• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Sorin, Cyberonics jump after Italian court clears way for $3B merger

Sorin, Cyberonics jump after Italian court clears way for $3B merger

August 20, 2015 By Brad Perriello

Sorin and Cyberonics mergerShares of Sorin Group (BIT:SRN) and Cyberonics (NSDQ:CYBX) jumped today after the medical device companies said the way is clear for the consummation of their $2.7 billion merger.

Sorin said a Milan court dismissed a claim brought by an Italian state attorney seeking to prevent Sorin from dodging a $3.76 billion environmental lawsuit filed against its former corporate parent.

“We welcome the court’s expeditious review of this matter and we continue to make good progress towards the creation of LivaNova. We will continue to diligently dialogue with the competent Italian authorities on the issues that have been raised,” CEO André-Michel Ballester said in prepared remarks.

Cyberonics, which also crushed expectations for its fiscal 1st quarter today, said it’s slated to hold a shareholders meeting Sept. 22 for a vote on the deal. The companies said they expect the deal to close during the 4th quarter.

Houston-based Cyberonics posted profits of $12.4 million, or 47¢ per share, on sales of $81.0 million for the 3 months ended July 24, for an -8.1% bottom-line ebb on sales growth of 12.5%.

Analysts on Wall Street, however, were looking for sales of just $76.8 million and adjusted earnings of 62¢, which Cyberonics beat by a full dime.

The merger and earnings news sent SRN shares up 5.0%, to €2.73 apiece, in late-day activity. CYBX shares were up 6.8% to $64.50 apiece.

Filed Under: Cardiovascular, MassDevice Earnings Roundup, Mergers & Acquisitions, Neuromodulation/Neurostimulation

More recent news

  • Medtronic reports first patient treated in study of multi-organ denervation for hypertension
  • Baxter turns to an automation company for its new CEO
  • Pristine Surgical appoints new CFO
  • Boston Scientific wins expanded FDA nod for Farapulse PFA
  • FDA warns on issue with J&J Abiomed pump controllers related to 3 deaths

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy