Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This latest feature of MassDevice.com’s coverage highlights our three 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.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.
3. Reuters tracks down mystery Olympus banker in Hong Kong
Akio Nakagawa, the Japanese banker whose company received an unprecedented $687 million payout during the Olympus Corp.’s (TYO:7733) $2.2 billion acquisition of the Gyrus Group in 2008 was found in Hong Kong yesterday by the Reuters news agency.
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2. Acquisition chatter surfaces again for Smith & Nephew
Shares of Smith & Nephew (NYSE:SNN) slipped initially but have regained some of their value since more talk of a possible buyout surfaced in the U.K. last week. The British orthopedics giant is up 2.7 percent on The Street today to $43.94 after flirting with a 52-week low Friday, Nov. 25.
1. Medtronic CFO: We’ll strip another $1.2B in costs over 5 years
Medtronic (NYSE:MDT) CFO Gary Ellis said the world’s largest pure-play device maker plans to shave at least $1.2 billion in costs from its operations, even as the company closes out a five-year, $1 billion initiative that lowered its expenses by 25 percent.
