Federal prosecutors yesterday reportedly accused a political consultant of using his contact at the Centers for Medicare & Medicaid Services as the “secret sauce” in a $7 million insider trading scheme with a well-known healthcare hedge fund. Consultant David Blaszczak, founder of Precipio Health Strategies and the one-time colleague at CMS of Christopher Worrall, pleaded […]
Smiths updates recall for Medfusion syringe pumps
Smiths Medical has amended an urgent medical device recall that it first issued in August for its Medfusion syringe pump model series 3500 and 4000. After acknowledging that a defect in certain models of the pump can cause an “invalid syringe size” alarm to go off, the company added an option for facilities with trained staff […]
Fresenius to pay $2B for NxStage Medical
Fresenius Medical Care (NYSE:FMS; ETR:FRE) said today that it agreed to pay $2 billion to acquire NxStage Medical (NSDQ:NXTM) and the home hemodialysis technology it developed. The $30-per-share deal, which is expected to close this year, represents a 29.6% premium on the August 4 closing price of $23.14 for NXTM shares. The stock was up 25.5% […]
Ex-Medicare employees, traders deny insider trading charges
Former employees at the Centers for Medicare & Medicaid Services pleaded not guilty yesterday to charges that they used confidential information on Medicare reimbursement changes for radiation treatments and dialysis in a nearly $4 million insider trading scheme. Federal prosecutors last month accused political consultant David Blaszczak, founder of Precipio Health Strategies and the one-time colleague at CMS […]
NxStage Medical meets Q1 earnings forecast, beats on sales
NxStage Medical (NSDQ:NXTM) today met the consensus forecast for its 1st-quarter earnings and topped the revenue expectation on Wall Street. The dialysis device maker narrowed its losses by -6.8% to -$1.2 million, or -2¢ per share, on sales of $96.8 million for the 3 months ended March 31, for top-line growth of 8.5% compared with […]
Fresenius slips 1st Naturalyte bellwether trial
Fresenius Medical Care (NYSE:FMS) last week won the 1st bellwether trial in a series of product liability lawsuits brought over its GranuFlo and NaturaLyte dialysis drugs, after a Massachusetts jury found that the plaintiff’s estate failed to prove its case. The trial was the 1st case to go to trial among a group of plaintiffs who declined to enter a […]
Fresenius guides for double-digit growth
(Reuters) — Fresenius (NYSE:FMS) set out new targets for 2020 today, aiming for double-digit annual gains in sales and net income. Sales will grow to between €43 billion and €47 billion ($45.3 billion to $49.5 billion) by 2020, from €29.1 billion in 2016, which is an average annual growth rate of 11.2% at the midpoint of the […]
Judge blocks dialysis aid rule
(Reuters) – A U.S. judge on Thursday put on hold a new federal rule that dialysis providers have said would prevent dialysis patients from using charitable assistance to buy private health insurance. U.S. District Judge Amos Mazzant in Sherman, Texas stopped the rule from taking effect Friday as planned. The decision is a victory for […]
Nephros wins 510(k) for HydraGuard bacterial water filter
Nephros (OTC:NEPH) said today it won FDA 510(k) clearance for its water ionizer review designed for water bacterial filtration. The River Edge, N.J.-based company said its HydraGuard 10″ UltraFilter is designed to provide 6 months of bacterial protection and filtration for potable water sources such as endoscope re-processors, surgical humidifiers and ice machines. “The HydraGuard is a […]
North America business, cost cuts boost Fresenius
Reuters — Cost cuts, business overhauls and the launch of generic drugs in North America benefited German healthcare group Fresenius (ETR:FRE), which slightly upped its earnings guidance following the release of 3rd-quarter results today. Boosted by solid sales growth in North America, the group now expects adjusted net income to rise by 12% to 14%, from […]
Baxter launches Theranova dialyzer in Europe, Down Under
Baxter (NYSE:BAX) said today it launching its novel Theranova HDx hemodialysis therapy system in Australia, New Zealand, France, Germany, Switzerland and Belgium. The device operates around the company’s new Theranova dialyzer designed to extend the range of molecules that it filters from the blood, claiming it “more closely mimics the natural kidney.” ”Through HDx enabled by […]
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