Surgical devices maker ArthroCare (NSDQ:ARTC) this month agreed to extend for 1 more month the statute of limitations on a federal inquiry from the U.S. Dept. of Justice in to the company’s spinal business.
The Austin, Texas-based medical device company posted profits of $9.1 million, or 27¢ per share, on sales of $86.9 million during the 3 months ended Sept. 30. That represents a 4.4% increase in sales and 477.9% bottom-line growth.
NuVasive (NSDQ:NUVA) swung to red for the 4th quarter and full-year 2011, largely on the back of an $18.2 million writedown of intangible assets.
The San Diego-based spinal implant maker posted a loss of $10.0 million, or 24 cents per share, on sales of $150.2 million for the 3 months ended Dec. 31, 2012. That’s a top-line gain of 16.2% compared with Q4 2010, when NuVasive posted profits of $61.9 million, or $1.39 EPS.
A nasty patent spat between Johnson & Johnson’s (NYSE:JNJ) Cordis Corp. and Spectralytics, which a jury decided in the latter’s favor to the tune of $22.4 million, went another round this week after a judge added $500,000 to the damages award.
A Texas doctor accused of unnecessary stenting has slipped three of four trials against him with his license to practice in the Lone Star State intact.
Dr. Samuel DeMaio, accused last year of standard-of-care violations related to nine patients who allegedly received un-needed stents, angiograms and ICD implants, had pushed for a trial after mediation efforts with the Texas Medical Board collapsed.
ArthroCare Corp. (NSDQ:ATRC) settled a shareholders’ lawsuit by agreeing to an $8 million payment from its insurers, more than a quarter of which will go to the plaintiffs’ lawyers, according to court documents.
The Austin, Texas-based surgical device maker copped in 2009 to a scheme by which personal injury lawyers would refer patients to doctors who would then use one of ArthroCare’s spinal surgery devices. The 2009 announcement also detailed restated earnings for the previous four years.
Intersect ENT Inc. announced a landmark win for its flagship Propel drug-eluting implant for treatment of chronic sinusitis.
The Palo Alto, Calif.-based company’s device claims to be the first of a new category of devices offering localized, controlled steroid delivery directly to sinus tissue.