While the markets experienced some growth over the past week, stocks in the medtech industry remained practically unchanged over seven days. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 87.15 points at the end of last week (June 5). That total represents just a -0.02-point decrease […]
Cantel Medical up on Street-beating Q3
Cantel Medical (NYSE:CMD) shares ticked up today on third-quarter financial results that came in ahead of the consensus forecast. The Little Falls, N.J.-based infection prevention products and services company posted profits of $15.8 million, or 37¢ per share, on sales of $236.9 million for the three months ended April 30, 2020, for a 93.1% bottom-line gain […]
Cantel Medical pulls in $28m
Cantel Medical (NYSE:CMD) announced today that it sold $28 million in aggregate principal amount of convertible senior notes. The 3.25% convertible senior notes due in 2025 are pursuant to the full exercise by the initial purchasers of their option to purchase additional notes. Cantel Medical has issued a total of $168 million in aggregate principal amount […]
Cantel Medical announces $150m offering
Cantel Medical (NYSE:CMD) announced today that it intends to offer a private placement worth $150 million in convertible senior notes. Little Falls, N.J.-based Cantel Medical notes intends to grant the initial purchasers of the notes, due in 2025, an option to purchase up to an additional $22.5 million in notes. The unsecured notes will be unsubordinated […]
Cantel Medical appoints chief growth officer
Cantel Medical (NYSE:CMD) today said it appointed Seth Yellin as executive VP and chief growth officer. In the newly created role, Yellin will be responsible for identifying and supporting both organic and inorganic initiatives to drive the company’s growth objectives. He will lead the development of the overall corporate strategy, as well as Cantel Medical’s acquisition […]
Cantel Medical beats The Street in Q1 results
Cantel Medical (NYSE:CMD) posted first-quarter results today that beat the consensus forecast on Wall Street. The Little Falls, N.J.-based company reported profits of $5.8 million, or 14¢ per share, on sales of $257.2 million for the three months ended Oct. 31, 2019, for a bottom-line loss of -70% sales growth of 14% compared with Q1 2019. […]
Cantel Medical closes Hu-Friedy buy
Cantel Medical (NYSE:CMD) said today that it closed the buyout of dental instruments maker Hu-Friedy. Little Falls, N.J.-based Cantel said it put up about $719.4 million up front, consisting of $665 million in cash and 751,471 shares of its stock, which were worth about $54.4 million at yesterday’s $72.38 closing price. The deal also includes $50 […]
Cantel Medical puts up $775m for dental instrument maker Hu-Friedy
Cantel Medical (NYSE:CMD) said today that it put $775 million on the table to acquire dental instruments maker Hu-Friedy. Chicago-based Hu-Friedy, which makes dental instruments and systems used to reprocess them, put up adjusted EBITDA of roughly $48 million on $214 million in sales during the twelve months ended May 31. The deal calls for Little […]
Ablative Solutions taps medtech vet Rumrill for CEO | Personnel Moves, July 16, 2019
Ablative Solutions tapped 30-year industry veteran Kate Rumrill, the former chief executive at NeoSync, to be its new president & CEO. Rumrill, whose resume includes stints at Covidien, Aspect Medical Systems and Eli Lilly, is slated to keep her seat on NeoSync’s board, San Jose, Calif.-based Ablative Solutions said. The company makes the Peregine renal […]
Cantel Medical’s fiscal Q3 beats on sales, misses on earnings
Cantel Medical (NYSE:CMD) just beat the consensus forecast for its fiscal third-quarter sales but missed the mark on earnings. The Little Falls, N.J.-based medical device maker reported profits of $8.2 million, or 20¢ per share, on sales of $228.6 million for the three months ended April 30, for a bottom-line slide of -56.4% on sales growth […]
‘Berkmorgazon’ health play Haven COO Stoddard steps away | Personnel Moves – May 17, 2019
Healthcare joint venture Haven, started by Amazon (NSDQ:AMZN), Berkshire Hathaway and J.P. Morgan, has lost its COO Jack Stoddard at just nine months post-hiring, according to a CNBC report. The former digital health general manager for Comcast told the news channel that he is departing the healthcare play due to personal reasons, including the distance between […]
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