Cardiovascular Systems Inc.
Thoratec (NSDQ:THOR) shares are up more than 11% today after the heart pump maker put mid-double-digit profit growth numbers on the board for the 4th quarter and full-year 2011.
The Pleasanton, Calif.-based cardiac assist device maker logged profits of $15.3 million, or 25 cents per diluted share, on sales of $109.4 million for the 3 months ended Dec. 31, 2011. That’s a 46.4% bottom-line gain and a top-line boost of 12.1%, compared with profits of $10.5 million, or 17 cents diluted EPS, on sales of $97.6 million during Q4 2010.
Merck Global Health Innovation Fund will invest up to $17 million in medical app maker Physicians Interactive Holdings. The financing includes $8.5 million up front, but could double if the mHealth marketer meets Merck’s milestones.
The Marlborough, Mass.-based company plans to use the Merck funds to grow "4 key products," including its flagship medical resources app Skyscape.
Philips Ingenuity Scanner
Philips Healthcare (NYSE:PHG) landed 510(k) clearance from the FDA to market its Ingenuity whole-body PET/MR imaging system in the U.S.
The scanner performs both PET and magnetic resonance imaging scans, allowing doctors to acquire images at a significantly lower radiation dose than traditional PET/computer tomography scanners, which use x-rays to make images.
The U.S. medical device arena is in danger of ceding the throne to countries with friendlier regulatory environments but the system is not irreparable, Dr. Martin Leon said during a lecture at this week’s Transcatheter Cardiovascular Therapeutics symposium in San Francisco.
AngioDynamics (NSDQ:ANGO) saw its first-quarter profits slump despite posting a 5.7 percent top-line increase during the three months ended August 31.
The Albany, N.Y.-based medical device maker reported net income of $1.4 million, or 5 cents per share, on sales of $54.4 million for the quarter. That compares with profits of $1.9 million, or 8 cents EPS, on sales of $51.5 million during the same period last year.
Allergan Inc. (NYSE:AGN) touted a strong quarter on the back on growing sales.
The Irvine, Calif.-based company saw strong growth in revenue in the three months ended June 30, posting $1.4 billion in sales, which amounts to a 14 percent increase over $1.2 billion in sales reporting during the same time last year.
Device sales jumped 12 percent to $245 million for the quarter, compared to $219 million in Q2 2010.