BioTelemetry (NSDQ:BEAT) said yesterday that it closed its $15.5 million acquisition of clinical trial imaging provider VirtualScopics (NSDQ:VSCP), approximately 6 weeks after the deal was 1st announced. The all-cash buyout of Rochester, N.Y.-based VirtualScopics included a $4.05-per-share tender for roughly 3 million VirtualScopics shares. BioTelemetry also offered $336.50 per share for the company’s Series A and […]
UPDATED April 3, 2015, with comment from BioTelemetry.
BioTelemetry Inc. agreed to fork over $6.4 million to settle federal charges that its CardioNet subsidiary overbilled Medicare for unnecessary outpatient services.
NuVasive (NSDQ:NUVA) swung to red for the 4th quarter and full-year 2011, largely on the back of an $18.2 million writedown of intangible assets.
The San Diego-based spinal implant maker posted a loss of $10.0 million, or 24 cents per share, on sales of $150.2 million for the 3 months ended Dec. 31, 2012. That’s a top-line gain of 16.2% compared with Q4 2010, when NuVasive posted profits of $61.9 million, or $1.39 EPS.
Buyout chatter pushed shares of Shire plc (FTSE:SHP) up nearly 2% in London yesterday and added 1.4% on Wall Street.
Cost-cutting efforts helped CardioNet (NSDQ:BEAT) top Wall Street’s expectations for the 4th quarter, despite slipping sales for its mobile cardiac outpatient telemetry systems.
The Conshohocken, Pa.-based heart monitor maker posted revenues of $26.8 million for the 3 months ended Dec. 31, a 6.6% decline from $28.7 million during the same time last year.
Argentum Medical is suing its former intellectual property law firm after it lost a patent infringement suit it filed against Noble Biomaterials.
Accuray (NSDQ:ARAY) shares are down today after the radiosurgery company reported surging first-quarter sales and beat Wall Street’s earnings expectations, as investors reacted to net losses of nearly six times the Q1 2011 mark.
Accuray reported losses of $26.5 million, or 38 cents per share, on sales of $100.5 million for the three months ended Sept. 30. That’s top-line growth of 163.9 percent compared with the same period last year, largely due to the massive infusion that followed ARAY’s acquisition of rival TomoTherapy earlier this year.
Boston Scientific Corp. (NYSE:BSX) COO Samuel Leno announced his retirement as executive VP and chief operating officer after three years with med-tech giant.
Leno made the announcement internally on Friday, Oct. 28, according to documents filed with the SEC.
Leno joined Boston Scientific in June 2007 as executive VP of finance and information systems and CFO. In March 2010, he was appointed executive VP and COO.
Shares of CardioNet Inc. (NSDQ:BEAT) hit a new lifetime low of $3.01 per share on news that the company is undergoing a U.S. Dept. of Justice probe on allegations of making false Medicare claims.
The Pennsylvania-based company revealed that it received a civil investigative demand from the DOJ, prior to which it had no knowledge of a pending investigation, according to the SEC filing.