Boston Scientific (NYSE:BSX) announced today that it is taking actions in response to the COVID-19 pandemic, including pay cuts. In anticipation of an even larger impact from the coronavirus outbreak in the second quarter, the Marlborough, Mass.-based company said in a news release that it is taking proactive steps to reduce costs so it can […]
Stryker, Boston Scientific changing financial outlook in wake of COVID-19
Stryker (NYSE:SYK) and Boston Scientific (NYSE:BSX) announced that they are withdrawing some of their financial guidance for the first quarter and full-year 2020 amid the COVID-19 pandemic. Originally, Kalamazoo, Mich.-based Stryker reported an expected organic sales growth for 2020 to be in the range of 6.5% to 7.5% and its full-year earnings per share to range between […]
How will coronavirus affect medtech companies that rely on elective surgeries?
One thing is likely to hurt some medtech companies more than others during the coronavirus pandemic: an elective surgical procedure slowdown. This thought had begun to emerge last week among industry watchers, but a pair of tweets over the weekend gained thousands of “likes” and retweets. The American College of Surgeons called for hospitals to […]
Medical device company stocks aren’t immune from coronavirus
Major U.S. medical device company stocks have generally performed as poorly as others over the past two weeks as the global coronavirus outbreak drive markets down. Among 20 of the largest U.S. companies on Medical Design & Outsourcing and MassDevice‘s annual Big 100 list, both the average and median decline in price was roughly 17% […]
Boston Scientific settles Canadian pelvic mesh case for $21.5m
Boston Scientific (NYSE:BSX) has agreed to settle a transvaginal mesh class action lawsuit brought by women in Canada for $21.5 million, according to a report by the Canadian Press. The proposed settlement involves about 325 women whose share of the money would depend on the severity of their medical issues, the news service reported. Final approval […]
Is Medtronic eyeing LivaNova for a takeover?
Some industry analysts are speculating that Medtronic (NYSE:MDT) might want to acquire LivaNova (NSDQ:LIVN) for its neuromodulation business. A source told financial intelligence company Reorg last week that someone pitched the idea to Medtronic, which would divest LivaNova’s cardiovascular business and “certain MDT cardiac surgery products.” “Five sector advisors said such a deal would make sense as […]
Black History Month: This inventor laid the foundation for today’s pacemakers
Most people in medtech know of Earl Bakken’s contributions to pacemakers and cardiac rhythm devices, but without Otis Boykin, pacemakers wouldn’t have the pacing technology they do today. Boykin, an African-American inventor and engineer, had a special interest in resistors. His mother died from heart failure when he was 1 year old. Thirty-one years later, […]
Boston Scientific posts mixed bag Q4 results
Boston Scientific (NYSE:BSX) posted fourth-quarter results that beat the earnings consensus on Wall Street, but missed on revenue. The Marlborough, Mass.-based company reported profits of $4 billion, or $2.83 per share, on sales of $2.9 billion for the three months ended Dec. 31, 2019, for a bottom-line gain of 935.2% sales growth of 13.43% compared with […]
Boston Sci issues urgent field safety notice for Maestro cardiac ablation system
Boston Scientific (NYSE:BSX) issued an urgent field safety notice to warn of a firmware installation update for its Maestro 4000 cardiac ablation system after issues with radiofrequency delivery. In June 2018, Boston Scientific notified customers of the potential for the unintended continuation of radiofrequency energy emitted from the device after releasing its foot switch. After releasing […]
These medical device companies provide the most research payments
The worlds largest medical device companies are spending tens of millions of dollars a year on research payments to doctors and teaching hospitals — but the payments only make up a tiny fraction of their budgets. That was a big takeaway from an analysis of Medical Design & Outsourcing‘s annual Big 100 and the most […]
Collagen Matrix hires ex-Boston Scientific GM as CEO
Collagen Matrix announced that it appointed former Boston Scientific (NYSE:BSX) executive Shawn McCarthy as its new CEO and as a member of its board of directors, effective Jan. 27. A nearly 30-year veteran of the medical device industry, McCarthy most recently served as GM of structural heart valves at Boston Scientific. There, he was responsible for […]
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