A group of healthcare providers levied a purported class action against BD, its distributors and group purchasing organizations accusing them of running a monopoly on the U.S. safety syringe market. The lawsuit, brought in the U.S. District Court for Southern Illinois, was filed on behalf of “healthcare providers nationwide” by a group of providers “who […]
Cardinal Health
Cardinal Health down on shrinking profits, EPS miss in Q3 earnings
Shares in Cardinal Health (NYSE:CAH) fell today after the medical device maker missed EPS expectations and posted shrinking sales in its fiscal year 2018 third quarter earnings release. The Dublin, Ohio-based company posted profits of $255 million, or 81¢ per share, on sales of $33.6 billion for the three months ended March 31, seeing the bottom-line […]
Cardinal Health donates 80,000 Narcan doses to first responders in Appalachia
Cardinal Health today began its donation of more than 80,000 doses of Narcan, a nasal spray designed to reverse opioid overdoses, to community organizations in Ohio, Kentucky, Tennessee and West Virginia. The donation is part of the company’s Opioid Action Program – a pilot program launched last year to bring solutions to first responders, communities and […]
Cardinal Health looks to stave off below-market mini-tender
Cardinal Health (NYSE:CAH) last week warned investors about a mini-tender offer from TRC Capital to acquire 2 million CAH shares at about 5% below their market price. Mini-tenders, because they fall below the U.S. Securities & Exchange Commission’s reporting threshold, are used to catch investors by surprise, according to the regulatory watchdog. “‘Mini-tender’ offers are tender offers that, […]
Cardinal Health’s Q2 profit surges on medical supplies acquisition, tax reform
Fiscal second-quarter profits for Cardinal Health (NYSE:CAH) surged at a triple-digit clip, fueled by contributions from the medical supplies business it bought from Medtronic (NYSE:MDT) for $6 billion last year. Dublin, Ohio-based Cardinal posted profits of $1.05 billion, or $3.33 per share, on sales of $35.19 billion for the three months ended Dec. 31, 2017. That amounts […]
Cardinal Health closes $1B China biz sale
Cardinal Health (NYSE:CAH) said today it closed its $1.2 billion sale of its Cardinal Health China business to Shanghai Pharmaceuticals. The deal covers Dublin, Ohio-based Cardinal’s pharmaceutical operations and medical distribution business in the People’s Republic, but does not include other assets there such as Cordis, the patient recovery business for which it paid Medtronic (NYSE:MDT) $6 billion or its […]
Neovasc taps former Boston Scientific CRM vet Colen for CEO | Personnel Moves January 22, 2018
Neovasc (NSDQ:NVCN) said today it tapped former Boston Scientific (NYSE:BSX) cardiac rhythm management lead Fred Colen as its new chief executive officer, with former CEO Alexei Marko staying on as an advisor and member of the company’s board of directors. The move comes as part of a company-wide strategy looking to support commercialization efforts for its Reducer […]
7 top stories that mattered for medtech in 2017
The medtech industry saw its transformation accelerate in 2017: Whether it’s the roster of largest companies, business models or the regulatory environment, times are a-changing. Competition is also heating up in areas including diabetes care and robotic surgery. Here are seven stories that mattered for the medical device industry this year. Next>>
Cardinal Health to deal China biz for $1.2B
Cardinal Health (NYSE:CAH) said yesterday that it agreed to a $1.2 billion deal with Shanghai Pharmaceuticals Holding for portions of its business in China. The deal covers Dublin, Ohio-based Cardinal’s pharmaceutical operations and medical distribution business in the People’s Republic, but does not include other assets there such as Cordis, the patient recovery business for which […]
Cardinal Health logs fiscal Q1 sales miss, earnings beat, announces CEO succession
Cardinal Health (NYSE:CAH) today saw its fiscal first-quarter profits plunge on sales growth of nearly 2% and announced its plans for a CEO succession. Dublin, Ohio-based Cardinal posted profits of $115 million, or 36¢ per share, on sales of $32.64 million for the three months ended Sept. 30, for a bottom-line decrease of -62.8% on sales […]
Physio-Control recalls Cardinal Health-made pediatric AED electrodes
Physio-Control said today it launched a voluntary recall of pediatric defibrillation electrodes, made by Cardinal Health (NYSE:CAH), which are components in a number of the company’s Lifepak automated external defibrillators over issues with incorrect art that could lead to misuse. Redmond, Wash.-based Physio-Control said that artwork on the recalled defibrillation electrodes shows incorrect electrode placement for […]