Angiotech Pharmaceuticals, which rebranded in 2013 as Surgical Specialties Corp., said today that it agreed to be acquired by a syndicate led by Chinese venture capital shops Vivo Capital and ZQ Capital for an undisclosed amount. Blackstone Group’s GSO Capital Partners, China Orient Asset Management and Fung Shing Investments also joined the transaction, which is slated […]
Surgical Specialties to shutter Pennsylvania plant
Surgical instruments maker Surgical Specialties is planning to permanently shutter a plant in its hometown of Reading, Pa., this spring, meaning layoffs for roughly 254 workers.
Bidding war for Carestream heats up | Wall Street Beat
At least 5 major private equity players are vying for medical device company Carestream Health, including Bain Capital, Carlyle Group and KKR & Co., according to Reuters.
Onex Corp. is hoping to unload Carestream, formed in the 2007 spinout of Eastman Kodak Co.’s healthcare business, for up to $3.5 billion, the news service reported.
Angiotech hands $363M in interventional assets back to Argon Medical
Angiotech Pharmaceuticals plans to retire all of its outstanding debt obligations with part of the $362.5 million it stands to gain through the sale of its interventional products business back to Argon Medical Devices.
Angiotech narrows losses following bankruptcy, restructuring
Angiotech Pharmaceuticals unveiled its 3rd quarter results, demonstrating narrowed losses in the year following the company’s bankruptcy and restructuring efforts.
Angiotech settles severance beef with former president & CEO for $6.5M
Angiotech Pharmaceuticals reached an agreement in principal with former president & CEO William Hunter to settle a matter regarding Hunter’s termination payments, with Hunter receiving more than double the company’s initial cash offer.
World Heart’s 2011 sales go negative | Earnings roundup
Gingrich’s health consulting group goes under | Wall Street Beat
The Center for Health Transformation, a health care think tank launched by GOP presidential hopeful Newt Gingrich, filed for Chapter 7 bankruptcy this week, listing liabilities of between $1 million and $10 million that it says it can’t repay.
The organization’s assets, which it listed in court filings at between $50,000 and $100,000, will be liquidated and the business may subsequently close.
Study: Cordis Corp.’s TrapEase vena cava filter shows high fracture rate
TrapEase permanent vena cava filter
A new study reported a high fracture rate among permanent inferior vena cava filters made by Cordis Corp., a device-making arm of Johnson & Johnson (NYSE:JNJ).
In a Japanese study of 20 patients with Cordis’ TrapEase IVC filter, the devices fractured in half the patients at 50 months.
Mako Surgical boosts Q3 sales, losses still widen | Earnings Roundup
Shares of Mako Surgical (NSDQ:MAKO) are down 6.6 percent since the robotic surgery firm reported wider third-quarter losses, despite a nearly 67 percent increase in sales.
Mako reported losses of $9.7 million, or 24 cents per share, on sales of $20.0 million during the three months ended Sept. 30.
LeMaitre lowers 2011 guidance, spikes stent graft business
LeMaitre Vascular Inc. (NSDQ:LMAT) says it will close a Laguna Hills, Calif. manufacturing facility the company picked up in last year’s $2.8 million buyout of Angiotech Pharmaceuticals Inc.’s (NSDQ:ANPI) Lifespan vascular graft business.
The Burlington, Mass.-based cardiac device maker is expected to complete the closure by the end of the third quarter and move production to its Massachusetts facility.
