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. Teleflex taps Kelly to succeed Smith as CEO
Teleflex said this month that CEO Benson Smith will retire from the corner office by the end of this calendar year. Smith will continue to serve as the company’s chairman of the board.
Liam Kelly, president & chief operating officer, was tapped to succeed Smith as CEO for the Wayne, Pa.-based company. Read more
4. LivaNova slips despite Q4, 2016 earnings beats
LivaNova eked out an earnings beat for its 1st full year as a public company, despite missing expectations for its top line, but share prices still fell today in early trading.
LivaNova, formed by the $3 billion merger of Sorin Group and Cyberonics in 2015, posted losses of -$29.8 million, or -61¢ per share, on sales of $310.6 million for the 3 months ended Dec. 31. Adjusted to exclude 1-time items, earnings per share were 85¢, 4¢ ahead of the consensus on Wall Street, where analysts were looking for sales of $318.8 million. Read more
3. Abbott wins FDA nod for FlexAbility sensor-enabled ablation cath
Abbott said today it won FDA approval for its sensor-enabled FlexAbility ablation catheter designed for cardiac ablation procedures to treat atrial flutter.
The sensor-enabled FlexAbility ablation catheter is the Abbott Park, Ill.-based company’s 1st designed to collect electrical current resistance and magnetic data to produce accurate mapping and assist in treating sites that trigger or sustain abnormal heart rhythms. Read more
2. Intersect ENT reels in losses, beats revenue estimates for Q4
Shares in Intersect ENT fell slightly today even though the drug-device company met expectations on Wall Street with its 4th quarter results.
The Menlo Park, Calif.-based company pared losses to -$4.8 million, or -17¢ per share, on sales of $24.2 million for the 3 months ended Dec. 31, for bottom-line growth of 15.8% on sales growth of 28.7% compared with the same period last year. Read more
1. Alere slides after revealing new Asia accounting snafu
Alere said today that it’s once again unable to file its annual report by the deadline, after an ongoing probe into its accounting practices turned up yet another irregularity, this time with how it recognized revenues in Asia.
The news adds fuel to the fire over the pending $5.8 billion acquisition of Waltham, Mass.-based Alere by Abbott; both companies have filed lawsuits over the merger, with Abbott eager to spike the deal and Alere insisting that it go through. Read more
