Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 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.
3. Pharma the lone Q1 bright spot for J&J
Johnson & Johnson said the effect of a stronger dollar pared 13.2% from its top line during the 1st quarter, but still managed to top Wall Street’s earnings forecast.
The New Brunswick, N.J.-based healthcare conglomerate said the foreign currency effect also prompted it to lower its earnings outlook for the rest of the year, saying it now expects to report adjusted EPS of $6.04 to $6.19, down from prior guidance of $6.12 to $6.27. Read more
2. Big data: IBM enlists Medtronic, J&J, Apple in major healthcare push
International Business Machine unveiled a massive push into healthcare built on its Watson supercomputer, inking deals with Medtronic, Johnson & Johnson and Apple and acquiring assets for its data cloud.
IBM said its Boston-based Watson Health business is building a “Watson Health Cloud,” a “HIPAA-enabled” platform for “physicians, researchers, insurers and companies focused on health and wellness solutions.” The deals with Medtronic, J&J and Apple are aimed at optimizing medical and mobile devices for data collection, analysis and feedback, IBM said. Read more
1. Zimmer extends deadline for $13B Biomet deal
Zimmer said that it’s extending the “outside date” for its merger with crosstown rival Biomet by 3 months as it waits for the U.S. Federal Trade Commission to approve the $13.34 billion deal.
Zimmer said it’s pushing the deadline for the deal back from April 24 to July 23, citing a provision in the agreement with Biomet allowing a 90-day extension if anti-trust clearances aren’t in hand. Read more
