MASSDEVICE ON CALL — Baxter (NYSE:BAX) said the U.S. Securities & Exchange Commission wants documents on the recalls of a pair of its infusion pumps, which the FDA forced from U.S. shelves in 2010.
Baxter
Varian and Siemens launch global radiosurgery deal | Wall Street Beat
Medtronic, J&J, Abbott make the list of 100 best corporate citizens for 2012
A clutch of med-tech titans made the grade for Corporate Responsibility magazine’s 100 best corporate citizens for 2012.
CR selected companies based on their recent track record in areas such as human rights, philanthropy, employee relations and environmentalism, encompassing 318 data elements in total.
Among the honorees was Minneapolis, Minn.-based Medtronic (NYSE:MDT), the world’s largest pure-play medical device maker, which came in at #50.
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[sead] “Being a good corporate citizen is an important part of our mission,” Medtronic chairman & CEO Omar Ishrak said in prepared remarks.
Democratic “buyers’ remorse” for health care law? | MassDevice.com On Call
MASSDEVICE ON CALL — A growing number of Democrats are voicing concerns about President Barack Obama’s Affordable Care Act ahead of election season, Healthwatch reported.
Criticisms came from both houses of Congress, including Rep. Dennis Cardoza (D-Calif.), Rep. Brad Miller (D-N.C.), Rep. Barney Frank (D-Mass.), Sen. Jim Webb (D-Va.) who wondered whether the measures came too fast and too soon.
Second med-tech giant posts beat-&-meet Q1: Baxter
Device makers lack green initiative, report says | MassDevice.com On Call
MASSDEVICE ON CALL — A look at the top 10 medical device makers found that more than half had little to no environmental initiatives in place.
In a study conducted by Green Research, the companies with stainability initiatives were:
Globus Medical files for IPO | Wall Street Beat
Globus Medical filed for an initial public offering yesterday, saying it’s planning a reverse split of its existing stock just before the IPO launches.
The Audubon, Pa.-based orthopedic device maker, which ran afoul of the FDA last month, said it hopes to trade under the "GMED" ticker on the New York Stock Exchange.
Analyst: CRM market “bad as it’s ever been” | Wall Street Beat
The cardiac rhythm management market is "about as bad as it has ever been," according to an analyst with Gabelli & Co., due in part to headwinds from a federal probe and a negative journal article.
Kensey Nash recoups on Angio-Seal settlement with St. Jude | Legal Roundup
Moody’s estimates med-tech tax impact
The 2.3% tax on revenues slated to go into effect next year for medical device makers could top $650 million for the med-tech companies covered by Moody’s Investor Services, according to a report by the ratings agency.
The tax will help slow EBIDTA growth rates for the med-tech sector to between 1% and 4% over the next year to 18 months, according to Moody’s, with organic growth rates of between 2% and 3% during that period.
St. Jude Medical rebounds after “Greek tragedy” | Wall Street Beat
Shares of St. Jude Medical (NYSE:STJ) clawed back some of the value lost yesterday in what 1 waggish analyst termed a “Greek tragedy.”
STJ shares closed down 3.3% yesterday at $39.96 when the company revealed a $56 million writedown after a Greek distributor failed to pay up for an estimated 2 years worth of sales.