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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5. NuVasive raises guidance on Q2 earnings release
NuVasive Inc. significantly lifted its guidance for the year after reporting 2nd quarter earnings that topped Wall Street’s expectations and saw sales and revenue grow significantly from last year’s 2nd quarter.
The San Diego, Calif.-based company reported profits of $30.2 million, or 57¢ per share, on sales of $236.2 million for the 3 months ended June 30. That amounts to a massive 194.2% bottom-line gain as sales grew 16.4% compared with the same quarter in 2015. Read more
4. Bard Q2 earnings top estimates
C.R. Bard released its 2nd quarter earnings yesterday, topping the Street’s expectations and adjusting its outlook for the rest of the year.
The Murray Hill, N.J.-based company reported profits of $159.2 million, or $2.11 per share, on sales of $931.5 million for the 3 months ended June 30. Read more
3. Alphatec deals international biz to Globus Medical for $80m
Alphatec said today it entered into an agreement with Globus Medical to sell its international operations and distribution channels for $80 million.
Alphatec said the deal includes a 5-year senior secured credit facility for up to $30 million from Globus Medical. Read more
2. Edwards shares rise on Street-topping Q2
Edwards Lifesciences shares have risen almost 8% after releasing 2nd quarter numbers that saw significant growth from last year and topped analyst expectations.
The Irvine, Calif.-based company reported profits of $126 million, or 58¢ per share, on revenue of $759.3 million for the 3 months ended June 30. That amounts to a 12.3% bottom-line gain as sales grew 23.1% compared to the same quarter in 2015. Read more
1. Boston Scientific acquires RFA manufacturer Cosman Medical
Boston Scientific said today it picked up Burlington, Mass.-based radiofrequency ablation system manufacturer Cosman Medical for an undisclosed amount.
Through the acquisition, Cosman Medical’s team and products will be folded into Boston Scientific’s neuromodulation business, the company said. Read more
