Say hello to MassDevice +5, a bite-sized view of the top five medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 5 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
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C.R. Bard today released Q1 earnings which significantly topped expectations, as well as announcing its $24 billion acquisition by Becton Dickinson & Co., sending shares through the roof, up more than 20% in early-day trading.
The Murray Hill, N.J.-based company posted profits of $178.1 million, or $2.37 per share, on sales of $938.8 million for the 3 months ended March 31, for bottom-line growth of 53.3% while sales grew 7.5% compared with the same period last year. Read more
Medtronic said today it launched the next-gen S8 version of its StealthStation neurosurgical intraoperative imaging and navigation system.
The StealthStation S8 includes upgrades to its software interface, a 2-cart platform design and electromagnetic technology, the Fridley, Minn.-based company said. Read more
Royal Philips shares have risen nearly 5% today after the medical device and healthcare product maker posted 1st quarter earnings that beat expectations on The Street, despite weak sales growth.
The Amsterdam-based company posted profits of $281 million (EU €259 million), or 27¢ (EU €0.25) per share, on sales of $6.2 billion (EU €5.7 billion) for the 3 months ended March 31, for a massive 600% growth on the bottom-line while sales grew 3.8% compared with the same period in 2016. Read more
Medtronic and Abbott are withdrawing select high-value stents from the Indian market following cost caps imposed by the Indian National Pharmaceutical Pricing Authority, according to a Financial Express report.
Medtronic has filed to remove its Resolute Onyx stent from the market, while Abbott filed to remove both its Absorb and Alpine stents. Read more
Becton Dickinson said yesterday that it inked an agreement with C. R. Bard to acquire the medtech company for $317.00 per Bard common share in cash and stock, valuing the deal at $24 billion.
Franklin Lakes, N.J.-based BD said it plans to create a new segment within the company, BD Interventional, to incorporate Bard’s businesses. BD also named Tom Polen as president of BD, effective immediately. Polen, who previously served as the executive VP and president of the company’s medical segment, will oversee the new interventional arm of the company. Read more