Some medical device businesses not only survived the COVID-19 pandemic but actually thrived — with many producing the medtech needed to fight the coronavirus’s spread. Medical Design & Outsourcing recently analyzed financials for 20 of the largest medical device businesses in the world. Not only was revenue only slightly down for the 20 during 2020, but it was […]
Dental
10 Minnesota medtech startups you need to know
Medical device startups can use all the help they can get, including from government-sponsored investment funds. In Minnesota, one of the nation’s top three medtech hubs, the state Department of Employment and Economic Development (DEED) has distributed $1.6 million per year since 2019 in innovation grants to tech startups — many of them in the […]
SmileDirectClub dips on missed Q4 projections
SmileDirectClub (NSDQ:SDC) shares dipped during pre-market trading today on fourth-quarter results that missed the consensus forecast. The Nashville, Tenn.-based company posted losses of -$32.9 million, or -9¢ per share, on sales of $172.6 million for the three months ended Dec. 31, 2020, for a 66.1% bottom-line gain on a sales decline of -6.2%. SmileDirectClub’s EPS of […]
Dentsply Sirona skyrockets on Street-beating Q4
Dentsply Sirona (NSDQ:XRAY) shares soared this morning on fourth-quarter results that easily topped the consensus forecast. XRAY shares were up 13.7% at $60.35 per share in mid-morning trading today. The Charlotte, N.C.-based dental solutions company posted profits of $99 million, or 45¢ per share, on sales of $1.1 billion for the three months ended Dec. 31, […]
The top 7 medtech CEO quotes on COVID-19, one year later
The latest earnings season has provided insights into the future of medtech in the COVID-19 landscape and what certain sectors are seeing as vaccines start to roll out. Since the start of the pandemic, 113.1 million COVID-19 cases have been reported worldwide, according to Johns Hopkins University School of Medicine. The U.S. leads the world […]
Biolase names new president and CEO
Biolase (NSDQ:BIOL) today announced that it has appointed John Beaver as president and CEO, effective immediately. Beaver replaces Todd Norbe, who has served as president and CEO since August 2018. Beaver previously served as the company’s executive VP, chief operating officer and chief financial officer. “John’s knowledge of the dental industry, combined with his executive management […]
Henry Schein dips despite Street-beating Q4
Henry Schein (NSDQ:HSIC) shares dipped today despite fourth-quarter results that topped the consensus forecast. The Melville, N.Y.-based company posted profits of $142.6 million, or 99¢ per share, on sales of $3.2 billion for the three months ended Dec. 26, 2020, for a -56.8% bottom-line slide on sales growth of 18.6%. Adjusted to exclude one-time items, earnings […]
DTW Podcast: Zimmer Biomet slims, Corza Medical grows in pursuit of grabbing market share
In this week’s DeviceTalks Weekly Podcast, Rich Newitter, managing director at SVB Leerink, says Zimmer Biomet’s decision to spin out its spinal and dental business will accelerate its already impressive market share grab in its core orthopedics industry. Newitter says CEO Bryan Hanson brings a tried-and-true diversification model used by companies like his former employer, […]
SmileDirectClub prices $650M offering
SmileDirectClub (NSDQ:SDC) announced last week that it priced an offering of convertible senior notes worth $650 million. Nashville, Tenn.-based SmileDirectClub is offering $650 million in aggregate principal amount of 0% convertible senior notes due in 2026, according to a news release. The company increased the offering size from the previously announced $350 million with the intention […]
BREAKING: Zimmer Biomet to spin off spine and dental businesses
Zimmer Biomet (NYSE:ZBH) — one of the world’s largest orthopedic device companies — will be a bit smaller going forward. The Warsaw, Ind.–based company announced today that it will spin off its spine and dental businesses into a new, independent, publicly-traded company called NewCo. Zimmer Biomet plans to complete the transaction by mid-2022. The businesses that […]
Align Technology rises on Street-beating, record-breaking Q4 revenues
Align Technology (NSDQ:ALGN) shares skyrocketed today on fourth-quarter results that topped the consensus forecast. ALGN shares were up 13.44% at $619.60 per share in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 2.1%. The Tempe, Ariz.-based dental aligner maker posted profits of $133.8 […]
