3M (NYSE:MMM) is planning to finance its $6.7 billion acquisition of Acelity in part with a $3.3 billion debt offering. Maplewood, Minn.-based 3M, which announced its purchase of wound care giant Acelity in May, launched a four-part bond sale yesterday. 3M expects to finance the Acelity buyout with all of the net proceeds from the […]
Organogenesis boosts outlook on higher Q2 sales
Organogenesis (NSDQ:ORGO) beat The Street on sales for the second quarter of 2019 and boosted its outlook for the rest of the year amid continued strong sales growth in its wound-care business. The Canton, Mass.–based regenerative medicine company reported a loss of $9.65 million, or -11¢ per share, on sales of $64.95 million for the […]
Report: Smith & Nephew mulls shift to U.S. listing
The board of directors at Smith & Nephew (NYSE:SNN) reportedly discussed shifting its stock listing from the U.K. to the U.S., partly to free its CEO from British pay restrictions. The orthopedics and wound care giant last year tapped former Alere chief Namal Nawana to replace the retiring Olivier Bohuon. At Alere, Nawana pulled down […]
Gel-e gains breakthrough device nod for internal bleeding control device
Wound-care startup Gel-e said today that it has won FDA breakthrough status designation for its first internal-use flowable device. The College Park, Md.-based company’s first product, Life Foam, is an expanding, injectable hemostat designed to rapidly provide temporary control of bleeding from non-compressible abdominal wounds that are not suited to tourniquet application in trauma and battlefield […]
MiMedx claims win in proxy war with ex-CEO
MiMedx (NSDQ:MDXG) today claimed an early win in its proxy war with the CEO it fired for cause last year, saying that shareholders elected its slate of directors to the board, including new chief executive Timothy Wright. Marietta, Ga.-based MiMedx makes regenerative and therapeutic biologics using human placental tissue allografts. The ouster last year of then-CEO […]
ACell to pay $15m to settle secret recall charges
ACell last week pleaded guilty to a charge that it failed to report a recall of its MicroMatrix wound dressing and settled charges that it violated the False Claims Act, agreeing to pay $15 million to put the matter to rest, the U.S. Justice Dept. said. Columbia, Md.-based ACell also agreed to abide by a […]
ConvaTec helps fund wound management research grants
ConvaTec (LON:CTEC) said today that it has joined the European Wound Management Association (EWMA) to launch three grants for wound management research. The grants will be available to nurses, doctors and scientists working in the field of wound management. ConvaTec’s contribution of approximately $34,000 will be split across three themes: Process redesign to improve quality […]
MediWound lands $21m extension from BARDA to support NexoBrid
MediWound (NSDQ:MDWD) said today that the U.S. Biomedical Advanced Research and Development Authority (BARDA) upsized a contract with the company to provide a supplemental $21 million in funding. The newly acquired funding will be used to help launch the NexoBrid expanded access treatment protocol with the company’s NexoBrid product. The NexoBrid is a topically-administered product intended […]
MiMedx: Ex-managers cooked the books, went after whistleblowers
The former management team at MiMedx (NSDQ:MDXG), led by ex-CEO Parker Petit, allegedly enacted a scheme to cook the books at the regenerative medicine company, retaliated against anyone who questioned their sketchy accounting practices and secretly filmed their offices, according to a probe the company launched after the scheme blew up last year. In February 2018, […]
5 ways medtech research aims to help veterans
As the United States prepares to honor its war dead on Memorial Day, medtech researchers are working to help survivors wounded in battle, both in body and mind. Whether the research comes out of government, industry or academia, there’s also a desire to help veterans facing other health challenges. The work is evolving. 3D printing […]
Report: Vericel to supply Epicel-based grafts for baby born without skin
Vericel (NSDQ:VCEL) is growing skin grafts using its Epicel product to help a baby born in Texas without skin, according to a recent Boston Business Journal report. The company said yesterday that it is creating grafts with its Epicel skin replacement product for newborn Ja’bari Gray, who has been in intensive care since being born earlier […]
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