Lumbar spine surgery company TranS1 Inc. (NSDQ:TSON) raised $18.3 million of a hoped-for $20 million round through public sales of common stock.
The Wilmington, N.C.-based company sold some 6.2 million shares at $3.25, according to SEC filings.
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Lumbar spine surgery company TranS1 Inc. (NSDQ:TSON) raised $18.3 million of a hoped-for $20 million round through public sales of common stock.
The Wilmington, N.C.-based company sold some 6.2 million shares at $3.25, according to SEC filings.
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The new CEO at Wright Medical Group Inc. (NSDQ:WMGI) will make $750,000 a year in base pay and have a shot at another $750,000 in performance bonuses, according to the terms of his deal with the orthopedic device maker.
Wright tapped Robert Palmisano, 67, to be its new chief executive earlier this week. He takes over for interim president David Stevens, who had kept watch since former CEO Gary Henley resigned suddenly after a kickbacks scandal last year.
The new CEO at Wright Medical Group Inc. (NSDQ:WMGI) will make $750,000 a year in base pay and have a shot at another $750,000 in performance bonuses, according to the terms of his deal with the orthopedic device maker.
Wright tapped Robert Palmisano, 67, to be its new chief executive earlier this week. He takes over for interim president David Stevens, who had kept watch since former CEO Gary Henley resigned suddenly after a kickbacks scandal last year.
A federal judge ordered Medtronic Inc. (NYSE:MDT) to produce documents detailing the safety record of its controversial Infuse bone growth protein.
The shareholders’ lawsuit accuses the firm of artificially inflating its stock price with an off-label promotion scheme for a bone morphogenetic protein used in the Infuse device. Medtronic is weathering a spate of lawsuits over the product after a Spine Journal issue this summer revealed serious concerns about its safety.
Lumbar spine surgery company TranS1 Inc. (NSDQ:TSON) priced a public offering of 6.2 million shares of common stock at $3.25 per share, expecting to raise up to $20.2 million.
TranS1 plans to use the funds for additional clinical trials, reimbursement efforts, sales personnel, research and product development activities and working capital, according to SEC filings. It added that funds may go toward acquisition of or investment in technologies, products or assets that complement the business.
Robert Palmisano moved into the corner office at Wright Medical Group Inc. (NSDQ:WMGI) last week, taking over the orthopedics maker amid its ongoing legal troubles.
Palmisano took over for interim president David Stevens, who has kept watch since former CEO Gary Henley resigned suddenly amid the company’s compliance issues.
Wright Medical Group Inc. (NSDQ:WMGI) said it agreed to extend a deferred prosecution agreement with federal prosecutors today, who accused the orthopedic device maker of running a kickbacks scheme drive up implant sales.
PLAINSBORO, N.J. and AUSTIN, Texas, Sept. 12, 2011 (GLOBE NEWSWIRE) — Integra LifeSciences Holdings Corporation (Nasdaq:IART) and Ascension Orthopedics, Inc. (“Ascension”) today announced an agreement for Integra to acquire Ascension, a provider of high quality, innovative products for the foot, hand and shoulder markets, for approximately $65 million in cash, subject to adjustments. When combined with Integra’s legacy business, the products will represent approximately 45% of Integra’s Orthopedics revenues.
Wright Medical Group Inc. (NSDQ:WMGI) is cutting 80 positions, or about 6 percent of its total workforce, in a move aimed at raising its earnings per share, the Arlington, Tenn.-based orthopedic device maker said today.
The plan, initially slated to roll out over the next nine months, will see Wright try to re-shape its international operations, scaling back the products it offers overseas and "streamlining select aspects of its international selling and distribution operations," according to a press release.
ARLINGTON, Tenn.–(BUSINESS WIRE)–Wright Medical Group, Inc. (NASDAQ: WMGI), a global orthopaedic medical
device company and a leading provider of surgical solutions for the foot
and ankle market, announced today that it is implementing a cost
restructuring plan to foster growth, enhance profitability and cash
flow, and build shareholder value. Wright Medical expects that the
initial phase of this plan will be completed during the next nine
months, with additional efficiency initiatives to be implemented
throughout 2012 and beyond.