TransEnterix (NYSE:TRXC) said yesterday that it agreed to amend a previously announced sale agreement with Great Belief International for the AutoLap system. On July 10, Research Triangle Park, N.C.-based TransEnterix announced that it dealt the AutoLap assets it had acquired in October 2018 along with Medical Surgery Technologies to Great Belief International for $47 million. This week, […]
Intuitive Surgical gains on Q3 beats
Intuitive Surgical (NSDQ:ISRG) shares gained in pre-market trading today after the robot-assisted surgery pioneer posted third-quarter results that beat expectations for both sales and earnings. Sunnyvale, Calif.-based Intuitive reported profits of $396.8 million, or $3.33 per share, on sales of $1.23 billion for the three months ended Sept. 30, marking a 35.7% bottom-line gain on sales […]
Report: Sanofi is shopping SepraFilm unit to Baxter
Sanofi (NYSE:SNY) is said to be in advanced talks with BAX to sell its Seprafilm surgical products business for up to $400 million. SepraFilm is designed to prevent adhesion after abdominal surgeries. The French drugmaker, which acquired SepraFilm in 2011 when it paid $20.1 billion for Genzyme, wants to close the deal “with the next few […]
Integer narrows outlook on fiscal year change
Integer (NYSE:ITGR) this week changed its fiscal year to correspond with the calendar year, prompting it to guide toward the low end of its sales outlook for 2019. The change to calendar-year accounting from a 52/53-week fiscal year means two less business days this year. Get the full story at our sister site, Drug Delivery Business […]
Titan Medical plunges on suspended timeline for Sport surgical robot
Titan Medical (TSX:TMD) shares lost nearly half their value this morning after the medical device company suspended the timeline for its Sport robot-assisted surgery device. Earlier this year the Toronto-based company pushed back the timeline for its 501(K) submission to the FDA from late this year to the first half of 2020. But late yesterday Titan […]
Abbott shares dip on Q3 meet-and-miss
Abbott (NYSE:ABT) shares are down in pre-market trading after the healthcare giant posted third-quarter results that just met the consensus earnings forecast but missed on revenues and narrowed its outlook for the rest of the year. Abbott Park, Ill.-based Abbott reported profits of $960 million, or 53¢ per share, on sales of $8.08 billion for […]
Admedus deals biologic patch business to LeMaitre Vascular for $24m
Admedus (ASX:AHZ) dealt its biologic patch business to LeMaitre Vascular (NSDQ:LMAT) in a deal worth up to $24.6 million to focus on the transcatheter aortic valve replacement market. The A$36.2 million buyout of the CardioCel and VascuCel patches called for LeMaitre to put up $14.2 million up front, with another $1.4 million due in a pair […]
3M closes $6.7B Acelity buyout
3M (NYSE:MMM) last week closed the $6.7 billion buyout of wound care giant Acelity from the private equity consortium that took the company private back in 2011. San Antonio, Texas-based Acelity, which had registered for an initial public offering a month before 3M floated its offer, was formed after Apax Partners and a pair of Canadian pension […]
Johnson & Johnson gains on Q3 beats
Shares in JNJ gained this morning after the healthcare giant beat expectations for its third-quarter sales and earnings and raised its outlook for the rest of the year. New Brunswick, N.J.-based J&J posted profits of $4.83 billion, or $1.81 per share, on sales of $20.73 billion for the three months ended Sept. 30, amounting to […]
SEC settles insider trading cases
The U.S. Securities & Exchange Commission said this week that it settled the case against the final five defendants in an insider trading scheme involving involving large corporate mergers. In August 2017, U.S. authorities accused seven individuals of reaping more than $5 million in illicit profits based on tips from Daniel Rivas, whose work at Bank […]
Philips plunges as Q3 prelims disappoint
Shares in Dutch healthcare giant Royal Philips (NYSE:PHG) took a hit today after the company’s preliminary third-quarter sales missed the consensus forecast due to blowback from the trade war between the U.S. and China. Amsterdam-based Philips said it expects group sales to reach nearly €4.7 billion ($5.2 billion), for comparable sales growth of about 6% compared […]
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