Spinal firm K2M aims for $100M IPO
March 14, 2014 by Arezu Sarvestani
Spinal surgery devices maker K2M Group Holdings hopes to raise as much as $100 million through its impending initial public offering, according to registration documents filed with the SEC.
The Virginia -based company has yet to reveal per-share pricing and other details of the IPO, but has said that it hopes to use the funds to wipe out some debts and pay out some dividends. The company said that it owes about $22.3 million in outstanding debt on its shareholder notes, $23.5 million on an outstanding credit facility and $15.7 million in unpaid dividends on Series A and B preferred stock. Read more
Proxy war brews as activist investor Oracle targets Biolase board
March 17, 2014 by Arezu Sarvestani
Biolase came under fire by its largest shareholder, the activist investment firm Oracle Partners, which accused Biolase chairman & CEO Federico Pignatelli of manipulating the company’s board of directors.
Oracle, which owns 16.4% of Biolase’s shares, filed a lawsuit seeking court-mandated changes to the board as well as a temporary restraining order requiring that board members seek approval before taking any actions. Oracle responded that it will respond to Oracle in court and that it plans to address recommended board changes “in due course.” Read more
From Medical Design & Outsourcing
- EPA delayed notifying residents of ethylene oxide emissionsThe EPA delayed notifying neighbors of an Illinois medical device sterilization plant of ethylene oxide (EtO) emissions the agency measured in 2018, according to an inspector general’s report released yesterday. The report also says that “leadership” in the agency’s Office of Air and Radiation also failed to conduct public meetings with residents either near the… […]
- 9 medical devices you should keep an eye out for in 2021The medical device industry weathered the COVID-19 pandemic well — and is now set to roll out a host of innovations in 2021. Economists generally expect the U.S. to see a boom as we emerge from the pandemic and resulting recession. Medtech companies appear set to ride the wave this year, with plans to seek… […]
- Greenlight Guru to provide QMS to NIH diagnostics programNIH has chosen Greenlight Guru to provide quality management software for its COVID-19 rapid diagnostics program. The agency launched the Rapid Acceleration of Diagnostics (RADx) program in March 2020 to speed the development, commercialization and implementation COVID-19 testing technologies. As the only QMS provider currently available to all projects in the RADx program, Greenlight Guru… […]
- MicroCare names CFOMicroCare (New Britain, Conn.) has announced the appointment of John Stardellis as the company’s new chief financial officer (CFO). Stardellis joins MicroCare with more than 20 years’ experience in a variety of finance, policy and operational leadership roles. Most recently, he served as CFO at i-Health, a division of DSM Nutritional Products. “John’s track record with… […]
- Mayo Clinic helps launch two new companies for improved diagnosticsMayo Clinic announced that it is introducing a new technology platform to support two new companies it has launched. Rochester, Minn.–based Mayo Clinic’s Remote Diagnostics & Management Platform (RDMP) is designed to connect data with new AI algorithms and augment human decision-making within existing clinical workflows, according to a news release. Get the full story… […]
- Intertek gains FDA nod for premarket device testingIntertek has won accreditation under an FDA pilot program for testing laboratories, the company said this week. The accreditation authorizes Intertek’s 12 “medical centers of excellence” to perform premarket testing of devices for the U.S. market. The Accreditation Scheme for Conformity Assessment pilot program is a voluntary program developed to provide increased confidence in testing… […]
- HHS shoots down ‘flawed’ plan to let some devices skip reviewThe Biden administration has nixed what it described as a “flawed” Trump-era decision to exempt certain medical devices — including infusion pump controllers and fetal monitors — from regulatory review. HHS published the original notice in the Federal Register on Jan. 15, shortly before President Joe Biden was set to take office, without speaking with… […]
- More than 50 medtech testing sites win FDA pilot accreditationThe FDA announced today that more than 50 laboratory sites were chosen to participate in its program for streamlined regulatory reviews. In total, 53 sites made the FDA’s initial list for participation in its Accreditation Scheme for Conformity Assessment (ASCA) program, which will set out to support more streamlined regulatory reviews of medical device market… […]
- Medline Industries up for sale?Medline Industries is looking for a buyer in a deal that could be worth $30 billion, according to a report in the Wall Street Journal. The Journal cites “people familiar with the matter” saying that Northfield, Ill.-based Medline has hired Goldman Sachs to manage the process. The people added that the company might alternatively seek… […]
- Micro to add plant in Costa RicaContract manufacturer Micro today announced plans to open a new plant in Costa Rica. The 32,000 ft² facility will significantly increase Micro’s cleanroom assembly capacity, according to the Somerset, N.J.-based company. It will be located in the Zona Franca Metro business park and is expected to open in late 2021 with operations beginning in 2022.… […]
- Survey shows solid medical device industry performance despite pandemicBy Stewart Eisenhart, Emergo Group Medical device and IVD manufacturers report healthy performance over the course of 2020, but also faced significant operational and regulatory challenges related to the coronavirus pandemic. Get the full story here at the Emergo Group’s blog. The opinions expressed in this blog post are the author’s only and do not… […]
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