Kimberly-Clark to spin out Halyard Health Oct. 31

October 9, 2014 by Alexander Soule

Kimberly-Clark has selected Oct. 31 as the date it plans to spinout its healthcare division, Halyard Health, as a separately traded company.

Shares of the new company, which will be headquartered in Alpharetta, Ga., will trade on the New York Stock Exchange under the symbol HYH. The stocks’s first full day of trading will be on Nov. 3. Read more

3rd FDA panel vote barely favors Boston Scientific's Watchman anti-stroke device

October 9, 2014 by Brad Perriello

An FDA advisory panel offered a mixed view of Boston Scientific’s Watchman heart device today, concluding it is probably safe but not particularly effective in reducing the risk of stroke in patients with a certain type of irregular heart beat.

Despite the lack of likely effectiveness, the panel voted 6-5, with 1 abstention, that the benefits outweigh the risks, with some panelists saying it should be an option for patients. Read more

Irish tax changes may cost U.S. groups billions

October 14, 2014 by MassDevice

Ireland’s plan to close a “Double Irish” tax loophole could cost U.S. companies including Apple and Google billions of dollars, although a new break and pressure to tackle tax avoidance elsewhere means they are unlikely to decamp.

Analysts and tax advisers predict that corporations which need access to the EU’s 500 million consumers will find it difficult to set up equally effective schemes in other member states as Brussels investigates arrangements that involve paying minimal tax rates. Read more

InspireMD drops MGuard stent in the U.S., shares slide

October 14, 2014 by Brad Perriello

InspireMD said today that it’s halting enrollment in a clinical trial of its flagship MGuard stent to focus on developing new drug-eluted stents with an unnamed strategic partner, abandoning plans to bring the MGuard device to the U.S. market.

The news sent NSPR shares down 5.0% to $1.90 apiece as of about 11:30 a.m. today. Read more

ConvaTec owners appoint banks to explore sale: sources

October 15, 2014 by MassDevice

ConvaTec’s owners have appointed Morgan Stanley and Goldman Sachs to explore a sale of the medical device maker which could be worth up to $10 billion, sources familiar with the matter said.

Private equity firms Avista Capital Partners and Nordic Capital are preparing the groundwork for a possible sale or initial public offering in 2015 for the Luxembourg-based company, said the sources who spoke on condition of anonymity because the process is private. Read more