Medical device investment rose during Q2, even as deal volume fell | Wall Street Beat

PricewaterhouseCoopers

Medical device investment deals got fatter and less frequent during the second quarter, as the value of deals grew 9 percent but their number slid 17 percent, according to PricewaterhouseCoopers.

Backers pumped $841 million into med-tech firms with 90 deals during the three months ended June 30, according to the consulting firm’s MoneyTree report. That’s up 26 percent and 3 percent, respectively, over the first quarter. The industry’s share of the venture capital cash spend on life sciences last quarter ticked down to 40 percent, however, compared with Q1 numbers.

Smith & Nephew rebounds after dip on Citi downgrade | Wall Street Beat

MassDevice.com Wall Street Beat

Shares of Smith & Nephew (NYSE:SNN) were on the rebound today after a downgrade by analysts at Citi sent them spinning down nearly 4 percent yesterday.

SNN shares closed Sept. 21 at $45.39, but opened at $43.88 the next morning, down 3.3 percent on news of the downgrade. The stock closed yesterday at $43.68, down 3.8 percent. Smith & Nephew closed out today at $44.57, up 3.0 percent from yesterday’s low-water mark of $43.28 but still 1.8 percent shy of Thursday’s close.

Neoprobe no more? Neoprobe sells device arm and name to Devicor for up to $50 million | Acquisitions roundup

Neoprobe
Devicor

Cancer diagnostics firm Neoprobe Corp. (NYSE Amex:NEOP) gave up more than its radiation detection arm in a recent deal with Devicor Medical Products Inc.; it gave up its name.

The deal, worth $30 million up front and up to $20 million in royalties over the next six years, transforms Dublin, Ohio-based Neoprobe into a pure player radiopharmaceutical company, complete with a new identity.

Hologic touts record revenues | Earnings Roundup

Hologic

Hologic Inc. (NSDQ:HOLX) reported growth in sales and booming earnings its third quarter ended June 25, driven by increased revenues in its breast health sector, which includes its 3D mammography system.

Breast health revenues grew 8 percent to $205 million, compared to $189 million during the same period last year.

Becton Dickinson swaps out CEO | Personnel Moves

BDX

Becton, Dickinson & Co. (NYSE:BDX) picked a new man for the corner office this week with the announcement that Vincent Florenza will join the board of directors and take the reins from current board chairman and CEO Edward Ludwig on October 1, 2011.

Biotronik: J&J ran “sham” recall | Legal Roundup

Biotronik
Conor Medsystems
J&J

A Johnson & Johnson (NYSE:JNJ) subsidiary allegedly issued a sham recall of its drug-eluting CoStar coronary stent and spiked a distribution deal with Biotronik AG that cost the German medical device giant $100 million, according to a lawsuit filed in New York’s highest court.

Medical device makers spend $620k on 2011-2012 election cycle

Political donations

Medical device makers dropped at least $623,250 on the 2011-2012 election cycle, according to a MassDevice examination of a federal database that tracks corporate donations to legislators and political actions committees, known as PACs.

Abbott Laboratories (NYSE:ABT) alone accounted for more than 45 percent of the donations, spending a total of $282,000 — nearly $100,000 to individual members of Congress and the rest to various PACs, according to the Federal Election Commission’s online database.

Patent infringement plaintiffs rejoice: Appeals court raises the bar for inequitable conduct | Legal News

Abbott
Becton, Dickinson

A federal appeals court made it harder for defendants in patent infringement cases to use an "atomic bomb" defense tactic called inequitable conduct in a lawsuit between an Abbott (NYSE:ABT) subsidiary and Becton, Dickinson & Co. (NYSE:BDX).