Hemosphere Inc, which makes a vascular access device that’s used by dialysis patients, raised more than $9.3 million in an equity sale, according to a regulatory filing.
Vascular
Boston Scientific wins expanded indication from FDA for iliac nerve stent
Boston Scientific Corp. (NYSE:BSX) won pre-market approval from the Food & Drug Administration to use its Express LD Premounted stent in iliac arteries.
The expanded indication, which the company had expected during the first quarter, should help the Natick, Mass.-based device maker’s sagging peripheral interventions business, which makes stents, balloon catheters, sheaths, wires and vena cava filters used to treat peripheral vascular disease.
The segment posted a 3 percent sales decrease last year, at $661 million compared to $684 million in 2008.
“We definitely see [the new indication clearance] as a boost,” Boston Scientific spokesman Paul Donovan told MassDevice.
Orthofix deals vascular unit to Covidien for a $19 million net
Orthofix International NV (NSDQ:OFIX) sold its vascular compression products business to Covidien (NYSE:COV) in a deal it said should yield about $19 million Orthofix will use to pay down its debt.
The Dutch firm, which maintains its U.S. headquarters in Boston, said the deal includes its AV-Impulse mechanical compression technology and is aimed at focusing on "strategic market segments that represent long term growth potential," CEO Alan Milinazzo said in prepared remarks.
LeMaitre ends 2009 in the black
LeMaitre Vascular Inc. (NSDQ:LMAT) ended 2009 swinging from red to black, riding strong sales in its vascular division to positive top- and bottom-line growth for the year.
The Burlington, Mass.-based peripheral vascular device maker posted sales of $13.6 million during the three months ended Dec. 31, 2009, up 13 percent compared with the $12 million in sales the company reported during the same period in 2008.
The increased sales helped the company boost its bottom line to $1.3 million, compared to a $312,000 profit for Q4 2008.
Covidien’s Q3 sales slip but profits rise
Covidien saw its third-quarter profits rise 4 percent, largely due to a strong contribution from its U.S.-based medical device business units, which helped soften the blow dealt by weaker-performing segments.
Total net sales reached $2.5 billion for the three-months ended June 30, a 3 percent decline from the $2.6 billion the Mansfield-based device leviathan posted during the same period last year. Covidien attributed most of the slide to poor currency exchange rates.
But the company still managed to produce impressive margins, north of 54 percent, incrementally higher than last year’s third-quarter margins.
LeMaitre Vascular’s sales slow, but Q1 losses narrow
LeMaitre Vascular shrugged off slower sales during the first three months of 2009 to narrow its net loss, but restructuring charges kept the company out of the black.
The Burlington-based company, which makes a wide array of products and implants for vascular disease, said sales fell slightly during the first quarter, reaching $11.4 million compared with $11.8 million during the same period last year — a 4 percent slip.