The Medical Device Business Journal — Medical Device News & Articles | MassDevice
Shares of orthopedic device makers are up this morning after bellwether Biomet Inc. reported preliminary sales numbers indicating 3.8% growth for its fiscal second quarter.
AtriCure Inc. (NSDQ:ATRC) could be poised for a buyout over the next year to 18 months, according to Canaccord Genuity analyst Jason Mills.
Biomet Inc.’s first-quarter losses widened significantly despite nearly 4 percent top-line growth during the three months ended August 31.
The privately owned orthopedics giant posted losses of $39 million on sales of $665 million during the quarter, up 120.2 percent and 3.7 percent, respectively, over Q1 2011.
Analogic Corp. (NYSE:ALOG) said it’s probing whether its BK Medical subsidiary took part in a bribery scheme involving Danish distributors.
Accuray Inc. (NSDQ:ARAY) may be the fish that swallowed the whale, but it might have bitten off more than it can chew judging from its fourth-quarter and fiscal 2011 results.
The Sunnyvale, Calif.-based radiosurgery device maker paid $300 million for its larger rival TomoTherapy in March. That acquisition sent ARAY into the red for both the quarter and full year.
NeuroLogica Corp. and its sister firm, medical imaging giant Analogic Corp. (NSDQ:ALOG), buried the hatchet yesterday, settling a lawsuit accusing Analogic of interfering with NeuroLogica’s acquisitions.
The companies are related by dint of being founded by Bernard Gordon, who’s chairman of NeuroLogica and chairman emeritus at Analogic.
Bernard Gordon, who founded medical imaging giant Analogic Corp. (NSDQ:ALOG) in 1964, is accusing the company of deliberately interfering with acquisitions of his new firm, NeuroLogica Corp.
In a lawsuit filed in the U.S. District Court for Massachusetts, NeuroLogica and co-plaintiffs Gordon and two other NeuroLogica executives accuse Analogic of seeking to prevent another, un-named company from acquiring NeuroLogica in a bid to force a below-market buyout in its own favor.
Analogic Corp. (NSDQ:ALOG) appointed Lars Shaw as its new vice president of global marketing for its ultrasound business.
Shaw will lead the marketing efforts for the company’s Herlev, Denmark-based subsidiary BK Medical.
Shaw was previously global marketing VP for Mountain View, Calif.-based Zonare Medical Systems Inc. and director of worldwide marketing for Mountain View-based Siemens Medical Solutions Inc.’s imaging group, according to Analogic.
BK Medical UK Ltd. is now the only company selling Advanced Medical Diagnostics SA’s prostate examination tool in the United Kingdom.
AMD named the British arm of Herlev, Denmark-based BK Medical ApS, a subsidiary of Peabody, Mass.-based Analogic Corp. (NSDQ:ALOG), as the sole agent for its HistoScanning prostate tissue characterization technology.
Analogic Corp.’s (NSDQ:ALOG) largest business segment posted flat sales, with a 9 percent dip in its bread-and-butter MRI and CT equipment business offsetting stronger sales of specialized ultrasound equipment.
The Peabody, Mass.-based imaging equipment maker posted sales of $103.3 million for the three months ended Jan. 31, essentially flat compared with $102.7 million during the same period last year. Still, net income improved to $3.6 million, compared to $1.4 million for the same period last year, when the company took a $3.5 million hit to its bottom line when it laid off 145 employees, or about 9 percent of its total workforce.
Officials at Analogic Corp. (NSDQ:ALOG) said Dr. Burton Drayer took his name out of the running for a board seat at the Peabody, Mass.-based imaging device maker.
Drayer, the executive vice president for risk and chair of the radiology department at the New York’s Mount Sinai Medical Center, was handpicked by Ramius LLC, a New York-based hedge fund and activist investor group that agitated for changes after Analogic posted dismal results for fiscal 2009. Company officials said Drayer came to his decision after consulting with his employer about sitting on outside boards.
