Smith & Nephew 'working hard' on acquisitions trail, CEO says
April 30, 2015 by Brad Perriello
Smith & Nephew CEO Olivier Bohuon said that the British healthcare giant is “still working hard” at finding acquisitions, seeking emerging market opportunities, bolt-ons and early-stage opportunities.
“[W]e are looking forward to acquire distributors in the emerging market. That is our strategy to become closer to the customers and avoid the distributor in the countries,” Bohuon said during a conference call discussing Smith & Nephew’s 1st-quarter results. Read more
Profound Medical goes public in reverse merger
May 1, 2015 by Mark Hollmer
Profound Medical said it’s slated to hit the public markets in Canada after a reverse merger, also revealing a $24 million private placement to fuel clinical trial work.
The proceeds will help support Profound Medical’s 110-patient pivotal trial of the Tulsa-Pro MRI-guided ultrasound ablation device to treat prostate cancer. Read more
Greatbatch mulls spinout for Algostim SCS business
May 1, 2015 by Brad Perriello
Greatbatch said it’s looking into a spinout for its Algostim spinal cord stimulator business, which would see the subsidiary become an independent, publicly traded company.
Algostim makes the Algovita SCS device, which is designed to treat chronic pain in the trunk or limbs. If a spinout occurs, Greatbatch said it would continue to manufacture Algovita on a contract manufacturing basis. Read more
Wright Medical delays Augment timeline
April 29, 2015 by Brad Perriello
Wright Medical pushed back the timeline for FDA approval of its Augment bone putty, after the safety watchdog said last month that the vendor that makes Augment must undergo another site inspection.
In early February Memphis-based Wright said that an FDA inspection conducted as part of a review of Augment prompted a Form 483 warning to the vendor. Today Wright, in reporting its 1st-quarter earnings, said it asked the FDA to schedule the follow-up inspection on or after May 4. Read more
St. Jude Medical closes Spinal Modulation buy
May 4, 2015 by Brad Perriello
St. Jude Medical said that it closed its buyout of Spinal Modulation May 1, in a bid to extend its reach into the neuromodulation space.
Spinal Modulation makes the Axium device, a neurostimulator designed to treat an area of the spine called the dorsal root ganglion, which contains nerve fibers that carry pain signals to the brain. Read more
