The medical device tax set to take effect next year as part of the Affordable Care Act will see all medical device companies pay a 2.3% levy on U.S. sales. But the tax is likely to strike some companies a lot harder where it hurts the most: the bottom line.
Biolase Technology (NSDQ:BLTI) CEO Federico Pignatelli agreed to another year at a $1 salary as the dental laser maker met Wall Street’s 4th-quarter forecast with a whopping 35% top-line bump.
Pignatelli set his annual pay package at $1 and 35,000 shares of BLTI stock when he took the role of vice chairman in July 2010, a month after he was terminated as president, SEC filings show.
Shares of orthopedic device makers are up this morning after bellwether Biomet Inc. reported preliminary sales numbers indicating 3.8% growth for its fiscal second quarter.
Roy Malkin, the former CEO of Minntech Corp. who was seriously injured last spring in a plane crash, has been back with the company on a limited basis since September, according to a regulatory filing.
Malkin’s private single-jet plane crashed in early June in Crystal, Minn., as the plane was attempting to take off.
Edwards Lifesciences (NYSE:EW) can’t seem to get a break on Wall Street, where its share price slipped 3.4 percent today despite growth for its top and bottom lines.
The Irvine, Calif.-based heart valve maker missed The Street’s earnings forecast by a mere penny, but that was enough to send its shares down to a $67.79 close.
Fresenius Medical Care AG (NYSE:FMS) had an active day on the M&A trail, announcing two deals worth a combined $2.1 billion that should bolster the company’s presence in the U.S.
The German dialysis giant, which houses its U.S. headquarters in Waltham, Mass., said it will pay $1.7 billion to acquire Liberty Dialysis Holdings Inc., a privately held company out of Mercer Island, Washington, which was owned by two private equity firms KRG Capital Partners and Bain Capital.
Second-quarter sales and earnings may have slipped for Swedish medical device maker Getinge AB (STO:GETI B), but that hasn’t stopped it from issuing an ambitious plan to boost its profits.
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days: