FTC wants more data on Medtronic-Covidien deal, but analysts aren't worried
August 7, 2014 by Arezu Sarvestani
The anti-inversion commotion in Washington, D.C., is “more bark than bite” and unlikely to turn into reform in time to damage Medtronic’s $43 billion deal with Covidien, according to analysts with Morgan Stanley.
Democrats have won support from the White House for efforts to penalize companies that relocate their corporate headquarters outside of the U.S. in order to benefit from lower tax rates, but Republicans won’t be so eager to play along, the analysts wrote. Read more
Greatbatch acquires Uruguay's CCC Medical Devices
August 12, 2014 by Brad Perriello
Greatbatch said today that it paid an unspecified amount to acquire a Uruguayan medical device company.
Montevideo-based CCC Medical Devices makes implantable pulse generators, programmer systems, battery chargers, patient wands and leads, according to a press release. Read more
T2 Biosystems IPO raises $57M for MRI-based diagnostics
August 7, 2014 by Arezu Sarvestani
Massachusetts-based T2 Biosystems fell below target with its initial public offering today, raising $57 million in support of its MRI-based diagnostic systems.
The company had hoped to raise closer to $68 million, or as much as $78.2 million according to the IPO cap it registered last week. TTOO shares were supposed to sell for $15-$17 each, but opened on the Nasdaq stock exchange this morning at $11. Read more
Strong Q4, $750M buyback give CareFusion a boost
August 8, 2014 by Arezu Sarvestani
CareFusion posted a stellar 4th-quarter, posting double-digit growth in revenues and earnings and beating Wall Street’s estimates.
The company reported a 28% increase in profits on a 24% increase in sales during the 3 months ended June 30, 2014. Adjusted earnings came in 9% higher than analysts’ consensus projection. Read more
Baxano: Strong Q2, new patents can't appease Wall Street
August 8, 2014 by Arezu Sarvestani
Baxano Surgical just can’t seem to do right by Wall Street.
The device maker saw shares drop hard in the days following the release of its 2nd-quarter financial report, which showed a 20% increase in sales and a 31% narrowing of losses. The company also landed 2 new patents for spinal devices, but shares have continued to slide all year. Read more
