LeMaitre Vascular Inc. (NSDQ:LMAT) picked up Angiotech Pharmaceuticals Inc.’s (NSDQ:ANPI) Lifespan vascular graft business for $2.8 million and spiked a distribution deal Angiotech had with former Lifespan owner Edwards Lifesciences Corp. (NYSE:EW).
C.R. Bard Inc.’s (NYSE:BCR) peripheral vascular unit sued a pair of competitors over a patent covering its prosthetic vascular grafts made from expanded polytetrafluoroethylene.
The lawsuit, filed in the U.S. District Court for Arizona, accuses Endologix Inc. (NSDQ:ELGX) and Atrium Medical Corp. of infringing Bard’s patent for "Prosthetic Vascular Graft." Bard alleges that Atrium’s Advanta line of grafts and stents, its iVena vascular patch and Flixene graft violate the patent and that Endologix runs afoul with its Powerlink stent grafts.
After easily beating Wall Street estimates for the second quarter, LeMaitre Vascular Inc. (Nasdaq:LMAT) is boosting guidance for the rest of 2010.
The Burlington, Mass.-based maker of stents, grafts, carotid shunts, catheters and vascular surgical tools said that sales during the three months ended June 30 reached $14.2 million, a 12 percent bump over the same span in 2009 and topping consensus analyst opinion for the quarter by roughly $500,000. Net income was $1.5 million, a 63 percent increase from the $925,000 profit LeMaitre reported in the June 2009 quarter.
Covidien plc (NYSE:COV) consummated a $2.6 billion deal to acquire ev3 Inc. (NSDQ:EVVV), hours after closing its tender offer for shares in the Minnesota vascular device maker.
Mansfield, Mass.-based Covidien shelled out $22.50 per share for about 100.8 million ev3 shares. That $2.27 billion gave it roughly 87.7 percent of ev3’s outstanding shares and cleared the way for a Covidien holding company to complete the merger without any further input from ev3 stockholders.
ev3 Inc. (NSDQ:EVVV) agreed to settle a group of lawsuits filed by shareholders looking to block its $2.6 billion buyout by Covidien plc (NYSE:COV).
The lawsuits, filed in the Hennepin County District Court for Minnesota and Delaware’s Court of Chancery, accused the Plymouth, Minn.-based company’s board of breaching its fiduciary duties in giving a green light to the merger and of failing to disclose how it evaluated the offer from Covidien, according to regulatory filings.
Covidien plc (NYSE:COV) agreed to acquire ev3 Inc. (NSDQ:EVVV) for about $2.6 billion in cash in a move that substantially expands its footprint in the peripheral vascular market.
A pair of Connecticut medical device firms won regulatory nods in the U.S. and Europe.
SurgiQuest Inc. won 510(k) clearance from the Food & Drug Administration for its new line of 5mm AnchorPort laparoscopy trocars and Vascular Insights LLP landed CE Mark approval in Europe for its ClariVein Occlusion Catheter.
SurgiQuest touts its device’s ability to adjust for differences in each patient, calling it "the world’s first elastomeric single incision laparoscopy kit."
Mansfield, Mass.-based medical products conglomerate Covidien plc inked a sole-source agreement with the Upper Midwest Consolidated Service Center and Mayo Clinic for its anti-deep vein thrombosis products.
Covidien’s Kendall SCD Sequential Compression System and A-V Impulse System Foot Pump will be distributed in 122 hospitals across 10 states.
Vascular Insights is touting the results of an independent clinical trial examining the use of its ClariVein catheter to treat varicose veins.
The trial, conducted by Dr. Steve Elias of Mount Sinai Hospital in New York, indicated that the ClariVein procedure was as successful initially as radiofrequency or laser treatment, according to a press release.
Medtronic Inc. (NYSE:MDT) won pre-market approval from the Food & Drug Administration for its Complete SE vascular stent to be used to treat peripheral artery disease in the pelvis.
It’s a key win for the Fridley, Minn.-based medical device monolith, which in February was accused in a whistleblower lawsuit of illegally marketing biliary stents to treat conditions they’re not approved for by the FDA.