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.
Nevro Corp. said it plans to raise more than $100 million in an initial public offering of stock for its implantable spinal cord stimulation system to treat chronic pain.
Menlo Park, Calif.-based Nevro plans to trade on the NASDAQ exchange under the NVRO, according to a regulatory filing. At the maximum price listed in the registration, the offering would be worth $115 million. Read more
Medtronic said today that it will finance its mega-merger with Covidien using $16 billion in “external financing” instead of the foreign cash it was planning to use, a move that sent shares of both companies soaring on Wall Street.
The move was prompted by the U.S. Treasury Dept.’s move last week to crack down on so-called “inversion deals,” in which a U.S. company acquires a foreign entity – Covidien is domiciled in Ireland but runs its business from Massachusetts – and re-incorporates in that jurisdiction to avoid high corporate tax rates in the U.S. Read more
Edwards Lifesciences is back in Wall Street’s good graces, with shares of the Irvine, Calif.-based heart valve maker approaching all time highs after nearly 2 years of down performance.
Shares of Edwards closed yesterday at $104.28 per share on The Street, marking a 52-week high and are up 55% through the first 9-months of the year. That’s the best the stock has performed since hitting an all time high of $108.45 in October 2012. Read more