Second suitor ceded early to Zimmer in chase for Biomet
September 12, 2014 by Brad Perriello
In the early days of Zimmer’s courtship of Biomet, a 2nd suitor emerged who eventually ceded the field to concentrate on “internal projects,” according to a regulatory filing.
And Biomet played hard-to-get, pursuing plans for an IPO until very late in the game and holding out for a higher valuation from Zimmer, according to the filing, which offers a detailed look at exactly how the deal went down. Read more
Kimberly-Clark readies Halyard Health medical device spinout
September 11, 2014 by Brad Perriello
With the spinout of Kimberly-Clark’s former K-C Health Care medical device division slated for Nov. 1, MassDevice.com sat down with Chris Lowery, the Kimberly-Clark executive who’s in line to become the COO of the new company, Halyard Health.
Alpharetta, Ga.-based Halyard, which threw off $1.6 billion in sales last year as K-C Health Care, does about 30% of its business in medical devices and the rest in surgical and infection-prevention products. Lowery, who’s vice president of sales and marketing for K-C Health Care until the spinout goes live, told us that Halyard is well-positioned to take advantage of the new healthcare landscape’s focus on cost reduction and outcomes. Read more
InVivo's stock drops as ex-CEO dumps shares
September 11, 2014 by Arezu Sarvestani
As if InVivo Therapeutics wasn’t having a tough enough time already, the company’s stock is under even more pressure as former CEO Frank Reynolds has been liquidating his position over the last few weeks.
NVIV shares were down about 6% today to trade at 64¢ apiece as of about 1:55 p.m. EST. The stock has dropped more than 40% over the last 3 months and is down nearly 70% since the start of 2014. Read more
Mevion Medical files for $69M IPO
September 12, 2014 by Brad Perriello
Mevion Medical registered for a $69 million initial public offering as it gears up to commercialize its proton therapy system.
The Littleton, Mass.-based company has sold 1 of its Mevion S250 radiation therapy devices to date, according to a regulatory filing. That sale, to the Siteman Cancer Center at Barnes-Jewish Hospital in St. Louis, brought in $7.6 million in revenues for Mevion during the 2nd quarter, according to the filing. Read more
ReWalk Robotics prices IPO at $36M, below range
September 12, 2014 by Brad Perriello
ReWalk Robotics priced its initial public offering below its forecast range, at $12 per share, grossing some $36.0 million for its exo-skeleton suit.
ReWalk, formerly known as Argo Medical Technologies, initially forecast a range of $14 – $16 per share for the 3.4-million-share IPO. That would have raised $47.6 million to $54.4 million; instead, at $12 apiece for 3 million shares, the offering brought in $36 million, according to a regulatory filing. Read more
