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.
Get this in your inbox everyday by subscribing to our newsletters.
Hill-Rom shares took a hit today after the company reported that fiscal 2nd-quarter sales missed expectations despite the contribution of new acquisition Welch Allyn.
Chicago-based Hill-Rom said profits were $22.3 million, or 33¢ per share, on sales of $632.6 million for the 3 months ended March 31, for a -14.6% bottom-line slide on sales growth of 33.2%. Adjusted to exclude 1-time items, earnings per share were 71¢, a penny ahead of expectations on Wall Street. Read more
Pavmed said today that its initial public offering grossed $5.3 million, after extending the flotation last month for an extra 45 days.
Pavmed is developing devices in 5 areas, according to its IPO registration: The PortIO long-term implantable vascular access device; the Caldus line disposable tissue ablation devices, including renal denervation for hypertension; the CarpX percutaneous device to treat carpal tunnel syndrome; the NextCath self-anchoring short-term catheter; and the NextFlo disposable infusion pump. Read more
Merit Medical chief Fred Lampropoulos said his company is ready to take advantage of the worldwide recall of rival Cook Medical‘s central catheter sets.
The FDA in March slapped the Cook recall with a Class I label, denoting the risk of serious injury or death. It covers Cook’s single lumen central venous catheter sets and trays, single lumen pressure monitoring sets and trays, femoral artery pressure monitoring catheter sets and trays and radial artery pressure monitoring catheter sets and trays. Read more
Stryker said today that paid $52 million (£35.6 million) in cash for SIW Holdings subsidiary Stanmore Implants, which makes medical devices for limb salvage in patients with orthopedic cancers.
“The acquisition of Stanmore Implants provides Stryker with differentiated technologies designed to provide the most effective solutions for orthopedic oncology surgeons. This addition underscores Stryker’s commitment to our core joint replacement business and expands our presence in the global orthopedic oncology market,” Stryker Orthopaedics president David Floyd said in prepared remarks. Read more
Alere said yesterday that it rejected an offer from Abbott to pay up to $50 million to spike their pending, $5.8 billion merger, even as news broke of Abbott’s $25 billion bid for St. Jude Medical.
The Chicago-area healthcare giant’s nearly $6 billion acquisition of Alere, the Waltham, Mass.-based diagnostics firm drew scrutiny after Abbott CEO Miles White appeared to throw some shade on it last week; the U.S. Justice Dept. has opened a probe into Alere’s sales practices and shareholders have sued to block the deal. Read more