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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Dr. Robert Califf’s tenure as commissioner of the FDA, which formally began only last February, will reportedly end less than a year after it began.
Califf, like most political appointees in Washington, is slated to resign Jan. 20 ahead of the swearing-in of Donald Trump as president, according to Politico, citing FDA spokeswoman Jennifer Rodriguez. Read more
Intuitive Surgical shares gained after it posted preliminary financial results for the 4th quarter, beating analysts’ expectations on Wall Street.
The Sunnyvale, Calif.-based company said it expects a total revenue of $757 million for Q4, up from $677 million in the same period last year. Analysts were looking for sales of $739.7 million in Q4. Intuitive also said it anticipates a full-year revenue of $2.7 billion, compared to the Street’s $2.4 billion consensus. Read more
ReWalk Robotics is reportedly planning to cut its operating expenses by 30% in 2017, a move that’s slated to include layoffs for an unspecified number of workers.
The Marlborough, Mass.- and Israel-based company said it aims to meet its goal partially via a “reduction in staffing.” ReWalk had 87 employees as of December 2015, according to a regulator filing. Read more
Globus Medical saw its shares tick upwards after it beat analysts’ expectations on Wall Street with its preliminary 4th quarter financial results.
The Audubon, Pa.-based company said it expects a total revenue of $151.6 million for Q4, a 6.3% increase from the same period in the 2015. Analysts were looking for sales of $149.2 million. Globus also reported that it anticipates a full-year revenue of $564 million, ahead of The Street’s $560 million consensus. Read more
Integra LifeSciences said yesterday that it agreed to pay nearly $200 million for Derma Sciences and its line of wound care products.
The $7-per-share deal includes a line of regenerative allograft products derived from human placental tissue that Derma Sciences acquired when it paid nearly $80 million for BioD last year. Integra also agreed to pay $32 per share Series A preferred stock and $48 per share for Series B preferred stock in Derma Sciences, according to a regulatory filing. The deal, slated to close by the end of the 1st quarter, is due to be funding using Integra’s existing credit line, the company said. Read more