Zimmer Holdings (NYSE:ZMH) announced layoffs at its Warsaw, Ind., headquarters, pointing to the expected burden of the medical device tax as partly responsible for some of the losses.
The orthopedics device maker plans to offset the entire burden posed by the impending 2.3% device levy in 2013 through cost-cutting efforts, part of which include layoffs.
Angeion Corp. (NSDQ:ANGN) narrowed its 1st-quarter losses despite flat sales for the 3 months ended Jan. 31.
Although dragged down by a tough European climate, focusing on group purchasing organization and service revenues kept the company’s sales from sliding, the cardiorespiratory diagnostic systems maker said.
Campbell Rogers is leaving his post as chief scientific officer for Johnson & Johnson’s (NYSE:JNJ) Cordis Corp. – a role created for him in July 2006 – to take the chief medical officer job at startup HeartFlow.
Updated February 1, 2012 at 5:30 p.m.
The $372 million buyout of Navilyst Medical by AngioDynamics (NSDQ:ANGO) is a reset button that will reinforce the combined operation for the future, AngioDynamics CEO Joe DeVivo told MassDevice this afternoon.
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.
AngioDynamics (NSDQ:ANGO) saw its first-quarter profits slump despite posting a 5.7 percent top-line increase during the three months ended August 31.
The Albany, N.Y.-based medical device maker reported net income of $1.4 million, or 5 cents per share, on sales of $54.4 million for the quarter. That compares with profits of $1.9 million, or 8 cents EPS, on sales of $51.5 million during the same period last year.
Angeion Corp. slipped into the red during the third quarter, reversing a $136,000 profit into an $81,000 loss for the three month period that ended on July 31, 2011.
Officials at the St. Paul, Minnesota-based cardiorespiratory diagnostic device maker blamed the reversal on legal fees and severance payouts to former CEO Philip Smith, who the company sacked after just five months on the job.
Smith was named Angeion’s CEO in November 2010, but departed after less than six months in charge.
Here’s the latest personnel changes from medical device, diagnostics and life science companies around the nation. For more recent hirings and firings, check out MassDevice’s compilation of the latest personnel moves.
Angeion Corp.’s (NSDQ:ANGN) FY2011 earnings for its second quarter ending April 30 reported $138,000, or 4 cents per diluted share, in losses, 75.3 percent better than the $559,000 in losses, or 13 cents per diluted share, for the same time last year.
The decreased losses amount to a 69.2 percent difference for the company’s diluted share value.
Sales decreased by less than 1 percent from second quarter FY2010’s $6.9 million to $6.8 million, reported for the second quarter this year.