LivaNova (NSDQ:LIVN) said last week that it picked up former Johnson & Johnson medical device group chief financial officer Thad Huston as its new CFO, effective May 20. Huston will replace former CFO Vivid Sehgal, who coordinated with Huston during the transition. Huston spent more than 25 years with Johnson & Johnson, and held various positions, […]
Cardiovascular Systems Inc.
FDA approves new Cardiovascular Systems saline pump after recall
Cardiovascular Systems (NSDQ:CSII) said yesterday that it plans to have a saline infusion pump on the market this summer to replace the pump it recalled last month, now that the FDA granted pre-market approval for the new pump. The pumps are used to provide saline and lubricant during orbital atherectomies with CSI’s Diamondback 360 device. The St. Paul, […]
Cardiovascular Systems shares steady on Q3 beat
Shares in Cardiovascular Systems (NSDQ:CSII) have fallen slightly today after the medical device maker met expectations on Wall Street with its 3rd quarter results. The St. Paul, Minn.-based company posted losses of $1.7 million, or 5¢ per share, on sales of $52.1 million for the 3 months ended March 31, seeing losses shrink 92.3% while sales […]
Cardiovascular Systems to pay $25m in whistleblower, wrongful termination suit
Cardiovascular Systems (NSDQ:CSII) said today it was found liable for approximately $25.1 million in damages in a whistleblower and wrongful termination suit involving a former regional sales manager. The suit, filed by Steven Babyak in Nov. 16, 2015, alleged that the company engaged in retaliation and the eventual discharge of Babyak in response to his expressed concerns […]
Cardiovascular Systems recalls saline pumps
Cardiovascular Systems (NSDQ:CSII) launched a voluntary recall yesterday of its 7-10014 saline infusion pump, telling customers that they can continue to use the device until they receive a replacement. The pumps provide saline and lubricant infusion during orbital atherectomy procedures and electrical power to the orbital atherectomay device. The company found that electromagnetic interference from the […]
Cardiovascular Systems closes $22m St. Paul HQ sale; inks $40m revolver
Cardiovascular Systems (NSDQ:CSII) said this week it closed the sale of its St. Paul, Minn.-based headquarters to Krishna Holdings for $21.5 million and inked a new revolving credit facility with Silicon Valley Bank. The company said it received approximately $20.9 million from the sale of the facility after accounting for expenses, with funds slated to support […]
Cardiovascular Systems escapes class-action kickbacks suit
Cardiovascular Systems (NSDQ:CSII) escaped a purported class-action lawsuit brought over allegations that it ran an off-label promotion and kickbacks scheme, but the reprieve could be short-lived because the case was dismissed without prejudice. St. Paul, Minn.-based CSI paid $8 million to settle a federal False Claims Act suit in July 2016 that accused CSI of inducing physicians […]
Cardiovascular Systems launches combined Diamondback 360, DES trial
Cardiovascular Systems (NSDQ:CSII) said today it enrolled the 1st patient in the Eclipse clinical trial of its Diamondback 360 coronary orbital atherectomy system. The St. Paul, Minn.-based company is looking to enroll 2,000 patients in the trial which aims to explore the use of the Diamondback 360 device for treating patients with severely calcified coronary lesions […]
Cardiovascular Systems shares steady on Q2 beat
Shares in Cardiovascular Systems (NSDQ:CSII) have stayed steady today after the medical device maker posted 2nd quarter results which topped expectations on The Street. The St. Paul, Minn.-based company posted profits of $1 million, or 3¢ per share, on sales of $50 million for the 3 months ended December 31, turning around its bottom-line from losses of $15.2 […]
Ex-Abbott exec Simhambhatla is new Alphaeon CEO | Personnel Moves August 26, 2016
Ex-Abbott exec Simhambhatla is new Alphaeon CEO Healthcare and social commerce company Alphaeon said last week it tapped former Abbott (NYSE:ABT) senior veep Dr. Murthy Simhambhatla as its new CEO and president, replacing Robert Grant who was recently appointed as vice chair of the company’s board of directors. Dr. Simhambhatla previously operated as a senior partner Strathspey […]
Profound Medical moves Plymale to COO, taps ex-Novadaq CEO Menawat| Personnel Moves August 16, 2016
Profound Medical moves Plymale to COO, taps ex-Novadaq CEO Menawat Profound Medical said yesterday it is transitioning its current CEO Steven Plymale to the position of chief operating officer and picking up former Novadaq CEO Arun Menawat to take over the corner office. Menawat has held a position as a board member with Profound […]