The Medical Device Business Journal — Medical Device News & Articles | MassDevice
Baxter International Inc. (NYSE: BAX) put aside $200 million in equity to invest in early-stage companies that "complement" its portfolio.
The newly established " Baxter Ventures will invest globally and focus on innovative technologies with sustainable long-term growth" under the watch of the Deerfield, Ill.-based company’s chief scientific officer Norbert Riedel, according to a press release.
Brooks Automation Inc. (NSDQ:BRKS) continued its upward trend as second-quarter revenues nearly quadrupled, leading to the company’s first profitable earnings period since Q3 2007.
The Chelmsford-based semiconductor imaging components maker reported profits of $21 million, or 33 cents per diluted share, on revenues of $148.4 million for the three months ended March 31. That compared with net losses of $152.5 million, or $2.43 per diluted share, on revenues of $37.3 million during Q2 2009.
Brooks Automation Inc. (NSDQ:BRKS) named Stephen Schwartz president as it rolls out a new upper management structure.
The Chelmsford, Mass.-based semiconductor imaging components maker said Schwartz, whose appointment became effective April 5, will be a key member of its newly created "Office of the Chief Executive," along with CEO Robert Lepofsky and CFO Martin Headley. Schwartz, a veteran of the semiconductor industry, will lead Brooks Automation’s push to increase "the rate of profitable growth," according to a press release.
Brooks Automation Inc. (NSDQ:BRKS) boosted its top line and slashed losses during the first quarter.
Revenues for the Chelmsford, Mass.-based semiconductor imaging components maker neared $106.2 million for the three months ended Dec. 31, 2009, compared to revenues of $73.4 million during the same period last year. Compared with the fourth quarter last year, sales rose 65.7 percent from $64.1 million.
Brooks pared its Q1 net losses to $2.8 million, or 4 cents per diluted share, from $35.1 million, or 56 cents per diluted share, during Q1 2009. Net losses were also down sequentially from $14.5 million during Q4 2009.
The world’s largest asset management firm is now a major player in medical devices.
In the first of several pending moves, BlackRock Inc. (NYSE:BLK) assumed a five percent stake in several medical device firms including Boston Scientific Corp. (NYSE: BSX) and Abiomed Inc. (NSDQ:ABMD), according to a clutch of regulatory filings with the federal Securities and Exchange Commission Jan 29.
BlackRock, which controls more than $3.2 trillion in assets, assumed the stake in both firms following its purchase of Barclay’s Global Investors last December.
