Baxter (NYSE:BAX) and Greatbatch (NYSE:GB) subsidiary Lake Region Medical are laying off workers in Colorado, according to a Worker Adjustment and Retraining Notification Act notice. Baxter, which is planning to shutter a plant in Englewood, Colo., over the next year, will cut 106 jobs as a result, according to the April 5 WARN notice. Last October, Deerfield, Ill.-based Baxter said it planned to […]
Baxter
Report: Baxter to shutter Colorado plant
Baxter (NYSE:BAX) is reportedly planning to shutter a plant in Englewood, Colo., over the next year. “Baxter has informed employees in its [Douglas County] … facility of the company’s plans to exit the facility over the next 12 months to enable effective deployment of the company’s product portfolio in order to best meet the needs of […]
AngioDynamics CEO DeVivo out, ex-Covidien exec Clemmer in | Personnel Moves for April 4, 2016
1. AngioDynamics CEO DeVivo is out, ex-Covidien exec Clemmer is in AngioDynamics (NSDQ:ANGO) said today that president & CEO Joseph DeVivo stepped down to “pursue other interests” and was replaced by ex-Covidien bigwig James Clemmer, effective today. DeVivo joined Latham, N.Y.-based AngioDynamics in September 2011. “We thank Joe for his contributions and commitment to AngioDynamics over […]
Baxter wins expanded EU indication for Hemopatch
Baxter (NYSE:BAX) said today it won CE Mark approval in the European Union for an expanded indication for its ready-to-use surgical Hemopatch. The Deerfield, Ill.-based company’s Hemopatch is now cleared for use in closing dural defects including excision, retraction or shrinkage of the dura mater following traumatic injury. The patch is also cleared as a hemostatic […]
Baxter to further trim stake in Baxalta ahead of $32B Shire buyout
Baxter (NYSE:BAX) plans to further trim its stake in Baxalta (NYSE:BXLT), the biopharm business it spun out last year, reducing its ownership to 5.1% ahead of Baxalta’s $32 billion takeover by Shire (NSDQ:SHPGY). In January, Baxter cut its stake in Baxalta from 19.4% to 13.8%. In the latest move, Deerfield, Ill.-based Baxter will exchange about 59.4 million Baxalta shares […]
Baxter launches trial for Vivia home hemodialysis system
Baxter (NYSE:BAX) said today that it’s launching a clinical trial of the Vivia home hemodialysis device it’s co-developing with famed inventor Dean Kamen’s DEKA Research & Development Corp. The Vivia system is designed to provide shorter but more frequent dialysis rounds than conventional dialysis. The device has already won CE Mark approval in the European Union for use with […]
J&J’s Ethicon touts Evarrest in study of aortic repair
Johnson & Johnson (NYSE:JNJ) subsidiary Ethicon is touting a Phase III clinical study of its Evarrest fibrin sealant patch in surgeries to repair the aorta, saying the patch handily beat Baxter‘s (NYSE:BAX) competing TachoSil product. Ethicon said the 156-patient Evarrest CV trial showed that hemostasis was achieved within 3 minutes and maintained throughout the surgery for 75% of the Evarrest cohort, […]
Fonar taps MR scan inventor and founder’s son as CEO | Personnel Moves
Fonar Corp (NSDQ:FONR) said yesterday it named Timothy Damadian, son of magnetic resonance scanning inventor and company founder Dr. Raymond Damadian, as its new president and CEO. The younger Damadian worked with Fonar for 16 years, eventually becoming veep of operations. He formed Fonar subsidiary Health Management Corporation of America, which manages medial and diagnostic […]
Baxter ticks up on Street-beating Q4, 2015 results
Baxter (NYSE:BAX) shares ticked up today after the healthcare giant posted 4th-quarter and full-year numbers that beat expectations on Wall Street, despite a massive bottom-line slide for both periods and a Q1 earnings forecast that came in below The Street’s outlook. Deerfield Park, Ill.-based Baxter reported profits of $205 million, or 37¢ per share, on sales […]
Court approves Baxter’s $43m settlement deal in shareholders suit
A federal judge last week approved the $42.5 million settlement of a class-action securities lawsuit brought against Baxter (NYSE:BAX) over the recall of its Colleague infusion pump and a too-rosy assessment of its plasma business. The lead plaintiff in the case, the National Elevator Industry Pension Fund, alleged in September 2010 that Deerfield Park, Ill.-based Baxter misled investors about […]
Angiodynamics CFO Frost resigns, moves to Analogic | Personnel Moves
AngioDynamics (NSDQ:ANGO) said today its CFO and exec veep Mark Frost resigned from his position to join Analogic (NSDQ:ALOG) as senior veep, treasurer & CFO. AngioDynamic’s veep and global controller Michael Trimach will serve as Interim CFO as the company searches for a permanent replacement. The Albany, N.Y.-based company said Frost will stay on to facilitate a smooth […]