October 3, 2014 by Brian Johnson
Edwards Lifesciences is back in Wall Street’s good graces, with shares of the Irvine, Calif.-based heart valve maker approaching all time highs after nearly 2 years of down performance.
Shares of Edwards closed yesterday at $104.28 per share on The Street, marking a 52-week high and are up 55% through the first 9-months of the year. That’s the best the stock has performed since hitting an all time high of $108.45 in October 2012. Read more
October 6, 2014 by MassDevice
Medical equipment supplier Becton Dickinson & Co.has agreed to buy CareFusion, a maker of infusion pumps and other medical devices, for $12.2 billion (7.63 billion pounds) in cash and stock, marking the latest multibillion-dollar healthcare sector deal.
Becton said on Sunday it would pay a total of $58.00 a share – $49.00 in cash and 0.0777 of a share of Becton Dickinson – for each share of CareFusion. This would represent a premium of 26% to the closing price on Oct. 3. Read more
October 2, 2014 by Alexander Soule
Echo Therapeutics’ suspension of operations hasn’t stopped a pair of recently appointed renegade board members from using their perch to agitate for change.
Philadelphia-based Echo, which is developing a wireless blood glucose monitor it calls Symphony, assented to naming directors nominated by Platinum Investors, Dr. Michael Goldberg and Shepard Goldberg. The father-and-son team wasted no time in unveiling a new financial plan for Echo, which was forced to suspend operations last week for lack of cash. Read more
October 7, 2014 by Alexander Soule
The activist investor that owns some 30% of Echo Therapeutics fired back at the company yesterday in the latest salvo of a bitter proxy war, accusing a trio of investors of going “rogue.”
Philadelphia-based Echo was developing a wireless blood glucose monitor it calls Symphony, until abruptly shutting its doors last month. Echo has lacked a permanent CEO since 2013 and is being run by general counsel Kimberly Burke and interim CFO Charles Bernhardt. Read more
October 6, 2014 by Alexander Soule
The war of words between Echo Therapeutics and Platinum Equity resumed today with Echo claiming that the activist investor may have run afoul of federal securities laws with a preliminary proxy statement.
Philadelphia-based Echo has suspended operations until it can find outside investment, but has rejected terms for an infusion offered by Platinum Equity. Today the company’s board urged stockholders to discard any proxy solicitation materials they receive from Platinum. Read more