UPDATED Sept. 13, 2016, with details on Casey’s move to Lending Club. Acelity CFO Tom Casey is stepping down effective Sept. 16 for the chief finance spot at Lending Club, as Acelity prepares for a $1.75 billion debt offering and a $675 refinancing, the wound care giant said today. Casey is slated to be replaced on an interim […]
Wound Care
Smith & Nephew touts Pico negative-pressure wound therapy in hip, knee surgeries
Smith & Nephew (NYSE:SNN) yesterday released results from a trial of its Pico negative-pressure wound therapy system used in orthopedic surgeries, touting reductions in wound exudate distributions, dressing changes and hospital stays. The 220-patient randomized, controlled trial was carried out over 12 months at the U.K.’s Robert Jones and Agnes Hunt Orthopaedic Hospital NHS Foundation […]
Judge blocks FDA’s move to shutter Amniotic Therapies
A federal judge this month blocked the FDA’s bid to force Amniotic Therapies to shut down completely, ruling instead that the maker of placental tissue-based wound-healing products must only cease distribution until a hearing slated for today in a Texas court. The federal safety watchdog ordered the shutdown August 16 and slapped Farmers Branch, Texas-based […]
FDA: Data show no benefit for anti-microbial wound dressings
Data showing the benefit of adding anti-microbial compounds to wound dressings are scant, the FDA said in supporting documents ahead of an advisory panel meeting next year, calling the available research “equivocal and low-quality.” The FDA’s General & Plastic Surgery Devices Advisory Panel is slated to meet Sept. 20-21 to recommend whether the FDA should reclassify some […]
Infection-detection tech dev Garwood Medical raises $2m in Series A
Garwood Medical raised $2 million in a Series A round of financing to support medical the development of devices which detect and report on possible infections, according to an SEC filing. The company was founded in 2014 and has the exclusive license for 3 patents from the University at Buffalo, and has developed 3 additional […]
Derma Sciences closes $80m deal for BioD
Derma Sciences (NSDQ:DSCI) said yesterday that it closed its acquisition of regenerative allograft maker BioD in a deal worth up to $78 million, including milestones and earn-outs. Princeton, N.J.-based Derma Sciences said it paid $21.3 million up front in a mix of cash and stock; meeting regulatory milestones could mean another $30 million, and the transaction included $26.5 million in earn-outs […]
Covidien spinout Mallinckrodt to acquire Stratatech
Mallinckrodt plc (NYSE: MNK) said today that it agreed to acquire Stratatech and its StrataGraft artificial skin graft technology for an undisclosed amount. Mallinckrodt, the pharmaceuticals business spun out of Covidien in 2013, said the deal also includes Stratatech’s development program for genetically enhanced skin. The acquisition is expected to close before the end of the year, the Dublin-based company […]
Integrated Healing Technologies raises $2m to support wound closure devices
Wound care device developer Integrated Healing Technologies raised $2 million in a new round of equity financing, according to an SEC filing posted today. Integrated Healing Technologies is developing negative pressure wound therapy devices for treating difficult to heal, or chronic, wounds. The company’s system works through removing biofilm, binding and removing pathogens from the […]
Avita Medical pulls down $9m
Avita Medical (ASX:AVH) said yesterday that it raised $9 million in a partially underwritten rights issue for its ReCell device, which is designed to use a patient’s own skin cells to treat burns, chronic wounds and skin defects. Avita, which has offices in Northridge, Calif., Cambridge, U.K. and Perth, Australia, said it issued nearly 100.2 million new shares in the […]
Report: ConvaTec preps $1B IPO
ConvaTec is reportedly seeking investment banks to hire underwriters for an initial public offering that could raise more than $1 billion. The Luxembourg-based medical device company, which makes products for wound care, ostomy care and infusion, is owned by private equity firms Avista Capital Partners and Nordic Capital. Citing “people familiar with the matter,” Reuters reported that ConvaTec […]
Smith & Nephew’s Q1 sales miss the mark
Smith & Nephew (NYSE:SNN) missed expectations with its 1st-quarter revenues, saying sales were off in China and the Middle East, offsetting stronger demand in the U.S. The London-based orthopedics and wound care giant posted sales of $1.14 billion, up 3.0% from Q1 2015; the consensus analyst estimate was for sales of $1.16 billion. Adjusted to exclude the […]