The Carlsbad, California–based company’s most recent annual report lists 225 workers at the end of 2022, which means the layoff could involve roughly 146 workers. Restructuring will involve winding down Acutus Medical’s EP mapping and […]